Artificial intelligence (AI) has become one of the biggest technology trends. Although many managers have fully understood the potential of AI in the past, the arrival of new, more business-oriented solutions, along with everything that has happened in 2021, is encouraging them to adopt it. Amazon Web Services (AWS) is a pioneer in delivering AI and machine learning applications to improve and modernize businesses, helping solve critical problems in customer engagement, process optimization, and fraud detection. AI and machine learning are on the rise, and according to the 2020 Senior Leadership IT Investment study, led by CCS Insights, more than 80% of companies will use them in 2022.
However, they will have to be aware of the challenges these innovative technologies entail and remove obstacles to get the most out of technology. The difficulties of harnessing AI and machine learning AI/machine learning technologies improve many industries and areas, from product development to employee productivity to cybersecurity. However, some challenges prevent organizations from taking full advantage of their benefits. You have to understand these challenges to overcome them.
First, identifying and prioritizing the projects that deliver the most business value and going into production quickly is often problematic. In the CCS Insight study, more than 20% of companies noted that the time taken to benefit from AI was one of the biggest challenges. The change in the pandemic’s business environment has meant that companies can no longer afford to have frozen investments in long-term projects and proofs of concept. According to the UK Office for National Statistics, as of November 2020, a staggering 30% of businesses are operating with less than three months of cash reserves.
Another of the main challenges for deploying machine learning projects is the lack of technical knowledge in data science, development, and engineering in this area. Research shows that 30% of companies struggle to meet the challenges posed by data because they lack the fluency and experience to make business and operational decisions. This implies that we must consider the significant gaps in applied fields such as transposing business requirements, quantifying corporate results, and operating and corporate governance practices.
Lastly, organizations are becoming increasingly aware of security, compliance, and ethics in their business. Therefore, companies are willing to apply principles, practices, and technologies that allow ethical, transparent, safe, and responsible AI projects. To overcome these challenges and advance their AI and digital transformation strategies, business leaders must consider the growing set of business AI solutions that have emerged in the last 18 months.
Business leaders must consider the growing set of business AI solutions or AI applications packaged and focused on solving everyday business and industry problems to advance digital transformation strategies. They require little or no machine learning expertise and can reduce costs and radically accelerate the time it takes to realize business value from AI.
The time has come for companies to seize the opportunities offered by AI and machine learning. Services based on these technologies are on the rise and allow companies, regardless of their sector, to improve their performance and their results. Companies like AWS are accompanying many organizations as they prepare for the future with AI starting today. Executives should seize this opportunity by implementing AI in their business, especially in the post-COVID-19 economy.
Also Read: What Is The Relationship Between Digital Transformation And Organizational Culture?
In this social media generation having more followers to social media accounts is the one…
In today's fast-paced financial landscape, cryptocurrencies have carved a prominent niche for themselves. As they…
Are you looking for a tool that can revolutionize the way you perform diagramming tasks?…
Who do not want to stalk into their friends or crush Instagram and view their…
Mindfulness is the practice of focusing on the present moment while acknowledging and accepting one's…
Instagram is a popular social media platform that is used by everyone across the world.…