SAP Survey Sees ML Algorithms Driving Productivity and Revenue
SAP and the Economist Intelligence Unit shared a survey involving 360 senior executives of different companies, deduced machine learning algorithms impact has moved beyond theory in business workflows.
Almost half of the companies being part of the survey said that machine learning has raised money gains and they are expecting revenue growth of 6% over the period of next 2 years.
SAP senior vice president of analytics, Mike Flannagan has endorsed the fact published in the survey study that companies are investing in machine learning and artificial intelligence applications because of the revenue primarily and not solely because of cost-cutting.
To achieve competitive advantage, data-driven companies are the early adopters of machine learning algorithms, said Flannagan.
Another important aspect being pinpointed by Flannagan is, companies who focus on delivering optimum customer experience tend to dominate the industries.
Organizations with their main emphasis on cost-cutting through machine learning applications may not be the industry leaders versus the ones focused on providing best customer experience.
'It’s about driving higher customer satisfaction’, Flannagan