Before you can start benefiting from AI or Machine Learning, you need to understand what it’s built for. We always say that ML is there to solve problems. That’s true, but it’s not a quick fix or a targeted arrow that can swiftly and precisely make a small change within your company. Instead, deep learning technology is there to change everything. In fact – 80% of C-level execs believe that the very future of their business hinges on the AI opportunities they take advantage of.
Identifying these opportunities, and how they suit your specific organizational goals is just the first step, but it’s foundational if you want to see success.
‘Magic Wand’ Business Goals
Start with the challenges your business is facing, rather than any one specific use case or technology. What are your business goals, what would you wish for if you could wave a magic wand? Think outside of the box, and consider the journey to an outcome rather than the outcome itself.
This manufacturing example can explain what we mean. Consider a factory that is looking to implement machine learning. Their desired business outcome could be to spend less money on maintaining machinery, which is causing a huge hit to their revenues each month. The Machine Learning magic wand is to know ahead of time which machines are in danger of breaking down, buying the right parts in bulk, or avoiding maintenance in ‘crisis mode’ that costs far more. This is the basis of predictive ML models that can use your existing data to look ahead and make intelligent and accurate predictions.
We’re sometimes asked how out of the box your organizational goals can be? What are the limits of Machine Learning, really? Ask medical professionals, who use deep learning image analysis to recognize, treat and track cancer, diagnosing years earlier than traditional medicine, and with a better mortality rate for patients. If AI is on the way to curing cancer, then you better believe that the sky really is the limit.
Where is the Technology to Make this Happen?
Many companies struggle with this ‘Think Big’ mindset, feeling too optimistic, or worrying that the technology isn’t out there to support their dreams. This may have been the case when Machine Learning was in its infancy – but the growth in cloud infrastructure has truly changed the ability of everyday businesses to take advantage of the latest innovation.
The technology is there, but the journey to making it work will affect every person in your company, and might entail a shift in culture or mindset. From experience, it is important to get senior leadership buy-in to ensure your business and technology strategies align. Finding a partner who can guide you through the process is essential.
In our next blog, we will discuss what comes next after setting your organization goals, ensuring that your data is in order and ready to be transformed into a cloud-ready source of potential.