Industry executives and experts share their predictions for 2018. Read them in this 10th annual VMblog.com series exclusive.
Contributed by Oksana Sokolovsky, CEO, IO-Tahoe
Big Data, Artificial Intelligence and Machine Learning will continue to change our lives…
While we are some way from robots replacing humans (well not in 2018 at least!), the mass adoption of Artificial Intelligence (AI) and Machine learning (ML) is already here, and we don’t see it slowing down in 2018 either.
The global AI market is projected to grow from $233 billion in 2017, with some estimates predicting it could reach $3 trillion in 2025. As well as dominating our homes and domestic lives, almost every industry vertical is racing to develop and/or deploy AI and ML-driven technologies.
- In financial services, hundreds of thousands of funds utilize AI to support trading platforms for billions of dollars in securities each and every day. The early adopters among the banking firms have also introduced ML in areas such as fraud prevention.
- Healthcare has embraced AI to assist with medical diagnosis, surgery and drug discovery.
- Many insurance companies use the technology to support and make critical operational decisions.
- Technology companies are using AI/ML to help process billions of real-time data points every minute.
So, what’s behind this mass adoption? Big Data! The amount of data generated will only continue to grow with more devices, connected via the Internet of Things (IoT). Data growth will continue to be one (of the many) drivers behind adoption of AI in 2018.
With that we foresee business and IT executives becoming increasingly reliant on AI/ML-driven technologies, as they navigate the competitive landscape to gain advantages from improved business efficiency and performance. But first it starts with data discovery….
Before leveraging the actionable and valuable insights, employees must first discover the data. It’s simply not possible to manage data that is only partially documented, and undertaking the discovery manually is not feasible either. Automated detection and discovery of data relationships is critical to documenting, understanding and managing the data, and thus protecting it. To do this, employees will continue to utilize AI and ML, as only these innovative technology solutions will help increase productivity and save time.
We are robot-free for now, but AI/ML data discovery solutions are set to take pace in 2018!
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About the Author
Oksana Sokolovsky, CEO, Io-Tahoe
Oksana Sokolovsky is an ex Wall Street executive turned entrepreneur; an experienced CEO who has achieved early stage acquisition. Sokolovsky is passionate about developing disruptive technology. Her technology expertise combined with business acumen, allows her to bring a unique perspective to developing innovative products, commercializing them, and taking them to market. She is a technologist with experience running large IT departments within leading global Financial Services firms, establishing and transforming technology functions, and leading global high performing teams. In her 20+ years technology career, Sokolovsky has held a number of senior roles at JPMorgan Chase, Morgan Stanley, and Deutsche Bank, as well as United Health Care, Instinet, and Barnes and Nobles.com. Most recently, Sokolovsky built disruptive data discovery technology, which was acquired by Centrica’s Io-Tahoe.
