Machine learning has moved beyond the hype to
become a meaningful driver of value for many
organizations. Over half of businesses that have
deployed machine learning-powered artificial
intelligence (AI) initiatives say the technology has
increased productivity.
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While it's clear that machine learning is an
essential part of business transformation, many
organizations struggle to understand where to
apply machine learning for the most impact.
Selecting the right machine learning use case
requires you to consider a number of factors.
First, you need to find a balance between
optimal business value and speed. A proof of
concept built by a siloed data scientist is not
likely to generate much enthusiasm for machine
learning in an organization. What is more apt to
attract the needed commitment and funding is
showing how machine learning can address the
practical issues your organization currently faces.
Furthermore, you'll want to find something that
can be accomplished in 6–10 months so that you
don't lose momentum. This is especially true if
this is your first foray into machine learning.
Solve your most common business challenges
with machine learning
Second, you'll want to find a use case that is rich
in data that you already have. A good business
use case with no data leads to frustrated
data scientists.
Lastly, you'll want to evaluate whether your
business problem actually requires machine
learning for success and whether machine
learning will result in better outcomes than your
traditional approach. These outcomes might be
realized as cost reduction, increased employee
productivity, or improved experiences for your
end customers.
The best way to satisfy all of these criteria is to
ensure that technical experts and domain experts
are working hand in hand on your machine
learning project. Technical experts can conduct
feasibility assessments, and domain experts will
ensure the solution is solving a real business
problem and will have a real impact.
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https://www.pwc.com/us/en/services/consulting/library/artificial-intelligence-predictions.html
INTRODUCTION
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