Artificial intelligence (AI) and machine learning (ML) are emerging fields that will transform businesses faster than ever before. In the digital era, success will be based on using analytics to discover key insights locked in the massive volume of data being generated today.
In the past, these insights were discovered using manually intensive analytic methods. Today, that doesn’t work, as data volumes continue to grow as does the complexity of data. AI and ML are the latest tools for data scientists, enabling them to refine the data into value faster.
Data explosion necessitates the need for AI and ML
Historically, businesses operated with a small set of data generated from large systems of record. Today’s environment is completely different where there are orders of magnitude more devices and systems that generate their own data that can be used in the analysis. The challenge for businesses is that there is far too much data to be analyzed manually. The only way to compete in an increasingly digital world is to use AL and ML.