MANILA, Philippines – According to the Asian Institute of Management (AIM), the global outbreak of artificial intelligence or AI and big data has emphasized the demand for additional financing in Data Science.
The Banko Sentral ng Pilipinas, Security Bank, ATR Asset Management, SM Investments, the Aboitiz Group, the Ayala Group, and Mindanao State University are all financing the 26,500 US Dollar tuition of nineteen students for the first batch of the Asian Institute of Management Masters of Science in Data Science (MSDS).
Dr. Ji Kyeong Kang, President and Dean of the Asian Institute of Management, says that the said course is the first in Asia.
She said in a report that data science is a sector wherein a large sum of investment is needed. Depending on what field you are in, the number of occupations will decrease or be even lost, but at the same time, several new works will also be established. With this said, we have to prepare the young generation and this society for the new jobs that will arise.
Kang noted that there are a lot of business process outsourcing companies in the Philippines, as well as a massive number of people that are engaged in that field of work. With the rise of artificial intelligence and machine learning, a lot of these careers will be down-dated.
The Banko Sentral ng Pilipinas will be sponsoring four students. However, Kang says that it wished to shoulder the expense of more students.
Rosemarie Amodia, an AIM Student who also works for the BSP Department of Economic Research, is one of the scholars of the Banko Sentral ng Pilipinas. She expressed that her immediate goal is to ensure that the country has the conventional technology and the correct method of using and managing this intelligence to guarantee that we are able to aid the decision making of our policymakers.
The central bank is not the only one acknowledging the significance of data analytics – which will be a skill improvement.
Carlos Domingues, Department of Finance Secretary, mentioned earlier this year that the BPO industry has already been advised years ago to likewise venture in this area. He indicated that in 2016, he noted that tax would not be the sector’s biggest problem. Hence, the challenge is Artificial Intelligence, which is the reason why the industry is facing only a little to no progress. In that said, he added that the sector needs to attend to that matter.
All the students of the first batch for the degree in Masters of Science in Data Science in AIM are Filipino. They are presumed to finish the course in fourteen months.
The Asian Institute of Management is the first to offer a Masters Degree in Data Science, but they definitely won’t be the last one.
It was said in a report that green, blue, and yellow universities would likewise be offering similar courses in the near future.
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