Some enterprises are already reaping the benefits of Machine Learning
This article is made out of excerpts from a joint Survey made by MIT & Google conducted in late 2016, and which you can download here.
Machine Learning is for many enterprises the new proving ground for Competitive Advantage. A recent survey conducted by MIT Technology Review Custom and Google Cloud reveals that while the majority of businesses are struggling to apply Machine Learning, others are hard at work developing strategies for the technology — and are already realizing genuine ROI.
The survey included 375 qualified respondents representing a variety of industries, with the preponderance coming from the technology industry (43%) but also business services (13%) and financial services (10%). Most qualified respondents were either C-level executives (39%) or enterprise developers (37%), rounded out by vice president-level executives (23%).
Almost half (48%) of respondents come from organizations with fewer than 50 staffers; 22% from companies of 50 to 1,000 employees and 32% comes from companies with more than 1,000 employees. While the survey was global, respondents came mostly from the United States and Canada (40%), Europe (13%), India (6%) and the U.K. (5%).
In terms of technology adoption, nearly half the respondents considered their company cultures to be innovation-driven, with “agile, collaborative, even ground-breaking” cultures (45%). In the vast majority of cases (95%), respondents either plan to or have implemented some online analytics processing BI program and visualization tools or traditional Big Data technologies such as Hadoop and cloud-based analytics.