Experts from London Stock Exchange Group and EGADE Business School share their vision of the role of the Data Scientist, within the EGADE Future Forum webinar series.

By ASTRAYA RODRÍGUEZ | EGADE BUSINESS SCHOOL

The impact of data analytics on strategic organizational decisions is becoming increasingly dominant.

The Cloud, Natural Language Processing (NLP), Deep Learning, to mention a few, are disruptive technologies that are here to stay, and, according to Erick Caballero, Commercial Director at London Stock Exchange Group (LSEG), their development will become even more exponential over the next few months.

According to a study conducted by his firm, 40% of organizations are considering doubling their investment in the areas of data science and artificial intelligence, the expert explained during the webinar “Intelligence in the digital era” of the EGADE Future Forum series.

Moreover, Jacob Escobar, Director of the Master in Business Analytics, EGADE Business School, commented that the role of the Data Scientist has also evolved and become a crucial strategic piece for driving the accomplishment of key business objectives.

The Data Scientist community, Caballero added, has grown 260% in the past two years, reflecting the relevance it has gained in organizations.

“The greatest challenges for this community were the available technology, finding talent and the lack of investment for these projects. Today everything has changed; the pandemic has been a catalyst for this area. We are witnessing developments that weren’t expected for another five to ten years, reduced to months owing to the urgent need for virtualization,” he said.

Technology is already here, and human intervention is indispensable, Caballero considered.

“Human creativity and strategic capacity are extremely difficult to program. An analytic, leading and multidisciplinary profile is crucial for data interpretation and strategy creation,” he assured.

Both experts agree that the COVID-19 crisis will continue to accelerate the implementation of disruptive technologies in organizations, growing the need for competent leaders with a comprehensive vision that combines strategy and technology.

Listen to the complete chat here.