“Due to advances in technology organizations now have no problem capturing large amounts of data, but leveraging it to generate insights for decision-making is not as simple.”
This was a reoccurring topic at this year’s Big Data & Analytics Summit 2020. As Johnathan Bald the Data Solutions Principal, Analytics & IoT from Hitachi Vantara Canada said in his session — we’re data rich and insight poor. This is where the implementation of AI and ML can make a significant difference. AI can be used to predict and shape future outcomes as well as unlock the value of predictive data.
70% of organizations will integrate AI into the workplace by 2021 to assist employees’ productivity, according to Gartner Inc. By automating mundane and time-consuming tasks, employees can dedicate their time to where it really counts. They can focus on creative projects or solutions. Jessica Rockwood the VP of Engineering from IBM Watson said, “you want to make sure you spend people time where you need people to do the work.” When it can be codified, leave it to the AI. She went on to say that the fear of AI conquering the workplace and replacing jobs is not reality. “What it’s going to do is make us far more efficient in our jobs,” she said. In October 2018, Microsoft presented research demonstrating that UK companies using AI are outperforming those with no AI strategy by 5%, in areas like productivity, performance and business outcomes.