AI/ML is Essential to Driving Future Revenue and Remaining Competitive

AIThority | | Dec 13, 2022

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Three-quarters of technical leaders see AI/ML as essential to driving revenue at their organization. But while AI/ML is powering market and vertical trends, many organizations still face pain points that prevent them from scaling effectively.

  • The survey results are in: AI/ML is here to stay—but scaling is hard.
    • SambaNova surveyed 600 AI/ML, data, research, customer experience and cloud infrastructure leaders at the director level and above. The survey captured 100 responses from each of six industries, including financial services, healthcare and life sciences, retail and e-commerce.
  • High hopes for their AI/ML initiatives: 
    • Over two-thirds of organizations (70%) plan to allocate more than $100 million of IT budget toward strategic technology goals. It’s clear that organizations are looking to push their AI/ML investments further than simply automating tasks — and you should, too.
    • It’s no secret that competition will be fierce in 2023
    • The financial industry is investing particularly heavily in AI/ML, with a staggering 81% of financial services respondents planning to increase their investments in AI/ML — the highest percentage in any industry.

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  • Deep learning:  a subfield of AI/ML that uses artificial neural networks to ingest and process unstructured data like text and images, is increasingly essential in almost every industry. Three-quarters of respondents (75%) say improving access to deep learning is very important for fostering competition and innovation in their industry.
    • Despite the clear benefits of deep learning, organizations remain limited by insufficient infrastructure and a lack of clear understanding of specific use cases.
  • Barriers to scale:
    • Current GPUs and CPUs aren’t able to keep up with the runtime requirements for probabilistic computing applications.
    • Across industries, we will see an increased focus on software and hardware systems that are specifically designed for AI and can handle massive amounts of data.

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