The potential benefits of creating intelligence are huge. We cannot predict what we might achieve when our own minds are amplified by AI. Perhaps with the tools of this new technological revolution, we will be able to undo some of the damage done to the natural world by the last one – industrialization. And surely we will aim to finally eradicate disease and poverty. -Stephen Hawking
Led by entrepreneur, Gurbaksh Chahal, Taara Labs is an incubator helping build companies that solve problems in the fields of Artificial Intelligence, IoT and Data Sciences. In the next era of the Internet, these areas are expected to create the biggest impact on our world economies and our day-to-day lives.
Artificial intelligence will change the world as we know it. Machine learning algorithms, and especially within the subfield of deep learning, have advanced rapidly in the last few years. In addition, there has been an intense development of machine learning software. This is improving the quality of the algorithms and making tools easier to use, lowering the barriers to entry for aspiring data scientists. Because of the strong dependency on machine learning tools, advancements in this field directly influence the usefulness and capabilities of data science.
Today, we have approximately 7 billion connected IoT devices globally, and this number is predicted to increase to 21.5 billion in in 7 years. Not only are more devices coming online, but as the hardware improves, the type of data they deliver will be richer and more diverse. The largest generators of IoT data are expected to be the airline, mining and auto industries.
The exponential growth in data we have witnessed since the beginning of our digital era is not expected to slow down anytime soon. In fact, we have probably just seen the tip of the iceberg. The coming years will bring about an ever increasing torrent of data. This new data will function as rocket fuel for data science models, giving rise to better technologies as well as new and innovative use cases.
Our computational abilities are developing in tandem with our machine learning algorithms and the increasing amounts of data. We are creating increasingly powerful computers that can store even more data and process that data faster than ever before.
For neural nets, we have made the shift from CPUs to TPUs, and cloud service providers are constantly improving their services — with all the major players offering Machine Learning as a Service, MLaaS. The trend in improved computing and easier access to those resources is a strong driver for the data sciences sector.
We live and breathe ways AI, IoT, and Data Sciences can create new opportunities and address some of the challenges various industries are trying to solve. If you are working on any of these areas and want our help, we would love to see how we can support you.
Want to build your next Company with Taara Labs? Apply to be part of our incubator!
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