The Machine Learning Race Is Really a Data Race
In order to build to most effective Machine Learning model you need the best data, thus companies are competiting for the latter.
That data and machine learning go hand in hand is not new, but companies often forget that they have to create accurate data points in order to have an effective machine learning model. The article notes that some companies are racing to apply machine learning to important business decisions, only to realise that the data they need doesn’t even exist yet.
Other companies fail to differentiate themselves as they are addressing a business case with exactly the same data as their competitors. The article concludes with 3 recommendations:
- Differentiated data is key to a successful AI play
- Meaningful data is better than comprehensive data
- What you know should be the starting point