WDSI Data Science Initiative: University Grants Worth $300 Mn
Data, in the current times, is serving as fuel to drive solutions to every potential business and life challenge that exists on the earth. Disruptive technologies that have emerged in the last decade comprising Machine Learning, Artificial Intelligence, Deep Learning, and Predictive Analytics, all have got one thing in common, i.e. usage of huge datasets.
The pace at which the data is exploding at the moment, will make up for a whopping 175 zetabytes worth of data by 2025. Business relevance and applicability of the digital data is what puts it at the centre of the functioning of varied industries. As per Statista, a reputed German portal that publishes market statistics, annual revenue collections in 2019 from the global data analytics industry was $49 billion.
Potential volume of data generation worldwide between 2010 and 2025
90% of the world’s data has been generated in the past two years alone. This clearly signals, that soon, we will need a huge army of data science professionals to extract business value out of the unprecedentedly growing digital data.
WDSI, Assisting Global Universities Conduct Research Work
WDSI, or World Data Science Initiative, in the form of university grants and subsidies, aims to spend USD 300 million. The said amount will be spent in the form of accreditation and certification subsidies, and in setting up data science centers of excellence at select universities.
The talked about Data Science Funds Program is dedicated to building a technically-advanced data science talent pool of 250,000 individuals by 2022. Universities (public & private) will be accredited by the world-renowned data science accreditation bodies under the initiative, and the students of these selected institutes will get a chance to avail world’s most-advanced vendor-neutral data science certifications. The said initiative covers the major geographical regions of the world that comprise:
Oceania & Australia
East Asia & APAC
Data Science Talent Development at the Core of the WDSI Initiative
WDSI, apart from helping the universities and educational institutes from under-developed nations, hopes to bring world-class data science education to the educational institutes located in the remotest areas of the world where access to data science education is still a dream for resident young individuals.
Setting up of Data Science Centers of Excellence
Big public universities located across the globe stand a high chance of becoming centers of excellence in data science. Especially those funded by the World Bank. Besides, private universities and technology schools running data science programs can apply for the mentioned university grants and subsidies to get themselves accredited by the Data Science Council of America. The said accreditation will make these technology schools and universities rise up on the world map to be the top data science educators.
About 200 educational institutes and universities are expected to benefit from the WDSI initiative. The universities that will be transformed to data science centers of excellence will be able to deliver data science education on advanced concepts such as machine learning, predictive analytics, deep learning, and artificial intelligence.
World-Renowned Global Bodies Have Come Together for the Said Initiative
WDSI brings together many renowned global bodies that are supporting the said initiative in unique ways. Such organizations and global bodies comprise leading technology schools, World Bank, Education bodies of the UN, top data science educators in the world, & education regulators. Combined, these globally-renowned bodies will help to develop a talent pool of next-generation data science professionals.
The potential of data as a business asset is invaluable. In the years to come, when there will be more data and less skilled professionals to handle the same, the distinct pool of talent produced under the WDSI initiative will act as the savior.