It has been almost impossible in the last ten or so years to do things without the aid of a machine. We rely on computers, phones, cars, and more to help us live comfortable and enjoyable lives. Manual labor is quickly becoming a thing of the past. As we head into 2019, artificial intelligence (AI) and machine learning will become even more popular and commonplace than they have been in the last ten years, although they aren’t new to the business world. This post will share a handful of machine learning predictions for 2019 and how they will change how businesses are run.
Machine Learning (ML) is revolutionizing the business world in a couple of ways. First,
B2B Sales And Marketing
The first area where machine learning (ML) is bringing about a revolution is in B2B sales and marketing. ML algorithms are helping B2B sales teams optimize revenue and score qualified leads. However, enterprises are struggling in their adoption of machine learning here because of “weaknesses in internal customer databases.” There are two barriers to companies embracing this technology fully: limited and inaccurate data and immature AI technology. Once companies are able to analyse, explore and understand their first-party data and improve it with third-party data and machine learning algorithms, they will have much better command over using AI to augment their B2B sales and marketing.
Science And Innovation In Machine Learning
In 2019, it is predicted that science projects and innovation labs will turn into full productions led by industry disruptors. While it’s true that most companies have ongoing machine learning projects, those projects are reliant on special programs in order to be successful. This year, industry disruptors will bring machine learning to their data rather than the other way around. Managing data in this way will lead to more accurate information and better outcomes, such as predictive maintenance on medical devices and proactive fraud detection and prevention.
Automated Machine Learning
With the advent of automated machine learning, it is now easier to build and use machine learning models by running systematic processes on raw data. Automated machine learning incorporates “machine learning best practices from top-ranked data scientists to make data science more accessible across the organization.” By automating machine learning, there is room for greater agility in problem-solving. Automated machine learning also facilitates the “democratization of data science to include those without extensive programming knowledge.” By making machine learning more accessible, people who work in other departments are able to expand their skill-set, thus making themselves more valuable to current and future employers.
Data Scientists Will Become Essential
With artificial intelligence and machine learning becoming more mainstream in 2019 and beyond, there will be a greater need for data scientists. In fact, data scientists are now likely to become the rockstars of the business world. Data scientists need to be versatile and flexible; they need to be able to prepare, process, and make insights over a wide variety of data that can be used by ML algorithm to have more accurate and useful predictions. For instance, there is already a huge dearth of security experts who understand both data science and computer science in order to make sense of the security data available to us. Once the data has been prepared and interpreted, it can “then be used by AI and ML techniques to automate security in real time.”
This is just a peek into how artificial intelligence and machine learning will drive business (and many more specific aspects of business) in 2019. As business owners, we need to be prepared to roll with the punches and be willing to experience some growing pains.