A Growth Innovation Leadership: North America Chronicles Preview
Growth Opportunities Generated by Digital Transformation
Mike Jude, Ph.D.,Research Manager: Consumer Communications Services, Connected Home, Big Data Analytics, Stratecast, Frost & Sullivan
The hyper-competitive markets that characterize the world’s economy demand a virtually instantaneous response by business. This is hard to do when data is gated by conventional information technology. In order to accelerate decision making, advanced analytics utilizing artificial intelligence are necessary to identify alternatives and develop innovative new products and services. Companies who aren’t thinking of the advantages that AI can confer are already behind the power curve.
Artificial intelligence is not the end game; it is an enabler. Using AI powered,advanced analytics, companies can identify patterns and opportunities in their big data lakes that drive new innovations and which accelerate decision making. This session drew on Frost & Sullivan research and the latest thinking in the AI field to identify opportunities to apply this cutting edge technology to accelerate innovation and strategic decision making.
- Blueprint for identifying AI opportunities. Not everything can benefit from AI. It is important to know what constitutes a good target for AI technology
- Pitfalls to leveraging AI capabilities. Most AI applications are heavy on the artificial and light on the intelligence: Learn how to tell the difference between legitimate AI and applications which only say they are
- Case studies in AI: Critical success factors and lessons learned
Frost & Sullivan research results show that respondents believe AI will define the next wave of IT automation:
- 83% of decision makers say AI will define the next wave of IT automation
- 56% of CEO’s say intelligent data analytics will be a key driver in business growth
- 45% of CEOs say competitive use of intelligent data analytics is a top competitive threat
- 22% of CEOs say they plan to leverage AI
- 82% of IT decision makers say AI is an important decision-factor in their choice of a cloud solution partner
We are entering the true information age. The limit used to be people. The people who analyzed the data did not handle/analyze it quickly enough.
Information is data in context. The next IT paradigm is computer generated context: a true information infrastructure.
AI Domains and Applications
- Call Center (virtual CSR)
- Email filtering
- Process control
- Air traffic control
- Autonomous vehicles
- Cyber security
- Fraud Detection
- Decision Support
- Language translation
- Question answering
- Spam filtering
- IA processing
- Facial Recognition
- Voice recognition
- Voice search
- Predictive analysis
- Machine vision
Artificial Intelligence components:
- Think like humans
- Think rationally
- Act like humans
- Act rationally
AI can be separated into three functional categories:
- Artificial narrow intelligence (ANI) – ANI machines exhibit intelligence in limited and well-defined domains. ANI machines cannot transfer their intelligence capabilities from one domain to another.
- Artificial General Intelligence (AGI) – AGI machines display intelligence on par with humans across a variety of general fields. AGI machines can transfer their intelligence capabilities from one domain to another. This is what worries Elon Musk.
- Artificial Super Intelligence (ASI) – ASI machines have intelligence beyond humans across all domains, including creativity and social skills. AGI Machines can transfer their intelligence capabilities from one domain to another.
As cost of labor increased, automation makes more sense. AI adoption is certain and it will begin with high end (expensive) application and ultimately work its way down to intelligent devices (IOT).
Where AI can do it faster than a human, it will be deployed.
AI is an enabling technology for:
- Business intelligence
- Predictive analytics
- Financial analysis
- Weather forecasting
Just because something claims to be AI, doesn’t necessarily mean that it is.Where AI can do it faster than a human, it will be deployed. AI Global market will be up to $40 Billion by 2025.
Blueprint for AI Opportunities:
- Opportunities can be identified through an identification of costs and benefits
- Costs are generally easy to quantify; benefits, not so much
- Define expectations upfront
- Institute metrics before implementation
- Never flash cut, rather implement slowly
Many companies are scrambling to weaponize AI. Executives believe AI will define the next wave of IT automation.