3 Fundamental Ways Machine Learning Will Change Business in 2018 Posted on : Dec 14 - 2017

As entrepreneurs, it's our job to evolve and adapt to a changing market. Artificial Intelligence (AI) and machine learning initiatives are creating new opportunities for innovators to offload labor-intensive research and analysis to the cloud.

And, to be clear, "the cloud" is just a fancy term for someone else's computer. But, it's exciting to see these networks of computers crunch data and automate the things that used to eat up our time and server space.

In today's market, the cloud represents a $130 billion industry. And it's projected to continue growing as consumers and corporations continue to offload their data storage, analysis and computing to the cloud.

Machine learning is an exciting, proven concept that allows computers to figure things out for themselves. Instead of every action being explicitly coded, the computer applies pre-configured rules and data sets to perform complex calculations. This technology leverages the cloud in order maximize speed and cost-effectiveness.

Machine learning, powered by the cloud, will impact businesses in the following ways:

1. Data visualization and KPI tracking

When questions are raised -- like what course a company should take when launching a new product or service -- data won't be confined to a database. Instead, machine learning will allow decision-makers to quickly posit questions and get informed answers that are easily digestible.

Visualizing data helps everyone make better decisions. "90 percent of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text." So, the more we focus on making data analysis accessible to every member of the team, the more reliable organizations will become at hitting KPI's.

Business leaders should focus a portion of their team's energy on getting comfortable with visual data. Give every member of the organization access to the information that they need to self-assess their effectiveness -- even if it isn't fully optimized. View More