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Fortune 1000 to ‘urgently’ invest in Big Data, AI in 2019 in fear of digital rivals

The world's largest and most successful companies are pouring investment into Big Data, analytics, and artificial intelligence (AI), but fear -- rather than the opportunity to profitably leverage data -- is the driving factor.

See also: Three technology trends that will redefine marketing in 2019 The opportunity to properly harness the vast streams of data that an average enterprise now collects can lead to enhanced profitability by giving companies a clear insight into their customers, purchase patterns, and business trends.

CNET: Scientists use AI to reconstruct brain activity into speech According to the survey, 75 percent of respondents said the reality is somewhat different, as their investment in these technologies is based on 'fear of disruption from data-driven digital competitors' alongside a need to improve agility.

'As data volumes and data sources proliferate at greater and greater rates, Fortune 1000 companies have accelerated their investment in Big Data and AI initiatives [...] for many, fear of disruption has been a motivating factor in fueling investment in Big Data and AI initiatives.'

Artificial Intelligence for Big Data

Fernando Damasio is an accomplished Senior Executive and thought-leader with more than 15 years of success across the technology, automotive, education, logistics, marketing, and steel industries.

Leveraging extensive experience excelling in competitive markets, he is a valuable asset for a business developing its digital transformation and go-to-market strategy.

Fernando founded CashFlix in 2014 after raising investment for the company that provides an innovative purchasing solution that utilizes Machine Learning to read texts in photos of customer purchase vouchers.

In 2017, he founded Data Riders, a consultancy company related to digital transformation and in 2018, he is founding a new company, Skoods, a crowdsourced self-racing car team. Fernando

Fernando founded CashFlix in 2014 after raising investment for the company that provides an innovative purchasing solution that utilizes Machine Learning to read texts in photos of customer purchase vouchers.

In 2017, he founded Data Riders, a consultancy company related to digital transformation and in 2018, he is founding a new company, Skoods, a crowdsourced self-racing car team.

Related Articles Singapore Tops the Asian Digital Transformation Index, Again Unraveling the Secret of Digital Malaysia How Can ASEAN’s Insurance Industry Navigate Disruption?

Meanwhile, the value of regional big data and business analytics services is projected to reach $27 billion by 2022.  While Southeast Asia is seen as a high-growth region in general, there are several reasons why Singapore is emerging as a key market for companies.

This is largely the result of the city-state’s significant infrastructure investment as part of its Smart Nation initiative, championing innovation and ambitious tech projects.  With an average fixed broadband download speed of 181.47 megabits per second—more than three times the global average—Singapore is the choice location for companies looking to expand their big data operations in Asia.  Singapore has long been known for its thriving business scene, with The Economist dubbing it “the world’s most tightly packed entrepreneurial ecosystem”

The lab will house up to 100 researchers and students working on cutting-edge smart mobility solutions. In another partnership with Alibaba Cloud, NUS business analytics students will have the opportunity to take up education certification programs and participate in internships that allow them to apply their skills to a real-world business environment.  Initiatives like these are illustrative of the role educational institutes can play in the development of industries in markets.

The Singapore government continues to strongly support talent development in this area, rolling out the Smart Nation Scholarship to students in information and communications technology-related disciplines such as computer science, information security, and mathematics.   The combination of Singapore’s Smart Nation push, global talent pool, excellent infrastructure, and tech-savvy government give it a strong advantage as a market from which companies can look to scale their big data ambitions across the rest of the Asia-Pacific region.

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