The Business Will Be Re-imagined With The Help Of AI

There’s no doubt that Artificial Intelligence (AI) will be a strategic advantage and a competitive advantage in the future. Stats show that. In a presentation at the DATAVERSITY® Enterprise Data World Conference, AI startup advisor Steve Ardire said that AI is expect to boost global GDP by $15.7 trillion by 2030. This is because AI can help businesses become more efficient and competitive. It will become a $36.8 billion business by 2025, up from $643 million in 2016. A lot more money has been spent on AI over the last six years. It went from $300 million to $5 billion. (data science in Malaysia)

AI is a top priority for business leaders who think it will improve productivity. Gartner says that more than 30% of CIOs will make it one of their top five investment priorities in the next year or so. The AI market is growing, and countries want to be a part of it. By 2030, China wants to be the world’s leader in AI. In terms of what could happen, “the AI haves vs. the AI have nots” is how Ardire put it, noting that China’s VC investment in AI is on par with the US’s.

A look at how things change. (data science in Malaysia)

Businesses see AI as a way to improve both the top and bottom lines of their businesses. Different machine learning algorithms are use for different things. Natural language for customer service, anomaly detection for managing enterprise risk, and compliance and predictive analytics for managing financial resources, for example, are just a few of them.

That’s not the only thing about machine learning today. It only learns what is written or said. It doesn’t think about implications, assumptions, or context, Ardire said. AI research and development funds are aime at taking AI to the next level, from giving some information about who, what, when, where, and how to giving more information about why.

It’s at this point that humans work with machines that have common sense, he said. Augmented Intelligence leads to a point where AI will be able to understand the thoughts and emotions that make people do what they do. Artificial Intelligence (AI) technologies that can understand this can make things better. For example, chatbots can become more interesting to customers if they can understand how people feel.

Things in the business will also be change by AI. Machines will become the best friends. Ardire said that a survey by CIO Insight found that nearly 90% of managers said they would trust the advice of intelligent systems when making business decisions in the future. People aren’t out of the picture, but they will have to get used to treating intelligent machines as “colleagues,” so they can work with them.

This means that humans will have to do a lot more than just run things. They’ll have to think creatively and come up with new ideas. “Making sense of things, being creative, and being critical will be important,” he said.

People have to deal with some problems and have some hopes.

It might be a while before their teams have the same level of trust in intelligent systems as the business owners do. There are some people in some businesses who don’t believe that AI is safe. Mico Yuk, the CEO and co-founder of BI Brainz, a business intelligence consulting firm that focuses on enterprise visual solutions, big data visualisations, reporting, and SAP BI, made a point about this.

She has talked about Salesforce Einstein with executives from big companies who use it. Even though it has been prove to work, it’s still hard for sales teams to use the AI technology that should make it easier for them to predict customer opportunities and exceed customer needs. As long as we have BI and machine learning that can predict and predict what will happen, humans have to come up with and build ways to get it used.

For now, AI and machine learning can help businesses do things automatically. For example, they can help businesses make smarter key performance indicators (KPIs) by filling in the storey of what a measurement goal is, in order to grow profits, for example. From there, you can ask how much you want to grow, like 25% in this case, and when you want to do it. “To get smart measurements, you have to take each part and fill it in,” she said.

Yuk also thinks that artificial intelligence and human intelligence can work together, and that it has to do with making sure that the right KPIs are being use to measure things. She says that most businesses should cut down the many KPI measurements they have to three or five that can be use. Actionable KPIs mean that the right things are measure and can be show in AI-driven dashboards. This means that the right things can be seen.

It takes a lot of work from management to get people at all levels of an organisation to trust human intelligence when it comes to what actions they can do. This way, AI can automate those actions and make actionable dashboards. She said, “Human intelligence has to be the main thing that drives the project.” “We haven’t yet reached robo land.”

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