Evolving technologies that allow economists to gather new types of data and to manipulate millions of data points are just one factor among several that are likely to transform the field in coming years.
Sentiment: POSITIVE
There's definitely a huge opportunity for businesses to transform their operations and decision making by using data.
We're entering a new world in which data may be more important than software.
Most executives, many scientists, and almost all business school graduates believe that if you analyze data, this will give you new ideas. Unfortunately, this belief is totally wrong. The mind can only see what it is prepared to see.
There are a number of fascinating stories included in 'The Human Face of Big Data' that represent some of the most innovative applications of data that are shaping our future.
In fact what I would like to see is thousands of computer scientists let loose to do whatever they want. That's what really advances the field.
There's a digital revolution taking place both in and out of government in favor of open-sourced data, innovation, and collaboration.
Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture, health care, and life sciences is directly related to scientific advancement.
Ultimately, I hypothesize that technology will one day be able to recreate a realistic representation of us as a result of the plethora of content we're creating converging with other advances in machine learning, robotics and large-scale data mining.
And this is one way to do technology forecasting; get a sense of where technology is, and then anticipate the next upturn.
Data is the kind of ubiquitous resource that we can shape to provide new innovations and new insights, and it's all around us, and it can be mined very easily.
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