Friday, March 1, 2024

Machine learning and AI must be priority for digital enterprises, says Oracle

Technology is set to drive the majority of organizations in 2022 and beyond. In this space, C-level executives must take precautions and be informed with the key business priorities in navigating the digital enterprise.

Oracle 2022 Predictions

Software company Oracle Philippines sees greater demand for true transformation of businesses from their respective cloud investments. Statistics portal Statista projects a spending of up to $1.78 trillion on cloud technology and similar digital transformation initiatives by organizations worldwide for the year 2022 alone.

Oracle observes that “outsider” digital organizations which are cloud-centric, are disrupting the majority of industries compared to established entities facing difficulties in shifting to the cloud.  

With cloud technology freeing up manpower by handling the mundane work, technical teams are given more time to focus digital product and service development that is more profitable to their companies.

In addition, cloud introduces the utilization of AI and machine learning tools that bring positive change to businesses. Oracle predicts that company leaders will be closely inspecting if their current cloud investments put their businesses in a position with long-term advantages.

Oracle considers machine learning and AI algorithms as “life rafts” that rescues enterprises from drowning in data. With their data analyzed by these algorithms, their decision-making processes are expected to improve.

In taking the first step on this journey, Oracle recommends building smaller and more focused “MLOps” teams instead of having several large groups of data scientists that brings astronomical expenses to the firm.

These smaller teams will be prioritizing deployment, maintenance, and improvement of the company’s machine learning and AI models.

Oracle also predicts that in 2022, enterprises will be providing greater attention to sustainability strategies, creating a better work-life balance and workplace flexibility, and rethinking the management of supply chain.

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