81% of business and technology professionals in Belatrix’s recent survey believe that machine learning will have some or significant impact on their organizations within the next 5 years. Are you ready for the shift that artificial intelligence and machine learning is going to bring?
In order to help organizations prepare for the changes afoot, last month we conducted a survey to better understand machine learning and the results were very telling. 40% of organizations said they were actively investigating, while 12% had already started a machine learning initiative. This gap between organizations which have already started and those which are investigating reflect some of the core challenges with machine learning. The biggest challenge according to our survey is actually finding and hiring the people with the right skills.
Because while machine learning has received a lot of attention from both the technology and mainstream press over the past few months, there is some hype. Gartner for instance published research arguing we will see the emergence of “3 million robo-bosses by 2018”. Although this assertion has been widely challenged, it does reflect the rapid maturing of artificial intelligence, automation, and machine learning. At the recent CIARP international conference on machine learning and pattern recognition, Belatrix saw first-hand the widespread use cases emerging in industries as varied as medicine, retail, and security.
In a more sober interpretation of what artificial intelligence can and cannot do at the moment, Andrew Ng, the head of Baidu’s AI team has pointed out that, “If a typical person can do a mental task with less than one second of thought, we can probably automate it using AI either now or in the near future.” In many industries there is already significant scope for where this supervised learning (where a machine learns from existing data) can provide significant benefits. Think of a fintech company for example which can automate the loan approval process- there is a clear set of data which is inputted and the machine can then make the decision without the need for human intervention. Or to cite some other examples of projects we are actually working on at Belatrix we can mention using neural networks to predict the risk of personnel attrition based on information that already exists in HR, project management and training systems; or helping clients make sense of thousands of IoT devices that are collecting data every few seconds, data which could be used to reduce maintenance costs, improve logistics or react more effectively to outside environmental changes like weather and others
To help organizations prepare for the emergence of machine learning and artificial intelligence, Belatrix prepared an infographic to highlight the key data points, and I encourage you to download and review the data. And if you’d like to know more about Belatrix’s work in machine learning, please contact us.
Download the infographic here.