In this special guest feature, Mateusz Czajka, Head of Technology and Product Design at Netguru, discusses how Machine Learning as a Service, or MLaaS, is completely breaking down barriers and has the potential to completely change the way we do business and make decisions –and it’s here now! Mateusz is responsible for delivering top-quality, innovative products to clients from all over the world while leading a team of 400 talented engineers, quality assurance specialists, and product designers. He transformed Netguru by building the Product Design team from scratch, introducing Machine Learning services, and leading ongoing strategic activities such as management of the tech team’s business strategy and technological roadmap maintenance. Mateusz holds a Master’s of Science in Computer Science and has always been fascinated with how technology changes the world and makes our lives better. Mateusz went through the full path from working in a project to being in senior management – leading the biggest structure across the entire company.
Artificial Intelligence (AI) and Machine Learning (ML) are currently a driving force behind tech and business innovation. Researchers are constantly improving technology while managers apply it to their own work. What if I told you that real world applications of this technology is within reach for almost every company? That you don’t need a team of in-house experts to reap the benefits of data? Machine Learning as a Service, or MLaaS, is completely breaking down barriers and has the potential to completely change the way we do business and make decisions –and it’s here now!
In general, ML can have massive benefits to companies that can use it efficiently, allowing systems to learn and improve experiences without being explicitly programmed to do so. As ML continues to advance, businesses have continued to seek out use cases with the hope that one day it will help managers make decisions on the fly with minimal data input and even accurately handle predictive decision making. ML is an industry-disrupting technology and it’s easy to see why companies want to incorporate it into their roadmaps.
MLaaS has emerged as a catalyst for widespread and rapid growth and has made its biggest impact on SMB’s, even helping level the playing field with larger competitors. Typically, SMB’s don’t have the infrastructure or capital necessary to house and manage large amounts of data. However MLaaS allows SMB’s access and the ability to store an infinite amount of data, which increases their competitiveness in the marketplace and propensity for innovation. With MLaaS, SMB’s can now use ML to identify and learn from past mistakes, and drive towards positive results in the future.
Small and medium-sized companies aren’t the only ones who’ve taken advantage of MLaaS. In fact, it’s attracted some of the biggest players in the tech space. Amazon, Google, Microsoft, and IBM have already established themselves as main players in the competitive MLaaS market, along with a variety of small-to-medium sized software development agencies. In the short time MLaaS has been around it’s already developed an established market – even so, the service is expected to continue to see massive growth. According to a recent study titled, Machine Learning as a Service in Manufacturing Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023, MLaaS is expected to see a Compound Annual Growth Rate (CAGR) of 49% through the year 2023. The report sites increased application of advanced analytics in manufacturing, a high volume of structured and unstructured data, and the integration of machine learning with big data as the main indicators for this surge in growth.
The indicators are already here: market research shows that the global ML market is expected to grow to to $8.81B by 2022, 60% of organizations are actively engaged in the adoption cycle, and worldwide revenues from AI systems are charted to surpass $46B in 2020.
Advanced ML applications are on the verge of revolutionizing the way we work. In the near future, we’ll be able to predict trends with greater accuracy, tailor customized user experiences, make complex business decisions with the backing of data-driven information, use data to create new business opportunities or move into new business segments, and so much more. With ML, businesses will be able to help their customers in new, meaningful ways – and with MLaaS the opportunity is here now.
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Credit: Google News