As one of the world’s fastest-growing industries, with a predicted compound annual growth rate of 16.43% anticipated between 2022 and 2030, data science is the ideal choice for your career. Jobs will be plentiful. Opportunities for career advancement will come thick and fast. And even at the most junior level, you’ll enjoy a salary that comfortably sits in the mid-five figures.


Studying for a career in this field involves learning the basics (and then the complexities) of programming languages including C+, Java, and Python. The latter is particularly important, both due to its popularity among programmers and the versatility that Python brings to the table. Here, we explore the importance of Python for data science and how you’re likely to use it in the real world.


Why Python for Data Science?


We can distill the reasons for learning Python for data science into the following five benefits.


Popularity and Community Support


Statista’s survey of the most widely-used programming languages in 2022 tells us that 48.07% of programmers use Python to some degree. Leftronic digs deeper into those numbers, telling us that there are 8.2 million Python developers in the world. As a prospective developer yourself, these numbers tell you two things – Python is in demand and there’s a huge community of fellow developers who can support you as you build your skills.


Easy to Learn and Use


You can think of Python as a primer for almost any other programming language, as it takes the fundamental concepts of programming and turns them into something practical. Getting to grips with concepts like functions and variables is simpler in Python than in many other languages. Python eventually opens up from its simplistic use cases to demonstrate enough complexity for use in many areas of data science.


Extensive Libraries and Tools


Given that Python was first introduced in 1991, it has over 30 years of support behind it. That, combined with its continued popularity, means that novice programmers can access a huge number of tools and libraries for their work. Libraries are especially important, as they act like repositories of functions and modules that save time by allowing you to benefit from other people’s work.


Integration With Other Programming Languages


The entire script for Python is written in C, meaning support for C is built into the language. While that enables easy integration between these particular languages, solutions exist to link Python with the likes of C++ and Java, with Python often being capable of serving as the “glue” that binds different languages together.


Versatility and Flexibility


If you can think it, you can usually do it in Python. Its clever modular structure, which allows you to define functions, modules, and entire scripts in different files to call as needed, makes Python one of the most flexible programming languages around.



Setting Up Python for Data Science


Installing Python onto your system of choice is simple enough. You can download the language from the Python.org website, with options available for everything from major operating systems (Windows, macOS, and Linux) to more obscure devices.


However, you need an integrated development environment (IDE) installed to start coding in Python. The following are three IDEs that are popular with those who use Python for data science:


  • Jupyter Notebook – As a web-based application, Jupyter easily allows you to code, configure your workflows, and even access various libraries that can enhance your Python code. Think of it like a one-stop shop for your Python needs, with extensions being available to extend its functionality. It’s also free, which is never a bad thing.
  • PyCharm – Where Jupyter is an open-source IDE for several languages, PyCharm is for Python only. Beyond serving as a coding tool, it offers automated code checking and completion, allowing you to quickly catch errors and write common code.
  • Visual Studio Code – Though Visual Studio Code alone isn’t compatible with Python, it has an extension that allows you to edit Python code on any operating system. Its “Linting” feature is great for catching errors in your code, and it comes with an integrated debugger that allows you to test executables without physically running them.

Setting up your Python virtual environment is as simple as downloading and installing Python itself, and then choosing an IDE in which to work. Think of Python as the materials you use to build a house, with your IDE being both the blueprint and the tools you’ll need to patch those materials together.


Essential Python Libraries for Data Science


Just as you’ll go to a real-world library to check out books, you can use Python libraries to “check out” code that you can use in your own programs. It’s actually better than that because you don’t need to return libraries when you’re done with them. You get to keep them, along with all of their built-in modules and functions, to call upon whenever you need them. In Python for data science, the following are some essential libraries:


  • NumPy – We spoke about integration earlier, and NumPy is ideal for that. It brings concepts of functionality from Fortran and C into Python. By expanding Python with powerful array and numerical computing tools, it helps transform it into a data science powerhouse.
  • pandas – Manipulating and analyzing data lies at the heart of data sciences, and pandas give you a library full of tools to allow both. It offers modules for cleaning data, plotting, finding correlations, and simply reading CSV and JSON files.
  • Matplotlib – Some people can look at reams of data and see patterns form within the numbers. Others need visualization tools, which is where Matplotlib excels. It helps you create interactive visual representations of your data for use in presentations or if you simply prefer to “see” your data rather than read it.
  • Scikit-learn – The emerging (some would say “exploding) field of machine learning is critical to the AI-driven future we’re seemingly heading toward. Scikit-learn is a library that offers tools for predictive data analysis, built on what’s available in the NumPy and Matplotlib libraries.
  • TensorFlow and Keras – Much like Scikit-learn, both TensorFlow and Keras offer rich libraries of tools related to machine learning. They’re essential if your data science projects take you into the realms of neural networks and deep learning.

Data Science Workflow in Python


A Python programmer without a workflow is like a ship’s captain without a compass. You can sail blindly onward, and you may even get lucky and reach your destination, but the odds are you’re going to get lost in the vastness of the programming sea. For those who want to use Python for data science, the following workflow brings structure and direction to your efforts.


Step 1 – Data Collection and Preprocessing


You need to collect, organize, and import your data into Python (as well as clean it) before you can draw any conclusions from it. That’s why the first step in any data science workflow is to prepare the data for use (hint – the pandas library is perfect for this task).


Step 2 – Exploratory Data Analysis (EDA)


Just because you have clean data, that doesn’t mean you’re ready to investigate what that data tells you. It’s like washing ingredients before you make a dish – you need to have a “recipe” that tells you how to put everything together. Data scientists use EDA as this recipe, allowing them to combine data visualization (remember – the Matplotlib library) with descriptive statistics that show them what they’re looking at.


Step 3 – Feature Engineering


This is where you dig into the “whats” and “hows” of your Python program. You’ll select features for the code, which define what it does with the data you import and how it’ll deliver outcomes. Scaling is a key part of this process, with scope creep (i.e., constantly adding features as you get deeper into a project) being the key thing to avoid.


Step 4 – Model Selection and Training


Decision trees, linear regression, logistic regression, neural networks, and support vector machines. These are all models (with their own algorithms) you can use for your data science project. This step is all about selecting the right model for the job (your intended features are important here) and training that model so it produces accurate outputs.


Step 5 – Model Evaluation and Optimization


Like a puppy that hasn’t been house trained, an unevaluated model isn’t ready for release into the real world. Classification metrics, such as a confusion matrix and classification report, help you to evaluate your model’s predictions against real-world results. You also need to tune the hyperparameters built into your model, similar to how a mechanic may tune the nuts and bolts in a car, to get everything working as efficiently as possible.


Step 6 – Deployment and Maintenance


You’ve officially deployed your Python for data science model when you release it into the wild and let it start predicting outcomes. But the work doesn’t end at deployment, as constant monitoring of what your model does, outputs, and predicts is needed to tell you if you need to make tweaks or if the model is going off the rails.


Real-World Data Science Projects in Python


There are many examples of Python for data science in the real world, some of which are simple while others delve into some pretty complex datasets. For instance, you can use a simple Python program to scrap live stock prices from a source like Yahoo! Finance, allowing you to create a virtual ticker of stock price changes for investors.


Alternatively, why not create a chatbot that uses natural language processing to classify and respond to text? For that project, you’ll tokenize sentences, essentially breaking them down into constituent words called “tokens,” and tag those tokens with meanings that you could use to prompt your program toward specific responses.


There are plenty of ideas to play around with, and Python is versatile enough to enable most, so consider what you’d like to do with your program and then go on the hunt for datasets. Great (and free) resources include The Boston House Price Dataset, ImageNet, and IMDB’s movie review database.



Try Python for Data Science Projects


By combining its own versatility with integrations and an ease of use that makes it welcoming to beginners, Python has become one of the world’s most popular programming languages. In this introduction to data science in Python, you’ve discovered some of the libraries that can help you to apply Python for data science. Plus, you have a workflow that lends structure to your efforts, as well as some ideas for projects to try. Experiment, play, and tweak models. Every minute you spend applying Python to data science is a minute spent learning a popular programming language in the context of a rapidly-growing industry.

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CCN: Australia Tightens Crypto Oversight as Exchanges Expand, Testing Industry’s Appetite for Regulation
OPIT - Open Institute of Technology
OPIT - Open Institute of Technology
Mar 31, 2025 3 min read

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  • CCN, published on March 29th, 2025

By Kurt Robson

Over the past few months, Australia’s crypto industry has undergone a rapid transformation following the government’s proposal to establish a stricter set of digital asset regulations.

A series of recent enforcement measures and exchange launches highlight the growing maturation of Australia’s crypto landscape.

Experts remain divided on how the new rules will impact the country’s burgeoning digital asset industry.

New Crypto Regulation

On March 21, the Treasury Department said that crypto exchanges and custody services will now be classified under similar rules as other financial services in the country.

“Our legislative reforms will extend existing financial services laws to key digital asset platforms, but not to all of the digital asset ecosystem,” the Treasury said in a statement.

The rules impose similar regulations as other financial services in the country, such as obtaining a financial license, meeting minimum capital requirements, and safeguarding customer assets.

The proposal comes as Australian Prime Minister Anthony Albanese’s center-left Labor government prepares for a federal election on May 17.

Australia’s opposition party, led by Peter Dutton, has also vowed to make crypto regulation a top priority of the government’s agenda if it wins.

Australia’s Crypto Growth

Triple-A data shows that 9.6% of Australians already own digital assets, with some experts believing new rules will push further adoption.

Europe’s largest crypto exchange, WhiteBIT, announced it was entering the Australian market on Wednesday, March 26.

The company said that Australia was “an attractive landscape for crypto businesses” despite its complexity.

In March, Australia’s Swyftx announced it was acquiring New Zealand’s largest cryptocurrency exchange for an undisclosed sum.

According to the parties, the merger will create the second-largest platform in Australia by trading volume.

“Australia’s new regulatory framework is akin to rolling out the welcome mat for cryptocurrency exchanges,” Alexander Jader, professor of Digital Business at the Open Institute of Technology, told CCN.

“The clarity provided by these regulations is set to attract a wave of new entrants,” he added.

Jader said regulatory clarity was “the lifeblood of innovation.” He added that the new laws can expect an uptick “in both local and international exchanges looking to establish a foothold in the market.”

However, Zoe Wyatt, partner and head of Web3 and Disruptive Technology at Andersen LLP, believes that while the new rules will benefit more extensive exchanges looking for more precise guidelines, they will not “suddenly turn Australia into a global crypto hub.”

“The Web3 community is still largely looking to the U.S. in anticipation of a more crypto-friendly stance from the Trump administration,” Wyatt added.

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Agenda Digitale: Generative AI in the Enterprise – A Guide to Conscious and Strategic Use
OPIT - Open Institute of Technology
OPIT - Open Institute of Technology
Mar 31, 2025 6 min read

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By Zorina Alliata, Professor of Responsible Artificial Intelligence e Digital Business & Innovation at OPIT – Open Institute of Technology

Integrating generative AI into your business means innovating, but also managing risks. Here’s how to choose the right approach to get value

The adoption of generative AI in the enterprise is growing rapidly, bringing innovation to decision-making, creativity and operations. However, to fully exploit its potential, it is essential to define clear objectives and adopt strategies that balance benefits and risks.

Over the course of my career, I have been fortunate to experience firsthand some major technological revolutions – from the internet boom to the “renaissance” of artificial intelligence a decade ago with machine learning.

However, I have never seen such a rapid rate of adoption as the one we are experiencing now, thanks to generative AI. Although this type of AI is not yet perfect and presents significant risks – such as so-called “hallucinations” or the possibility of generating toxic content – ​​it fills a real need, both for people and for companies, generating a concrete impact on communication, creativity and decision-making processes.

Defining the Goals of Generative AI in the Enterprise

When we talk about AI, we must first ask ourselves what problems we really want to solve. As a teacher and consultant, I have always supported the importance of starting from the specific context of a company and its concrete objectives, without inventing solutions that are as “smart” as they are useless.

AI is a formidable tool to support different processes: from decision-making to optimizing operations or developing more accurate predictive analyses. But to have a significant impact on the business, you need to choose carefully which task to entrust it with, making sure that the solution also respects the security and privacy needs of your customers .

Understanding Generative AI to Adopt It Effectively

A widespread risk, in fact, is that of being guided by enthusiasm and deploying sophisticated technology where it is not really needed. For example, designing a system of reviews and recommendations for films requires a certain level of attention and consumer protection, but it is very different from an X-ray reading service to diagnose the presence of a tumor. In the second case, there is a huge ethical and medical risk at stake: it is necessary to adapt the design, control measures and governance of the AI ​​to the sensitivity of the context in which it will be used.

The fact that generative AI is spreading so rapidly is a sign of its potential and, at the same time, a call for caution. This technology manages to amaze anyone who tries it: it drafts documents in a few seconds, summarizes or explains complex concepts, manages the processing of extremely complex data. It turns into a trusted assistant that, on the one hand, saves hours of work and, on the other, fosters creativity with unexpected suggestions or solutions.

Yet, it should not be forgotten that these systems can generate “hallucinated” content (i.e., completely incorrect), or show bias or linguistic toxicity where the starting data is not sufficient or adequately “clean”. Furthermore, working with AI models at scale is not at all trivial: many start-ups and entrepreneurs initially try a successful idea, but struggle to implement it on an infrastructure capable of supporting real workloads, with adequate governance measures and risk management strategies. It is crucial to adopt consolidated best practices, structure competent teams, define a solid operating model and a continuous maintenance plan for the system.

The Role of Generative AI in Supporting Business Decisions

One aspect that I find particularly interesting is the support that AI offers to business decisions. Algorithms can analyze a huge amount of data, simulating multiple scenarios and identifying patterns that are elusive to the human eye. This allows to mitigate biases and distortions – typical of exclusively human decision-making processes – and to predict risks and opportunities with greater objectivity.

At the same time, I believe that human intuition must remain key: data and numerical projections offer a starting point, but context, ethics and sensitivity towards collaborators and society remain elements of human relevance. The right balance between algorithmic analysis and strategic vision is the cornerstone of a responsible adoption of AI.

Industries Where Generative AI Is Transforming Business

As a professor of Responsible Artificial Intelligence and Digital Business & Innovation, I often see how some sectors are adopting AI extremely quickly. Many industries are already transforming rapidly. The financial sector, for example, has always been a pioneer in adopting new technologies: risk analysis, fraud prevention, algorithmic trading, and complex document management are areas where generative AI is proving to be very effective.

Healthcare and life sciences are taking advantage of AI advances in drug discovery, advanced diagnostics, and the analysis of large amounts of clinical data. Sectors such as retail, logistics, and education are also adopting AI to improve their processes and offer more personalized experiences. In light of this, I would say that no industry will be completely excluded from the changes: even “humanistic” professions, such as those related to medical care or psychological counseling, will be able to benefit from it as support, without AI completely replacing the relational and care component.

Integrating Generative AI into the Enterprise: Best Practices and Risk Management

A growing trend is the creation of specialized AI services AI-as-a-Service. These are based on large language models but are tailored to specific functionalities (writing, code checking, multimedia content production, research support, etc.). I personally use various AI-as-a-Service tools every day, deriving benefits from them for both teaching and research. I find this model particularly advantageous for small and medium-sized businesses, which can thus adopt AI solutions without having to invest heavily in infrastructure and specialized talent that are difficult to find.

Of course, adopting AI technologies requires companies to adopt a well-structured risk management strategy, covering key areas such as data protection, fairness and lack of bias in algorithms, transparency towards customers, protection of workers, definition of clear responsibilities regarding automated decisions and, last but not least, attention to environmental impact. Each AI model, especially if trained on huge amounts of data, can require significant energy consumption.

Furthermore, when we talk about generative AI and conversational models , we add concerns about possible inappropriate or harmful responses (so-called “hallucinations”), which must be managed by implementing filters, quality control and continuous monitoring processes. In other words, although AI can have disruptive and positive effects, the ultimate responsibility remains with humans and the companies that use it.

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