The world’s most valuable resource is now data, not oil, The Economist reports. Small wonder that artificial intelligence (AI) and machine learning (ML) technologies have become indispensable business tools today, and a foundational element of modern enterprises, according to Forrester. As things stand, with 80% of executives believing that automation can be applied to any business decision, AI and ML tools are currently the most popular area where business IT departments will invest in 2023. But for IT leaders, along with the added opportunities that these new advancements create will also come the added need to rethink how they cost-effectively deploy, integrate, and manage AI and ML solutions across the enterprise.
“As you might imagine, we’re seeing a skyrocketing number of enterprises and law firms looking to tap into the power of artificial intelligence and machine learning services, which are also thankfully becoming increasingly available off-the-shelf in ready-to-go and pay-as-needed formats these days,” notes Taylor Tresatti, head of industry research for BIZDEV: The International Association for Business Development. “On top of this, many organizations are also on the hunt for solutions that let them layer natural language processing [speech recognition] and deep learning capabilities on top of preexisting apps, tools, and systems as well. However, these growing demands can put an increasingly strain on growingly overworked and time-deprived IT departments. As a result, more and more technology pros are looking for tools and solutions that can help them more rapidly and cost-efficiently gain more insight and actionable strategies from their data.”