The primitive era had land, the industrial era had steel machines, and the information age will have data. Data has the unbridled ability to be transformative in ways that are both auspicious and deeply invasive. The amount of information created each minute is growing by 79 zettabytes and having access to this information can mean the difference between a successful political campaign and a company going under. Big data is about knowing an individual but also generalizing and herding people into a group.
It's about safety and vulnerability but also an invasion of privacy. Language and cultures influence one another through social media, business, and travel. We translate emails to business partners in other countries, meet lovers, get an education, and explore a world where thousands of languages and dialects are spoken. By studying frequency, intensity, wavelength, and vocal properties, our virtual assistants will begin to sound more human and will be able to speak several languages at once. Machine translation will replace translators and English will no longer be the global language for business.
According to reports from the Food and Agriculture Organization, world hunger will increase from 8.4% in 2019 to 9.9% in 2023, meaning 800 million people will go hungry. Precision agriculture will help solve this problem by using big data and agriculture. Today, farming equipment is made of mega-machines with tablet interfaces and software directing tractors on where to go. These machines are not driven by farmers, but by information from the soil and the sky. The world's largest agricultural companies are investing billions of dollars into farm analytics, such as an algorithm known as Field Scripts, which can increase crop production by a significant percentage.
In the coming decades, agricultural companies could transform into technological ones, and precision agriculture could be beneficial to the environment by reducing the amount of dangerous chemicals we put into the fields. Finance In 2008, $930 million was invested in fintech, and by 2023 this number will reach $210 billion. Startups that can help banks better serve and understand their customers are becoming increasingly valuable.
Technology banks would focus on people and make it easier for them to open accounts and manage their money, replacing banks that have so far failed to use big data to their advantage. They would also make it easier for people to get loans and pay them back at low interest rates. Military personnel use big data to identify strategic locations that are more likely to be the site of an enemy ambush.
The data is transformed into simple, easy-to-read diagrams and charts to help them come up with an effective plan of action. Palantir is a company that specializes in data analysis. Its customers include the FBI, NSA, and the US military, and its software has been used in the war against drug cartels, cyber fraud, and roadside bombs. The very same technology that can be used to prevent fraud and war can also be used to incite it. We must remember that holding onto technology is like holding onto water.
Medicine and the genomics field is now considered a field of big data because of the amount of information produced. Private investment is going towards therapies, drugs, and diagnostics. Companies like Personal Genome Diagnostics offer tailored and specialized care for people diagnosed with various types of cancer.
The company can suggest the drugs best suited to keep the mutations under control, but often the perfect drug simply doesn't exist. The goal of precision medicine is to develop drugs that are more potent and less destructive than traditional treatments. Big data promises to influence the future of our society in more ways than can be imagined.