AI and Machine Learning: Top Priority with Corporate Executives

AI and Machine Learning: Top Priority with Corporate Executives

Many organizations have started adopting artificial intelligence (AI) and machine learning (ML) solutions, yet the C-level executives are neither data scientis…

Many organizations have started adopting artificial intelligence (AI) and machine learning (ML) solutions, yet the C-level executives are neither data scientists nor AI experts.

AI is not a new concept. However, it is only in the last decade the technology has managed to make advancements worldwide. In the present day, we’re able to speak to our mobile devices and it responds, when we’re trying to book an Uber we receive multiple options with the price updates, or even when we’re streaming service on an online portal, we receive recommendations – we’ve all been experiencing AI-enabled solutions everywhere. It’s just that we tend to ignore them.

In the same manner, early AI adopters such as corporate executives with a fair knowledge of AI and machine learning have started embracing these technologies across enterprises.

And for those with zero knowledge in AI and machine learning have now started evaluating AI and machine learning measuring the risks versus return.

Besides these executives, we also find top data analyst organizations like PricewaterhouseCoopers (PWC), IDC, Forrester, Deloitte, and McKinsey towards early adoption of AI and machine learning. Multiple types of research showed, at the early stages of AI and ML adoption, there was quite a rush in implementing these technologies across enterprises.

As ML and AI products keep developing, the industry predicts around 73 percent of the corporate executives will start implementing AI and ML. Now, this step is taken not because they’re looking to sack workers from their jobs rather to effectively help them. Upskilling and retraining will not only keep these employees satisfied but also helps in filling a position that gets difficult with reduced cost.

Adoption of AI and ML to free human activities includes –

Sales process automation Sales process recommendation Customer service and support Automated preventative maintenance Fraud analysis and investigation Intelligent process automation Interactive advice and recommendations Threat intelligence and prevention

ai ml artificial intelligence machine learning corporate executives business

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