DURHAM, N.C. and CAMBRIDGE, England, July 31, 2018 /PRNewswire/ -- Enterprises
anticipate that machine learning (ML) will permeate and influence
the majority of business operations. Over half (52%) of enterprises
expect this impact in the next two years, according to a new
research study unveiled today by HFS Research in partnership with
Infinia ML.
HFS' new report, "How to Avoid Your Looming Machine Learning
Crisis," finds only 29% of data science decision makers across the
Global 2000 believe machine learning is overrated. On the contrary,
the majority (86%) believe machine learning is impacting their
respective industries.
While many enterprises have started down the machine learning
path, the study finds that the speed and intensity with which
organizations are developing capabilities does not match the
importance they place upon ML. Most enterprises have yet to make
significant investments in ML (84% investing under $1M), have decentralized practices (8% have
centralized ML functions), are mostly running a few projects (65%
are running 1 to 3 ML initiatives), and believe that of those
projects, only a fraction might deliver business impact.
Further, talent is emerging as a key challenge; 42% already
recognize they have significant skill deficiencies, particularly
when shifting from traditional IT to ML and data science skills.
HFS anticipates that many enterprises have not fully discovered how
acute these skills gaps are, but will as ML needs increase over
time. The report addresses these challenges through the "HFS ML
Execution Guide," designed to help business leaders get started
with ML, deliver value over time, develop more robust capabilities,
and ultimately, build industrialized, ML-enabled operations.
"Over three quarters of respondents expressed optimism about the
business value of machine learning – but over half agreed that a
growing number of ML 'experts' are just capitalizing on industry
hype," noted Robbie Allen, CEO of
Infinia ML. "Clearly, the future belongs to those who can separate
hype from reality and take practical steps to implement machine
learning. That's what we do at Infinia ML."
The complimentary report is available at
InfiniaML.com/report.
About Infinia ML
Infinia ML is a team of advanced machine learning experts
helping enterprise clients reduce costs, increase efficiency, and
achieve breakthroughs. Infinia ML serves industries from
manufacturing and healthcare to marketing and human resources. The
company's capabilities include natural language processing,
recommendation engines, object detection, 3D image modeling, and
anomaly detection.
The company is led by CEO Robbie Allen, an experienced
AI entrepreneur, Chief Scientist Lawrence Carin, Ph.D., one of
the world's most published machine learning experts and Duke
University's Vice Provost for Research, and Executive Chairman
and Carrick Capital Partners Managing Director Mike Salvino.
Together, the Infinia ML team has produced 31 patents, 11 books, 7
Ph.D.s, and more than 575 published papers.
Learn more at InfiniaML.com
About HFS Research
HFS' mission is to provide
visionary insight into major innovations impacting business
operations, including: automation, artificial intelligence,
blockchain, digital business models, and smart analytics.
We focus on the future of operations across key industries. We
influence the strategies of enterprise customers to develop
operational backbones to stay competitive and partner with capable
services providers, technology suppliers, and third-party
advisors.
Read more.
Media Contact:
James
Kotecki
199409@email4pr.com
984-227-8480
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SOURCE Infinia ML