How leveraging AI and machine learning can give companies a competitive edge

A recent study by Gartner indicates that by 2025 the 10% of enterprises that establish Machine Learning (ML) or Artificial Intelligence (AI) engineering best practices will generate at least three times more value from their AI and ML efforts than the 90% of enterprises that don't. With such a high value estimated to be derived only from the adoption of ML/AI practices, it is difficult to not agree that the future of enterprises rests heavily on AI and ML technologies with other digital technologies. The pandemic has unveiled a world that embraced technology at a pace that would have otherwise taken ages to evolve. Traditional practices that saw monolithic systems, lack of flexibility and manual processes were all blocking innovation. However, mass new-age technology acceptance induced by the pandemic has helped enterprises overcome these challenges.