02/08/2021
Machine Learning Strategies: Why Businesses are Failing at it?
https://bit.ly/3j71mHG
Survey says 80% of corporations are finding it difficult to devise effective machine learning strategies.
In the 21st century, it is hard to imagine a life without artificial intelligence. From improving efficiencies to augment human capabilities, AI is intertwined to do anything and everything. Artificial intelligence refers to multiple technologies like machine learning, algorithm, deep learning, etc. that helps in providing significant development opportunities to businesses.
Cost-effective, better customer experience, and all new features are some of the major benefits of machine learning strategies. Still, many companies are failing to develop working AI strategies because there are certain barriers, one needs to overcome before you apply the power of machine learning to your business and operations.
According to Rackspace Technology’s new survey, among 1,870 organizations from different sectors, including finance, retail, manufacturing, healthcare, and government only 20% of companies have mature AI/machine learning strategies. Others are still finding a way out to make it work. Few major challenges organizations face are in the areas of skills, data, and strategy when they integrate AI technologies into their operations, and this is why most machine learning strategies fail.
