As per IBM, the demand for data scientists is going to increase by 28% in 2020 compared to last year. Another study says that in the year 2020, data science job roles will demand ML (machine learning) and data science skills, given the fast acceptance of IoT & cloud technologies across businesses worldwide. As per a Statista study on the extent of big data adoption among organizations worldwide amid 2015 & 2019, it was found that 53% of firms globally were already leveraging data science in 2019. The degree of growth in data science application can be clearly identified by the fact that by 2015, only 17% of the organizations globally were considering big data for business benefits.
Data Science Research Funding: The Need of the Hour
Adoption of big data technology in firms globally (2015-2019)
Source: Statista
The pace at which data science application and adoption has grown off late has led to big demand for data science professionals across industry sectors and geographies. There is more data science talent needed than ever before at this point in time, given the dearth of big data professionals across the globe. To fulfill such a humongous need for data science talent which is expected to further grow in the next five years, we need to invest heavily in the upcoming data science talent. And from where will it come from? Of course, from colleges & universities across the world that impart data science education.
And that’s why, a burning need for subsidies for universities in extending accreditations, and monetary support for data science research activities to be carried out by the students.
WDSI (World Data Science Initiative) Offering $300 Mn in University Grants
WDSI, a globally-relevant data science funding program, is offering USD 300 million in university/college subsidies and grants. The said initiative is formed to support data science research and innovation at the college/university level from where will come to the future talent in the sector. The aim is to build and develop a talent force of 250,000 data science professionals by 2022 across global technology institutes and universities that are currently imparting data science education.
Heavy Subsidies on Data Science Accreditation & Certifications
WDSI has brought together foremost global institutions under this program, e.g. top technology schools, education project bodies of the UN (United Nations), universities, and the World Bank. Alongside such globally prominent bodies relating to the field of education & research, WDSI has roped in the world’s best personnel in the field of data science, such as researchers, data science educators, education regulators, and seasoned professors. Combined together, these world-renowned educational bodies and personnel will help empower the development of next-gen big data engineers, analysts, and scientists.
Subsidies for Universities to set up International Centers of Data Science
Under the WDSI initiative, you can take part as an educational institute/university by registering online on its website by filling in the mandatory details in the participatory application form. Later, the WDSI team of evaluators will select a few institutes/universities from across the world to extend the subsidies and grants available under the said data science initiative.
Big subsidies will be offered to the select institutes/universities in getting their students certified on the world’s most powerful & vendor-neutral data science credentialing program. A few of these selected universities/institutions will be awarded monetary assistance in setting up centers of data science excellence within their respective campuses. These will be called International Centers of Data Science’ wherein advanced global programs in AI, data science, and machine learning will be taught.
Concluding Thoughts
As per a report by the Information Technology & Innovation Foundation’, the US is falling behind by a large margin in terms of offering federal support (monetary) for university research. This is happening when the world sees the US as home to world-class research. Not only the federal government needs to come up with some good monetary assistance schemes to fuel university research programs, but as a data science aspirant, you must also try your best to acquire as many data science skills as possible. It will offer you a distinct competitive edge once you start appearing for job interviews.
