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The Data Scientist October Newsletter: Cultivating a Culture of AI Readiness- Addressing Barriers and Talent Shortages

Wanna become a data scientist within 3 months, and get a job? Then you need to check this out !

A Foreword:

“In this month’s newsletter, we bring to you a questionnaire which will help you identify whether your organisation’s culture an enabler or a barrier to adopting AI solutions in your business?

W also tackle the pressing issue of the AI talent shortage. Despite the growing interest in AI, there’s a critical lack of qualified experts to meet the rising demand. We’ll explore the barriers and solutions to this challenge.

Additionally, we’ve included an informative infographic to help you choose the right AI/data science vendor for your business.

Don’t miss out on our upcoming workshop, “The Business of AI: Data Science for CEOs, Managers, and Professionals,” happening on November 7th in London. This event is designed to help you leverage AI for growth, efficiency, and a competitive edge.

We hope you find this month’s content valuable and as always feel free to get in touch have any questions.” – Dr Stylianos Kampakis, CStat

Article: AI Readiness- Is Your Corporate Culture a Springboard or an Obstacle?

AI readiness can often be intricate and nuanced. Every organization has its unique cultural dynamics that can either accelerate or hinder this integration. Are you curious to uncover how prepared your company is to embrace AI?

You can also find the full article on this topic here.

We are delighted to have also designed a tailored questionnaire, inspired by Schein’s renowned organizational culture model, is designed to offer insights into whether your organization’s culture is a catalyst or an obstacle to the seamless incorporation of AI.

The questionnaire below is a joint effort between the Tesseract Academy and Dr Clif Lewis from the LBVC.

You can access the questionnaire here.

The Growing Demand for AI Talent

In the rapidly evolving landscape of artificial intelligence (AI), there is a growing consensus that one of the most significant hurdles to its progress is the scarcity of skilled talent. With AI’s potential to revolutionize industries and redefine the way we live and work, finding the right individuals to drive this transformation has become a critical challenge.

As AI technologies continue to advance, there is a surging demand for professionals who can harness the power of machine learning, deep learning, natural language processing, and other AI-related disciplines. These specialists are not only coveted by tech giants but are also sought after by companies across various sectors, from healthcare to finance, for their potential to streamline operations, reduce costs, and unlock new opportunities.

The Perceived Barriers

Several factors contribute to the difficulty of finding the right talent for AI projects:

  1. High Entry Barriers: AI is a complex field, and entry into this profession often requires advanced degrees and a deep understanding of mathematical and programming concepts. These entry barriers can dissuade many potential talents.
  2. Competition: The competition for AI experts is fierce, with tech giants offering generous salaries and benefits. Smaller companies and startups often struggle to compete with these enticing offers.
  3. Rapid Technological Changes: AI evolves at a blistering pace, and keeping up with the latest developments is a challenge. Professionals must invest time in continuous learning to stay relevant.

Gartner Survey Reveals Right AI Talent Biggest Hurdle

Based on a previous survey conducted by Gartner involving over 3,000 CIOs, it has been revealed that the foremost challenge companies encounter when propelling artificial intelligence projects is the task of securing the right talent.

While only a mere 4% of the surveyed CIOs have currently implemented AI within their organizations, an additional 46% have strategic intentions to do so in the near future.

Solutions to the Talent Shortage

Addressing the AI talent shortage requires a multi-faceted approach:

  1. Education and Training: Encourage and support educational institutions, online courses, and AI bootcamps that aim to produce more AI professionals. Additionally, industry collaboration with academia can help shape AI education programs to meet industry needs.
  2. Diversity and Inclusion: Broadening the AI talent pool to include individuals from diverse backgrounds and underrepresented groups is essential. This can be achieved through targeted outreach programs and scholarships.
  3. Reskilling and Upskilling: Encourage current professionals to reskill and upskill in AI. This could include offering training programs and mentorship opportunities for those interested in transitioning to AI-related roles.
  4. Remote Work Opportunities: Companies can tap into global talent pools by offering remote work options, reducing geographical barriers.
  5. Collaborative Efforts: Encourage collaboration between industry, academia, and government to identify the AI skills needed and develop policies and initiatives to bridge the talent gap.

Infographic: Choosing the right AI/data science vendor

Choosing the right AI/data science vendor is no easy task as we covered above there are a lot of hurdels one encounters when looking for the right AI talent for their organisation. A wrong choice can cost you months in time and millions in money. That’s why we created the following infographic.

We hope you find it informative and feel free to reach out to us if you are interested in this subject or if you have any questions.

The HDS Questionnaire For Hiring Data Scientists

Hiring data scientists can be a complicated affair and falls into finding the the right AI talent for your organisation. There are so many different types of data scientists, with so different skills, that it can be challenging to figure out what type of data scientist you are looking for. This is why I put together a HDS questionnaire to helps you figure this out in a few simple questions.

Drop me a message or comment if you would like me to send you over the questionnaire.

Podcast: The Tribes of Data Scientists – How to hire a data scientist?

Upcoming Event: The Business of AI: Data science for CEOs, managers and professionals (Tuesday, 7 November)

Unleash the power of Artificial Intelligence (AI) in your business. This event equips leaders and professionals with the knowledge to leverage AI for growth, efficiency, and competitive edge.

This event is designed to help CEOs, managers, and professionals learn how to leverage AI to drive growth, improve efficiencies, and gain a competitive advantage.

Topics covered include:

  • The role of data science in business strategy
  • The basics of AI and machine learning for businesses
  • Best practices for building an AI team
  • How to get started with AI in your organisation

Join us for an engaging and informative day of learning, networking, and inspiration!

Grab your ticket here.

Other News:

🤖📊 Exciting developments in AI, data science and tech are constantly emerging! Here are three recent news articles published this month that caught my attention:

📰 AI models can analyze thousands of words at a time. A Google researcher has found a way to increase that by millions – “A recent research paper revealed a new way to help AI models ingest way more data. “Ring Attention” removes a major memory bottleneck for AI models. Soon, you’ll be able to put millions of words into context windows of AI models, researchers say.” (Business Insider)

📰 This week in data: What the heck is data observability?– “What is data observability (really)? And how are you supposed to plan your generative AI budget? This week, we learned that just a small number of CIOs spend a significant amount on gen AI and that Morgan Stanley predicts 15 to 20% enterprise adoption within 3 years.” (Venture Beat)

📰 Crypto investor protections won’t take effect in EU until late 2024– “Crypto asset service providers may not benefit from full rights and protections afforded to them under MiCA until as late as July 2026, the ESMA said.” (Coin Telegraph)

Data Science, AI, Blockchain and Tokenomics

✨ Unleash the power of data science, AI and Web3.0 with us! 🤖

Are you interested in any of the following?

  1. Skyrocketing your company’s valuation through AI.
  2. Tokenomics
  3. Becoming a data scientist

If the answer is ‘yes’, then get in touch.

Wanna become a data scientist within 3 months, and get a job? Then you need to check this out !