Jessica Groopman: Kaleido Insights, “AI Readiness: Five Areas Businesses Must Prepare for Success in Artificial Intelligence” September, 2018.

The fundamental business question of “what do we do with all of this data?” is colliding with our endless fascination for technological biomimicry. Artificial Intelligence (AI) is an unavoidable concept in the digital age, if not for its pervasive application, then by virtue of the fact that it provides a technological solution to information overload and the quest for context. Recent research finds some 80 percent of businesses plan to invest in AI in the next three years.1Even if the techniques and concepts underlying AI are more than 50 years old, the recent renaissance in commercial environments is a result of a rather sudden convergence of three key trends: colossal data generation; better algorithms; and faster processing hardware. AI is already yielding business impacts across functions, including product development, process and workflow optimization, recommendation and personalization at scale, risk mitigation, and cybersecurity, among scores of others. Enterprise interest in AI has been compounded by its promises for efficiency in the form of speed, accuracy, agility, and access to insights embedded in “dark data”—a reference to the estimated 80% of unused enterprise data.

 

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