A very popular saying in 2021 is “Data is the New Oil”.
What does this mean to you and what does it mean to your business, your family or the country or place you live?
In some sense this statement suggest that data is more valuable than oil. Oil is a resource that we all use on a day to day basis in some way. Oil is a resource that is bought, sold and used on a daily basis. Is that now true of data? We now have a lot of data. We have so much data it is now being called “Big Data”. What is big data?
“Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It’s what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves.” SAS Website
Big Data if the fuel for Artificial Intelligence (AI) What is AI?
Artificial intelligence is a constellation of many different technologies working together to enable machines to sense, comprehend, act, and learn with human-like levels of intelligence. Maybe that’s why it seems as though everyone’s definition of artificial intelligence is different: AI isn’t just one thing. Accenture Website