Article Synopsis :
Whether you like it or not, artificial intelligence (AI) is going to be a part of everyone’s lives. Every aspect of daily life will be controlled in some way by AI.
Businesses struggle to make use of the data it has access to
The benefit of that is it will accelerate decision making, improve business processes, enhance user engagement, reduce costs and drive remarkable growth and profitability, says this Cognizant report.
Data, data, data
But it all hinges on data, which is essential for AI. We have more data than ever, but many businesses struggle to make use of it.
Those who do have an immediate and powerful competitive advantage and this report showcases 21 examples of businesses that are on their journey of deploying AI.
The case studies cover very different sectors, but prove the use case and show real life examples of how AI can – and is – being used to digitally transform business.
Deeper and down
Perhaps most encouraging are the possibilities offered by deep learning that can now be deployed in commercial environments, including automated trading, web site optimization, automated industrial design and even agriculture.
Evolutionary AI promises a new era of advanced, robust solutions designed by AI – by computers.
These ‘AI-based decision augmentation systems’ as one of the report’s authors refers to them will reach new areas that have not been considered before.
He suggests that because we have no concept of how deep these technologies could touch our lives and businesses, this could prove to be a new watershed in the delivery of digitalisation.
Watch this space. A machine is going to make it very, very interesting.
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Digital Insurer's Comments
Digitalisation is an unstoppable force, but there are plenty who have yet to get with the programme and fully engage.Those who are more advanced in their thinking are waiting with bated breath for the new opportunities that will be thrown up by deep learning, the next logical step for analytics: not just really big data, but new understanding.
The case studies here may seem somewhat prosaic on some levels, but these businesses are further along a journey that will deliver far greater understanding and functional, strategic data they will be able to not only exploit, but leverage to separate themselves from their peers.
Deep learning may yet give us a whole new understanding of just what competitive advantage can look like.
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