Today, thriving in a competitive world means businesses adopt a data-driven strategy. Growth is a primary objective for a business. Traditionally, businesses have observed linear growth. At the end of the last decade, market leaders or disruptors are the ones that follow a data-centric strategy toward exponential growth. However, data is still an afterthought to a business strategy.
As corporate data volumes grow, it introduces data complexities and diversity that are yet to be efficiently addressed. Technologies of artificial intelligence (AI) and machine learning (ML) are helping businesses overcome technical debt. According to the International Data Corporation (IDC), global spending on AI is forecast to double over the next four years, growing from $50.1 billion in 2020 to more than $110 billion in 2024. The assumption here is that investments in new technology would lead to higher results. But are we seeing this happen?