There are clear indications that organizations are using machine learning (ML) to significantly improve their performance across the breadth of their operations. The benefits they are seeing are substantial and span the entire organization.
A survey conducted by The Economist Intelligence Unit and written in discussion with SAP identifies organizations that are already benefiting from ML as Fast Learners. Five key traits emerge from the research that are important to their success.
Fast Learner organizations benefit from their senior-most management seeing the strategic value of ML.
Fewer Fast Learners suffer from a lack of strategic clarity about ML. And fewer are plagued by organizational resistance to change.
|% of Fast Learners that have realized the benefit|
|% of Fast Learners that have realized or
expect to realize the benefit by 2020
Fast Learners see ML as a way to
They are looking to bring about fundamental rather than incremental change, believing ML's potential in business model innovation to be enormous.
Fast Learners have realized that ML can increase profitability and have a positive impact on new revenue streams.
Fast Learners are already spending more today on business functions sourced locally than they are in low-cost regions – and they expect that trend to continue.
For Fast Learners, this means that business relevance and customer value will increasingly take precedence over cost in important decisions on sourcing priorities.
|Fast Learners source more processes locally|
Breakdown of spending on business processes
|% of Fast Learners|
|% of organizations not yet experiencing benefits from ML|
Fast Learners are more likely to implement ML initiatives enterprise-wide – an approach that is more likely to benefit from synergies across different functions.
Fast Learners have done more than other organizations to integrate ML use into key customer-facing and product development functions, such as contact centers, marketing, data processing and analytics, and R&D.