9A Glimpse of the Future: Data-Driven AI
“I hope you see things that startle you. I hope you see things you never felt before.”
—F. Scott Fitzgerald
Data-driven artificial intelligence (AI) and its related fields of machine learning and deep learning are topics that are top of mind for leading corporations these days. In NewVantage Partners' 2019 executive survey, 96.4% of top executives reported that AI was the number-one disruptive technology that they were investing in, up from 68.9% just two years prior.1 In addition, 80% of these executives identified AI as the most impactful disruptive technology, up from 46.6% two years earlier. By 2021, 77.8% of companies reported that AI was in widespread or limited production within their firms, up from 65.8% the previous year – a steady and progressive increase.2
Business executives want to understand whether a technology or algorithmic approach is going to improve business, provide for better customer experience, and generate operational efficiencies such as speed, cost savings, and greater precision. Authors Barry Libert and Megan Beck have astutely observed that machine learning is a Moneyball moment for companies.3
Big Data and AI projects have become indistinguishable in some respects, given that data and analytical techniques such as machine learning are now among the most popular techniques for dealing with large volumes of fast-moving data. For the average person or senior business executives and CEOs, it becomes increasingly ...
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