Gartner, the world’s leading research and advisory company, asserts that algorithms are becoming the defining factor for businesses. Algorithms, according to Gartner, are the core of all digital business leaders’ decision-making processes. They are the essential means of creating value and driving business performance in the digital world.

Gartner’s report highlights that companies are increasingly being identified by their algorithms, which are becoming a critical asset. They are the method by which data is turned into action, and therefore, they are vital in creating and maintaining a competitive edge.

The report also emphasises the importance of algorithmic transparency. Companies need to be open about how their algorithms work to build trust with customers and avoid regulatory scrutiny.

Finally, Gartner predicts that by 2020, the algorithmic business will create even more value. The report suggests that smart machines will double the value of digital business, and algorithmic business will likely generate billions of dollars in benefits.

Gartner advises companies to invest in algorithmic business, stating that those who do not will be left behind. It is suggested that firms should develop, purchase, or rent algorithms to ensure their survival and growth in the digital age.

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