Machine learning has made a well-deserved name for itself as one of today’s preeminent disruptive technologies, sending many business professionals and tech analysts alike scrambling to adopt machine learning solutions to achieve their business objectives. Despite the increase in attention being paid to machine learning recently, however, many are still in the dark about how artificial intelligence really works today, and how important it is towards success in the contemporary marketplace.
Here’s everything you need to know about deploying machine learning to build an intelligent enterprise, and the key steps you should avoid if you don’t want to stumble when trying to gain your footing around new technology.
It’s more than mere buzz – machine learning is reshaping the market
While some critics of machine learning assert that it’s a mere buzzword being cashed in on around the market, it’s a matter of fact that intelligent algorithms that learn as they process are coming to seriously reshape how we do business today. Machine learning-related patents grew at a rate of 34 percent from 2013 to 2017, for instance, and spending on AI and machine learning programs will soon balloon to more than $57 billion by 2021 alone.
It’s thus easy to see that deploying machine learning is an essential facet of success today, but how should you go about actually doing it? First things first, you’ll want to read up on the basics, as it’s impossible to dive into a topic like AI and its business applications without having first done your homework.
SAP itself, for instance, decided to step up its machine learning spending and deployment as recently as 2017, and will likely be pouring more resources towards machine learning solutions in the near-future as it grows more popular in the market. Project management, handling complex financial details, and enterprise management are all benefited from adopting machine learning solutions, provided they’re leveraged properly. For instance, many old ways of doing business, like having human-dominated HR departments, will soon be replaced by automated ways of doing business that rely on complex algorithms to tackle the work once done by human employees.
SAP in particular offers some enticing machine learning solutions, though it’s far from the only one available on the market today. Other endeavors, like Amazon ML and Google Cloud ML Engine, will be competing for the attention of business owners trying to establish themselves in the age of GDPR and cookies. Consider all the solutions available to you before deciding which one to purchase, and you’ll avoid making a costly mistake that could come back to haunt you years down the line.
Equipping yourself to succeed
To properly deploy machine learning when building your enterprise, you’ll want to rely on authoritative sources for all your information. That’s why you should consider free training courses, some of which are offered by SAP, to make sure you have the know-how necessary to succeed. Of course, not all of this should be on you alone; you’ll want to rope in any IT team members you have, and consider delegating all ML work that’s not itself automated, in order to spread useful knowledge throughout your operations.
It’s imperative that anyone trying to enlist the help of artificial intelligence in today’s market understand that it’s a finnicky beast prone to change; machine learning innovations are being churned out by the day, essentially, and it’s important to remain flexible if you intend to remain solvent in the marketplace for long. Don’t be afraid to invest at all, of course, but understand that you’ll need to be staying on your toes and on the lookout for the next machine learning-driven trend if you want to do more than hop on the same bandwagon everyone else is riding on.
If you’ll be employing a SAP-based machine learning process to help boost your business’ credentials, you’ll want to read what SAP’s own head of machine learning, Markus Noga, has said about their offerings in order to gain a comprehensive understanding of what you’re getting into. SAP is aiming to offer a systematic approach that will help unite all the benefits of recent developments in big data analytics and machine learning together, and will likely remain one of the best options for you to pursue, particularly if you’re a small business owner on a budget, for the foreseeable future.
Above all else, don’t rush into a purchasing decision because of marketing hype insisting that a new era of technology is here. It’s imperative to remember that machine learning is no small development; to succeed in tomorrow’s market, you’ll almost certainly have to employ it in some way. Understand the difference between reading up on the facts before you make an investment and blindly rushing into one, however, and you’ll be one of those lucky few with the right machine learning tools needed to thrive in today’s innovative business world.