According to McKinsey, only 15% of ML projects succeed. Another study by Gartner found only 53% of AI projects ever make it from prototype to production.
Although there can be numerous factors leading to these dismal results, often the high failure rate can primarily be attributed to:
- Manual and time-consuming processes: Traditional approaches to AI/ML model development, deployment, and management often rely on manual processes. The reliance on human intervention causes.
- Lack of collaboration: Teams work in silos. They often lack visibility into what’s going on in the other departments. The utter lack of communication and collaboration between data, development and operations teams lead to increased friction, frustration, and lesser productivity.
- Difficulty in scaling ML deployments: Without MLOps, teams are likely to struggle in their efforts to to scale their ML initiatives to meet growing demand, resulting in bottlenecks and resource constraints.
- Inconsistent model performance: The lack of effective monitoring and governance mechanisms can lead to the development of ML models that provide unreliable predictions, leading to a loss of trust in the use of these programs to drive decision-making.
- Compliance and security risks: In the absence of an effective compliance and governance model, companies stand at a greater risk of facing severe compliance and security risks to their data and customer trust.
So even though tech and business leaders across businesses are betting big on the new-gen technologies such as Artificial Intelligence (AI) and Machine Learning (AI), scaling them across multiple parts of the business is still a distant dream for many.
Fortunately, most of these challenges can be conquered by equipping your teams with a fresh and innovative approach called MLOps.
Get immediate access to our comprehensive MLOps whitepaper!
MLOps: The process of applying DevOps to Machine Learning
MLOps is short for Machine Learning Operations. It’s an approach to building, deploying, and managing machine learning models using DevOps principles and practices, such as CI/CD and rapid iterations, to ensure faster development and deployment.
By embracing MLOps, businesses and teams can enhance team collaboration, communication, and productivity.
Some other notable benefits include:
- More automated and simplified work processes
- Accelerated machine learning deployments
- Robust and secure software development
Why are forward-looking organizations increasingly investing in MLOps?
Teams applying Machine Learning Operations practices and principles to their ML pipelines experience the following benefits:
- Increased efficiency: Streamlined and automated MLOps workflows drive team productivity and innovation.
- Increased scalability and model management: MLOps teams are better positioned to build and deploy thousands of models at scale while having a mechanism that allows them to gain increased visibility into how well their models are performing.
- Risk management: Practicing MLOps allows data and DevOps teams to develop and deploy highly secure and scalable models and applications and thus manage risks more effectively.
Next step:
MLOps is not just tools and technologies - it’s more of a cultural shift within an organization. Embedding MLOps practices into how you conceptualize, build, and deploy ML models can unleash greater agility, scalability, and security into your ML processes. MLOps also brings teams together and empowers them to push the boundaries.
We hope this blog helps you get familiar with MLOps! However, in this blog, we have just scratched the surface of MLOps and its significance.
If you are looking for more in-depth information and insights, we invite you to delve into our comprehensive whitepaper on MLOps.