AIB is to fund Dublin City University's first chair in data analytics as part of a five-year partnership to promote a sector that is predicted to generate 30,000 job opportunities out to 2020.
The position will be based in DCU’s School of Computing with AIB also funding the employment of both a postdoctoral researcher and a PhD student.
The size of the funding has not been disclosed but sources in academic circles have put the cost at about €1 million over the period.
Big data is seen as a big growth area in the digital era. The Government’s expert group on future skills needs estimated that about 30,000 job openings in big data and analytics could become available over the next four years.
The McKinsey Global Institute estimates that by 2018 the United States will experience a shortage of 190,000 skilled data scientists and 1.5 million managers and analysts.
Research
AIB chief executive Bernard Byrne said the chair in data analytics would build on DCU's reputation by producing research to help both private- and public-sector organisations gain insights from the large volumes of data they collect.
“This partnership between AIB and DCU will help provide world-class graduates with the necessary combination of analytical, technical, numerical and business skills to work in areas that are key to Ireland’s strategic interests such as information and communications technology, finance, healthcare, and agrifood,” he said.
“At AIB, we are investing heavily in data analytics and are focused on getting the best talent to interpret the data helping provide a better customer experience.
DCU president professor Brian MacCraith said the university would also be launching a BSc in data science next year.
“In our increasingly technology-driven world we are inundated on a daily basis with data,” he said. “Data analytics allows us to mine and harness these rich seams of information for insights that can improve our lives in many ways – whether it be improving healthcare, helping science and research to unlock the secrets of our universe, detecting and preventing cyber-attacks or fraud, creating smarter cities and towns for our citizens or helping businesses understand customer behaviour.’’
