40% of companies will create services and revenue lines to monetize internal data, according to consultancy IDC

Artificial Intelligence and Big Data, axes for the future of the company
Inteligencia Artificial y Big Data, ejes para el futuro de la empresa
New technologies have come to the door of companies, but the uncertainty or fear of a lack of control in the way of working from the traditional point of view has become one of the main obstacles in the race for the future. Experts insist that the introduction of systems based on Artificial Intelligence and the use of techniques of analysis of Big Data will be fundamental for the subsistence and the competitiveness.
The feeling of getting into the car of digital transformation out of necessity comes about “for the change we take” in all areas and sectors of society, as well as consumer demand. “Before it was the offer that gave the consumer guidelines. Now it is quite the opposite; It is the consumer who decides what he wants, when he wants it and how he wants it, “Marta Muñoz, director of analysis and operations at the IDC analyst firm, told the daily.

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And taking advantage of the data they handle internally will be critical from now on. 40% of European organizations will create new services and new revenue streams to monetize the data in 2019, reflecting that the monetization of the data is currently “a pending issue” for most companies. In particular, companies and large corporations “must adjust to this new model” productive. It is anticipated that by 2020 40% of digital transformation initiatives and 100% of the “Internet of Things” initiatives in Europe will be supported by cognitive, Artificial Intelligence and Robotic capabilities.
Change in modus operandi
To address these changes, experts insist that it will be necessary to address the implementation and introduction of new technologies in industrial processes with caution and reflection to ensure the advantages and possibilities they offer. “Increasingly, decisions about investment in technology are beginning to be led and financed by the lines of business”, he acknowledges.

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The forecasts that the analysts handle are ambitious. But it starts from a hopeful scenario. In 2016 in Spain more than 56% of digital transformation projects were co-led by the business department and computer systems. For the next two years analysts point out that investment is expanded by 78%. But, for this, the experts call for a change also in the modus operandi of the companies at internal level to value the utility of the new technologies to their business.

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From IDC estimates that in 2020, 45% of corporations will have to find new forms of business through digital initiatives because with those that exist today does not provide sufficient chances of profit. “This implies a change of the internal structures and the roles, as well as of positions that did not exist before”, predicts this expert.

Better use of internal data

In his view, the introduction of services and systems based on Big Data techniques or analysis of large data will “monetize the assets you already have” in the company. “The data is very underutilized; Less than 2% of the companies are actionable, that is, they are sufficiently identified and managed to be able to make decisions with them and then, generate income “, he acknowledges. However, it expects that figure to increase by 36% by 2020.

“It is crucial to translate the impact of technology on the business. By itself, technology is not the panacea to market challenges »Marta Muñoz, IDC
In 2016 16% of the digital transformation initiatives carried out in the company were related to Big Data. That percentage is expected to reach 36% in 2018. “What implies the use of the data is that they change the business models to which we are accustomed,” he says. In fact, over the next two years it is estimated that 40% of companies will have to draw new revenue streams to “monetize that data”.

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Another area that identifies analysts lies in Artificial Intelligence and cognitive capabilities. By 2020 it is expected that 40% of digital transformation initiatives in European companies will be supported by these emerging technologies that will be of vital importance

Artificial Intelligence and Big Data, central axes for the future of the company

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