Tag: ai for small and medium business

The business world is increasingly in love with all things AI. Included in this is the increasing demand for predictive analytics among enterprise companies. In fact, according to research firm Markets & Markets, demand for predictive analytics is expected to grow to an impressive US$28B by the year 2026. Forecasts are often educated guesses, but if demand for data scientists (the specialists needed for most predictive analytics projects) is any indication, the estimates might just be on target. In fact, in 2021, the demand for data scientists, as measured by job openings, grew by over 250% over 2020. Yet, with all the need for machine learning and predictive analytics, the reality is that over 87% of machine learning projects still fail. The past five years have seen a flurry of activity in the world of machine learning and predictive analytics with new tools that promise to make predictive analytics simple…

With dotData Cloud, a fully managed end-to-end AI solution, SMBs have AI-powered predictive analytics with zero coding at their disposal. The latest Worldwide Artificial Intelligence Spending Guide from IDC shows that spending on AI is projected to double over the coming years to $110 billion by 2024, growing at a CAGR of 20.1%. While AI is becoming a must-have technology for large enterprises, small and medium businesses are getting left out. According to Deloitte’s State of AI survey, the top two benefits that enterprise customers are seeking from AI are making processes more efficient and enhancing existing products and services.  However, these benefits are equally applicable and important to SMBs. In fact, SMBs will benefit more from creating new products and services, an area where small companies and startups shine, making employees more productive and enhancing the product portfolio by leveraging AI. Unfortunately, few SMBs are using AI. The perception…