This post was contributed by Principal Solution Marketing Director, Kiran Makarla.
There’s an incredible amount of data in the world these days—more than 2.5 quintillion bytes of data are created every day, and by 2020 it’s estimated that 1.7 MB of data will be created every second for every person on earth. To manage information of such magnitude, businesses need to be smart.
In nearly every industry and market sector, automation will be critical for businesses not only to survive, but to thrive in the years ahead. Forward-looking organizations are embedding artificial intelligence (AI) and machine learning (ML) technologies into their hardware infrastructure, software platforms, and fundamental business processes. They are automating routine activities and learning from the large data sets that enterprises increasingly depend on without overtaxing the IT team.
As companies look to increase their competitiveness, new technologies, including AI, are powering analytics and businesses in new ways: to sense, comprehend, act and learn to unlock new economic possibilities that were previously hidden or unreachable.
Maturity underlies positive digital transformation. As with any adoption curve, the path to an automated future won’t be smooth, businesses must drive these initiatives to remain viable. Those that embrace automation will survive the current instability and go on to flourish. These companies will move along the maturity curve, advancing from automating tasks toward autonomous decision-making.
“Data that is intelligently managed is easy to process, and machine learning is one of those really cool techniques that takes the advantage of that compute power, cloud storage, and the cloud,” says Dain Hansen, vice president of product marketing at Oracle. With improving the efficiency and quality of processes, intelligent automation enhances decision making by automating the routine tasks and learning from the large data sets enterprises increasingly have access to.
There’s a lot at stake, investments in AI and machine learning (ML) is a competitive necessity and the impact of not investing would be a loss of customers and market share, falling behind the competition, and eventually, business failure.
One roadblock is a lack of advanced analytical skills within organizations. Automation facilitates innovation when using AI that is built into an application; users don’t have to be AI experts. However, they do need some expertise in analytical thinking and viewing how systems run through a different lens.
Another roadblock for some enterprises is change management. As intelligent automation changes the business landscape, it creates new jobs and changes current roles. IT departments will be more empowered but they’ll also need to embrace new processes. For example, patching and securing databases will become more automated, enabling database administrators to offload mundane tasks and transition to analytical activities.
Intelligent automation can benefit any industry in terms of effective data use. Right now, organizations leading the way are data intensive companies in industries such as financial services and technology, but all companies that deal with significant amounts of data can benefit, for example, by reducing cost structures.
“AI is not finite; it changes dramatically,” says Hansen. “Every day, every week, there are new techniques, new forms of data ingestion and every day we’re seeing revolutionary new possibilities for how AI can drive new innovations for customers.”
Oracle believes Autonomous Databases and cloud technologies are necessary precursors to being able to fully leverage AI—especially for machine learning and deep learning systems that need lots of training data. It’s very difficult to automate the enterprise without a digital backbone and data driven culture.
This new intelligence can empower people to do things differently, and do different things, to transform at speed. This helps companies find new efficiencies in their core business that unlocks capital. When those opportunities are seized, companies can continue to grow their core business while setting themselves up to create new businesses. Intelligent functions are key to helping companies unlock trapped value and position themselves for future growth.
While intelligent automation is more dream than reality today, enterprises are turning to these tools to deal with the massive amount of data that underlies their businesses. Intelligent automation promises to improve efficiency, quality, customer experience, and more. It will have applications in all parts of the business, from IT to human resources, operations to finance. In the end, blending humans with technology can augment the work of people, freeing them to develop skills, contribute more to business success and be fulfilled in their jobs.
To learn more, read the full article here.