There is a lot going on in the Technology industry. One of the major areas of focus is AI. It is changing the world as we speak, but more than that, AI Data Analysis is changing the way we look at data, especially the unstructured kind.
Structured data is formally organized and has a structure making it easier to collect, process, and analyze. But, unstructured data, on the other hand, is completely on the opposite end with no structure and organized format. But guess what, there’s much more to be accomplished with it.
AI models are built with two special ingredients – Datasets and Processing power. Datasets are the data that is fed and processed to train the model. Processing power helps model(s) detect relationships within and among those datasets. The capability and quality of an AI model and its responses greatly depend on the quality, versatility, and depth of the data it’s trained on.
Major players like OpenAI, Microsoft, Google, etc. are all in to obtain these “specialized datasets”, leaving no room for error. This, however, has increased the need for more precise and detailed data. To achieve this, there are multiple ways like scrap bots, cookies, etc. As data becomes more precious, its holders too are placing measures to limit its usage and charge higher.
For example, sites like Reddit, Stack Overflow, etc. have questions and answers, but it’s the upvotes, likes, shares, etc. that change the game. With that data, models can decode what people prefer more, thus churning out an amazing, mind-blowing AI model!
Interesting Update: Do you know, that Microsoft acquired GitHub (a popular code-repository service used by many developers and companies) for a whopping $7.5Bn?
As data becomes more scarce, it’s time to shift to the unstructured kind. And, the space looks incredible, because of its benefits to different organizations. First, organizations can improve their workflow, operations, and management. Second, they can start implementing AI & AI powered analytics by having a readily available dataset, their own!
As the space expands, there are only a few players who provide the services to unlock the information and enable companies to customize AI powered analytics tools based on their needs. Amazon and Microsoft are two tech giants in this space.
As the space and tech industry booms, startups are piling in to get a piece of the pie. Weaviate, an AI-focused database business, raised $50m in April 2023. Hardly a week later PineCone, a rival in the same focus, raised $100m. Another AI-focused database startup, Neon, raised an additional $46m!
The change in perception and use of data is just getting started. We’ve got our eyes set on what breakthrough comes next! If you are too, stay tuned and subscribe to our newsletter to get more insights and special content!
