With the rapid advancement of artificial intelligence (AI) and machine learning (ML), companies need to understand and evaluate their readiness to adopt these technologies and drive material business outcomes.

To assess a company’s machine learning readiness, we must consider several key factors, including:

● Vision/strategy
● Data availability
● Expertise, infrastructure and resources
● MLOps and governance

In this article, I will review these three key factors in assessing ML readiness and how they can help your organization prepare.

1. Vision/Strategy

A company’s vision for its AI/ML strategy is essential to consider when assessing its machine learning readiness. This includes ensuring that the expected AI transformation aligns with the company’s strategic goals and that it will ultimately be meaningful for the business. To evaluate this, organizations should consider their overall strategy for AI adoption and determine how it fits into their broader business objectives. Additionally, companies should identify specific use cases and applications of AI that support their goals and how those can be implemented to drive business outcomes. A company that has already woven an AI/ML strategy into its business planning is in a far better position to assess its ML readiness.

2. Data Availability

I believe data availability is another crucial factor in assessing ML readiness. Machine learning algorithms require vast amounts of data for training and validation to offer real value. It would be challenging for a company to successfully implement machine learning without access to sufficient data, or they’d risk a model that cannot be trained effectively and that would, in turn, perform poorly. Companies must consider the quality and quantity of data at their disposal, as well as any potential future data sources when assessing their readiness for this important element of machine learning. I also think organizations should consider the feasibility of collecting and integrating data from various sources, whether internal or external, to have the most impactful machine learning initiative.

3. Expertise, Infrastructure and Resources

It’s no secret machine learning requires a diverse set of skills, including data science, programming and statistics, and every organization must be sure they have all the necessary talent and resources when building that function. These resources include data preprocessing, model development, model validation, deployment, monitoring, maintenance and the ability to train and onboard new employees to oversee AI/ML programs. Companies should also enable collaboration across these different units and roles. If a company chooses to outsource machine learning projects to third parties, the skills needed internally may need to shift toward project management and collaboration with external teams, as well as a nuanced and sophisticated understanding of the business problem, industry and technical capabilities of the vendors, to ensure proper execution.

A company’s systems and technology stack are key to any operation. This includes selecting the right technologies and tools to enable the end-to-end creation and use of AI/ML-powered analytical applications. Before adopting ML, companies should evaluate their current stack to determine if it’s equipped to handle AI, including the availability of hardware, software and programming languages. Organizations should also consider the costs associated with selecting and implementing the right technology stack for AI/ML, including the costs of any necessary upgrades or new investments. Decision makers should also research and evaluate different technology vendors, their products and services, and find the one that best suits their needs in regards to cost, value and alignment with long-term goals.

4. MLOps and Governance

To be machine learning-ready, I find it important for companies to have machine learning ops (MLOps) in place. MLOps is a set of practices that allows companies to manage the end-to-end machine learning life cycle. It covers the entire machine learning process, from data preparation to model deployment and monitoring. Implementing MLOps includes continuous integration and delivery, model versioning and management and monitoring and alerting. Additionally, MLOps practices such as automated testing, model evaluation and deployment can help organizations improve the overall efficiency and effectiveness of their machine-learning efforts over time.

A company’s governance structure for AI/ML adoption is another factor to consider when assessing machine learning readiness. Companies should evaluate their existing governance structures and determine if they are equipped to handle the implementation of AI, including data governance, compliance and risk management. We must also consider how we will manage the deployment and scaling of AI, including the development of policies and procedures to govern the use of AI and the identification of internal stakeholders and decision-makers who will be responsible for its implementation.

Ultimately, I believe the key to machine learning readiness is to assess current capabilities, identify areas for improvement and develop strategies to address them. By taking the time to assess their machine learning readiness, companies can ensure they are in the best position to take full advantage of the benefits that machine learning can provide.