Why Intelligent Data Capture is a Stepping Stone Towards Machine Learning
As you’ve likely noticed, an increasing number of small and medium-sized businesses are assessing how they can adopt machine learning, artificial intelligence and RPA.
The Future is Here
It’s becoming widely accepted that the various forms of AI, like machine learning, will continue to grow in importance in the coming years. A recent survey conducted by Brother UK and The Telegraph found that almost half of IT decision makers (45%) believe that AI will drive the biggest innovations of the next three years.
But many organisations are unsure how best to integrate the technology into their existing workflows. This uncertainty can lead to paralysis as managers choose to ignore implementation, believing that it’s too complicated for them to implement today. Many also believe the tech is to expensive and won't lead to returns at this relatively early stage in its development.
The spark that lights the fire
It’s important to remember that Rome wasn’t built in a day. As we discussed on the blog a couple of weeks ago, the best time to start any digital transformation is now, even if starting means starting small. This is especially true when it comes to AI and machine learning.
One necessary ingredient for any machine learning project, is clean data. But many businesses don't have the sufficient quantity of data that the algorithms require to produce a reliable prediction. If you don't have massive silos of clean data then you need to consider intelligent data capture.
Act now, or get left behind...
Last week on the blog we spoke about how extracting line level data gives companies greater insights into their bottom lines. If your business is going to leverage AI at some point in the future, then you’re not going to be able to do it without data. If you’re only capturing small amounts of basic information, you will only be able to make basic assumptions.
In short, we firmly believe that intelligent data capture is a crucial stepping stone towards the implementation of machine learning. Implementing intelligent data capture technology today will give your business a long term advantage over your competitors. And companies must act with a sense of urgency, recognising how information and data that’s flowing through systems on a daily basis is currently being lost. For example, once an invoice has been processed, without intelligent data capture, that data is lost forever.
Prepare for tomorrow
Intelligent data capture is not only a solution that can help you and your business today. Perhaps more importantly, it’s also an investment in the future of your business, creating opportunities that can be realised further down the line when machine learning and AI become truly ubiquitous and affordable.
As machine learning capabilities improve, it will no longer be a question of whether a company can afford its implementation. It will be whether a company can afford to be without it.
CloudTrade can help you and your company begin to successfully implement technology that can be the first stepping stone towards the implementation of machine learning. If you want to find out more, get in touch.