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Artificial intelligence and machine learning clearly extend the tremendous value gained from data collected and analyzed through the Internet of Things. However, let’s get realistic. AI and machine learning is a later stage development for a vast majority of businesses. The IoT hype is highly driven by dreamers — the innovators who paint incredibly bright futures. However, in today’s environment, most companies are challenged with managing disparate data systems while others haven’t effectively captured and stored historical data. Both of these challenges can impede advancements in the IoT adoption let alone later stage opportunities offered through AI and machine learning.
Beyond critical data challenges, Joshua Bloom, vice president of data and analytics at GE Digital, also referenced a few other challenges specifically associated with AI and industrial machine learning. These included:
The latter of these two challenges is inherently human. I have had a history of experiences in market research where business professionals, mostly in sales, don’t trust what the data is saying. But in these circumstances, since we performed the data analysis, it was easier to justify. In an AI and machine learning situation, especially involving massive data sets, will it be as easy to justify the model?
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