According to a recent IDC study A.I. market revenues are expected to grow 487% within the next five years. Gartner has already identified Artificial Intelligence as a megatrend set to dominate the enterprise space, and this year alone sees companies looking to spend nearly $2.5 billion worldwide on A.I.
Quite simply, Artificial Intelligence is poised to launch ambitious organizations well ahead of their peers.
But for all this breathless excitement companies would do well to remember that A.I. still requires tremendous amounts of high-quality data.
Companies are at a crossroads with A.I., struggling between two opposing strategies: “Foundation” and “Emerging". On one hand there is the Foundation that looks to find core business solutions that must be in place to run effective operations. On the other hand is the Emerging; Sexy and high-performing, emerging technology is loaded with alluring potential. But without foundation there can be no emerging.
That’s Artificial Intelligence in a nutshell. Predictive and prescriptive machine learning offers up the promise of incredible emerging business benefits. It’s the latest shiny object that’s set to disrupt businesses in the near future. Companies are on the hunt for emerging and miss the need for foundation first. That’s reinforced by the latest statistic from Forrester Research that shows 58% of business and technology professionals are researching A.I. but only 12% are actually using A.I. systems.
Machines can’t make decisions without a robust dataset to draw from, and Artificial Intelligence is incredibly data hungry. Most organizations can only extract information from the mere sliver of their enterprise information that’s actually structured. Deloitte estimates that 80-90% of content generated globally however is unstructured. That’s a huge opportunity for us.
IDC predicts that by 2020 organizations that manage to deliver actionable information from both structured and unstructured data will achieve an extra $430 billion in productivity gains over their competitors.
By consolidating your structured and unstructured data, eliminating shared drives, and identifying all your enterprise information, Shinydocs helps set the billion-dollar foundation for your emerging productivity.
Join us for our webinar A.I. Automation to Make Documents Part of Your Big Data Strategy to learn how automate document management with A.I.