5 Ways Algorithms Will Change Your Business

5 Ways Algorithms Will Change Your Business

The world around us is changing so fast, that the big data about the campaign has also been outdated. Big data is not new, and by now we all know that more data is coming in our way faster.

We can generate large scale data after all. In itself, big data is not transformative. Big data analytics too are not making changes, after all, any company can keep analysts to provide insights into your data. Where all the real value lies is in the Algorithm. Algorithms define actions, and dynamic algorithms are at the core of future businesses. Welcome to the algorithmic business.

THE ALGORITHMIC BUSINESS

Algorithmic business is a company build around super smart algorithms. Algorithms that define company processes, which distribute customer services that take action if necessary and define how the world works. During the latest Gartner ITXpo, Gartner told us to predict the rise of algorithm business to change how we do business.

To understand all the data coming in our way, the very basic and vital requirement is an algorithm. In our future digital era, algorithms will be able to operate independently. These algorithms will be able to understand the behavior of the customer, learn from the equipment and accordingly take appropriate action. The algorithms will optimize your supply chain, they will run your cars, they will monitor your robots, and they will also determine the right marketing message.

Expect to see the large algorithm marketplace, where developers can download, purchase or license small pieces of software that provide a very specific, smart solution. Expect to see the smart algorithm that will be able to create new advanced versions of themselves as well as create completely new algorithms. And hope to see a new industry that will regulate all these algorithms to ensure that they do what they say. The algorithmic business is going to have a dramatic impact on the organizations around us and the world. 

5 Ways Algorithms will Change your Business

According to Gartner, these algorithms will change the way we work and tremendously impact on employees in a broad variety of industries and departments. During a trend prediction session in Gartner ITExpo, Gartner has predicted these following things among others:

1. By 2020, 40% of all commercial material will be authorized by machines, which means that hiring freeze on copywriters in favor of robowriting algorithms;

2. By 2020, autonomous software agents, or algorithms, will participate in 5% of all financial transactions outside of human control and thanks to, among others, blockchain. On the other hand, we will need pattern-matching algorithms to detect robot thieves.

3. By 2020, more than 5 million workers globally will be monitored by a "Roboboss". These algorithms will determine what work you have to do.

4. By 2020, 70% of the fastest growing companies will have fewer employees than smart machines. Due to the increasing presence of algorithms, the companies will become smaller.

5. By 2020, Smart Agent will provide 40% of mobile transactions, and will begin to dominate the post-app era, wherein the algorithms in cloud guide us through our daily activities without the need of the individual app.

These are the 5 ways Algorithms will change your business. For more updates on Artificial Intelligence, Machine Learning, and Data Science stay tuned with us on LunaticAI.

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