AI and ML are the Future

There are few things that are as intriguing to companies as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). These new technologies can potentially enable new business models and predictive maintenance, optimize and automate processes, and save costs. For example, IoT already enables availability of information in near real time through sensors and connectivity; consequently, it is driving the digitalization of many processes. Furthermore, IoT and AI (and as part of it, ML) are more connected than ever before.

AI is often an accelerator

Up until now, only damages that lead to downtimes and delays were of interest. Now, modern sensors, intelligent data analytics, and digital networks enable companies to prevent downtimes and delays altogether. IoT sensors send signals to AI solutions which then can predict damages and defects before they happen. Consequently, AI solutions can then optimize maintenance and improve logistics and manufacturing processes. AI and ML are especially useful for analyzing massive data volumes. Using past business data, IT systems can then independently recognize repeating patterns.

A look at the current status of AI and ML at companies in Germany reveals a differentiated picture. According to the study "Machine Learning/Deep Learning 2019" by the market research company IDG, half of the companies use at least one ML application (57 percent).

Many companies already use AI and ML in daily operations. However, especially smaller companies are having difficulties implementing suitable machine learning models or algorithms. Most of them need external IT specialists to support them because they lack resources and know-how.

In addition, the complexity of the entire IT landscape is growing. But which programs and systems work well and which work poorly together? Companies need professional help to make such decisions. Because a single person can no longer cover today's bandwidth.

Support is urgently needed

What is needed, then, is always a team of experts, which smaller and medium-sized companies often cannot afford. Instead, in these fast-moving times, they run the risk of tying themselves to certain products for the long term and therefore soon possibly being cut off from rapid progress.

External AI and ML specialists ensure the successful implementation of AI systems in existing processes and IT structures. Some require special applications or sensitive data in a separate cloud. Which brings us to the topic of data protection. IT consultants can provide support in this area as well. That’s because the quality of an AI application is largely tied to the quality of the data it receives, making the question of data security essential.

All the investment and effort is worth it in the long term. However, companies need to keep in mind that the implementation of AI is not easy. Because of the high technological effort, it’s expensive and time-consuming; not to mention the change in corporate culture and the need for change management.

Some savings can certainly be realized very quickly. However, it turns out that many positive effects are often only achieved over longer periods of time. The sooner you start integrating them into your processes and workflows, the better. Because one thing is certain: AI will be an integral part of most companies' everyday lives in the future. Those who rethink products and work with AI will be among the winners. Those who fail to do so may soon be irrelevant.