With big data expected to generate more than $16 billion in revenue this year alone, it should come as no surprise that some of the largest players in the industry are starting to pour additional resources into their efforts.
The latest money dump? Verizon.
The telco is opening a new data analytics R&D center in Palo Alto, Calif., focusing on artificial intelligence and machine-learning activities.
“With the large base of big data and analytics talent in Silicon Valley, we are looking for the best and the brightest individuals who want the challenge of working on cutting-edge technologies,” said Ashok N. Srivastava, Verizon’s chief data scientist . “We are working in a startup environment, but inside a large corporation… We have the opportunity to build intelligent systems based on recent advances in large-scale machine learning, analytics and the powerful computing technologies available today.”
Verizon said its immediate focus would be on helping to develop intelligent systems to improve the efficiency of many critical aspects of the company’s infrastructure.
“Verizon runs some of the most complex networks in the world – both because of the sheer number of components involved and the extremely high degree of reliability and resiliency we require,” said Srivastava. “We are heading in the direction of building intelligent systems that can automatically sense issues and then use algorithms to make decisions in real time to address a problem before it becomes significant.”
Big data and analytics also play a major role in online video, where publishers use video analytics to measure the performance of individual videos, online video ads and campaigns.
Increasingly, big data and analytics also are being used to develop content discovery and recommendation products to help extend viewer engagement.