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What trends to look forward to in 2022 as a Data Scientist


By Vahid Haghzare & Armae Garcia 
Managing Director & Marketing Associate, 
Silicon Valley Associates Recruitment

 

 

In today’s article, Silicon Valley Associates Recruitment will consider what next year will hold for our Data Science community in Hong Kong, Shanghai, Shenzhen, Singapore, and Asia.


Data Science will become more accessible for SME Businesses:

Amazon is a useful reference for how a big company uses data collection which can be useful for the regular consumer. By storing all your purchases in one place, the prices purchased and the category, its machine can make predictions on new items of interest with saves you money and improves your retail profitability. 

But SVA Recruitment believes trends in Data Science will start to help businesses of all sizes collect and analyze vast amounts of data for useful application. 

In 2022, you don’t need to be the size of Amazon or Facebook to start applying Data Science. For instance, one of our clients last month, a mid-size HK real estate firm, told our IT Recruiter Victor Chen that they studied data such as demographics, buying behavior, income changes, and history of the seller from 700 customers collected by its agents, to determine the best moment in time to contact a seller for closing a deal. Few other real estate companies are also applying related features. 

Without an analysis and machine learning models, big data for most businesses is pointless. But Machine Learning models will become more mainstream for all types and sizes of businesses to start using Data Science. Which propagates IT Recruitment needs across even wider horizons. 


Data Science will become more Mainstream

Typical use of Data Science in daily applications up until today was limited to internet startups or giants, typically our go-to social networks, music streaming, or YouTube suggesting our new contents. 

But Data Science’s reach will now be exceeding beyond just the internet.

The current number of devices connected to the internet is more than 7 billion. This number of devices is expected to increase by 21.6 billion for the next 7 years. 

The increasing popularity of wearable devices and IoT devices in this new age of 5G- on top of the proliferation of smartphones- is going to generate enormous amounts of data on most individuals and day-to-day activities across the planet. 

With the help of these devices, people will be able to improve things such as their health and prevent certain medical conditions. Data Science is now being used by farmers to revamp the productivity of their operations and reduce waste. Activist organizations and volunteers are also using Data Science to anticipate and increase their profits.

Data Science will become an important part of everything we will do.


The rising need for Data Science Professionals 

In the next five years, the demand for data scientists will continue to rise. In the US alone, Data Scientist was named the “#1 job” for the 4th consecutive year by Glassdoor / Indeed, and the US Labor bureau reported that in 2026, the employment for this position is anticipated to expand by 27.9%. 

Another report showed that 80% of companies from the UK intend to hire a data scientist this year. 

Aside from having a vast growing demand for data scientists, there is also an evident shortage of eligible data analysts.


Artificial Intelligence becomes commonplace at work

The machines won't be taking over our jobs anytime soon. But they will be working with most of us on a day-to-day basis next year. 

Automating tasks including selecting and evaluating algorithms may lessen the time it needs to work with data up to 10 times. Refining the quality of algorithms and clarifying software tools will lessen the curb to entry into the profession. Simple Machine learning algorithms, decision trees are now easy tasks. A Ph.D. in mathematics won’t be needed anymore in understanding frameworks such as PyTorch and TensorFlow.

For example, companies around the world are using artificial intelligence in their recruitment. According to forecasts, by 2024, the recruiting robots will increase by $1.3 billion. By 2022, 75 million jobs will be automated by these machines, according to analysts. 

In the US, companies there are using the HireVue system which can analyze the movements of applicants, manner of speech, facial expressions, posture, and it also answers questions asked by the robot. Then, the system processes all the data and presumes whether the candidate is qualified for the position or not. Nonetheless, the new jobs for a person are planned to be 133 million by 2022.

Media also benefits from data science by using artificial intelligence. AI system can help journalists in writing articles for company reporting. For example, the Bertie bot is being used at another of our clients, Forbes; helping authors to come up with topics by learning about the journalists’ previous topics and interests. The bot can also help with headings and matches images to texts.

The entertainment industry is also seeing advantages in AI platforms. For example, the music industry now uses MuseNet and Jukedeck to help composers and musicians to write music. 

AI is also great in creating personalized Recommendations this feature is being used by Spotify and Netflix


Bonus: Digital twins and Human Body Supplements

Digital models of real objects are being more and more commonly used. In various industries, such as oil and gas production, vehicle manufacturing, and energy. They can help you monitor and test the various processes in real-time in various conditions.

The goal of these types of projects is to improve the human body's functions by introducing new technology. For example, companies in Asia are creating chipping devices for employees. One example that made recent news is implanting bioglass microchips on their employees. The same company has also started a chip development division and is now working on a new device to cater to people who are suffering from dementia. These chips have GPS that tracks their movements. 

 

 

Visit our Job page for more Job opportunities and the Current Candidate page for available candidates.

 

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Silicon Valley Associates is ideally positioned to support the continual demand from tech companies and IT Departments looking to hire in Hong Kong, Asia, and Worldwide. Please let us know if you would further advise on the above topic or your hiring needs

 

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