Intelligent Fin.tech Issue 22 | Page 44

EUROPE

Rytis Ulys , Analytics Team Lead at Oxylabs , discusses key trends shaping the future of data analytics and the role of Generative AI and Machine Learning .

HOW GENERATIVE AI IS SH THE FUTURE OF DATA ANA

Vilnius Cityscape , Lithuania
Analytics has been transformed once again by emerging Generative AI models that can analyse data at a previously unseen scale and speed .

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What key trends do you see shaping the future of data analytics in business intelligence ?
In a little more than a decade , data analytics went through several big transformations . First , it became digitised . Second , we witnessed the emergence of ‘ Big Data ’ analytics , driven partly by digitisation and partly by massively improving storage and processing capabilities . Finally , in the last couple of years , analytics has been transformed once again by emerging Generative AI models that can analyse data at a previously unseen scale and speed . Gen AI is becoming a data analyst ’ s personal assistant , taking over less exciting tasks – from basic code generation to data visualisation .
I believe the key effect of Generative AI – and the main future trend for data analytics – is data democratisation . Recently , there ’ s been a lot of activity around ‘ text to SQL ’ products to run queries in natural language , meaning that people without specialisation in data sciences get the possibility to dive deeper into data analysis .
However , we shouldn ’ t get carried away with the hype too quickly . Those AIpowered tools are neither 100 % accurate nor error-free , and noticing errors is more difficult for less experienced users . The holy grail of analytics is precision combined with a nuanced understanding of the business landscape – skills that are impossible to automate unless we reach some sort of a ‘ general ’ AI .
The second trend that is critical for business data professionals is moving towards a single umbrella-like AI system capable of integrating sales , employee ,
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