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Is Your Company Ready to use AI?

As the benefits of using artificial intelligence (AI) become more apparent, more and more companies are starting to adapt to it.

A recent study conducted by McKinsey demonstrated that more than half of AI-aware firms had already integrated AI into their business models, with others quickly getting on board. But, before a firm can say that it’s truly ready to integrate AI into its business it needs to first figure out the following:

What type of AI is best for the business?

Generally, AI is split into two types: predictive or structural. Sometimes you get a combination of the two. Predictive AI takes in lots of data in which to come up with a probable solution.

Structural AI works slightly different. Instead of predicting an output, it uses input data to determines a structure that would be better prepared for analysis by another AI model or humans. Structural AI is also capable of topic modeling. This is where it takes large amounts of raw data and produces topics people are talking about without the need for any human intervention.

Is the right data available to be able to train an AI model effectively?

The more data that’s made available for training, the more accurate the AI will be. Predictive AI involves using mathematical procedures to estimate a map between input and output data. So in order to effectively train the model, both inputs and outputs would need to be fed to it. While structural AI is quite flexible, the output is normally quite complicated and requires further human analysis.

What’s the company’s end goal? What are you hoping to gain from utilising AI?

There’s no point in a company simply adopting the use of AI for the sake of it. It must have a clear idea in mind as to what problems it wants to solve using AI.

For a lot of companies, the integration of AI comes in the form of chatbots that are designed to help customers with any queries they may have. One instance of AI is being used to provide guidance to customers in the way of help articles. Once a particular problem has been identified through chat, the AI can offer the customer help via the relevant article. A company goal to be centered around that could be to deflect 5% of it customer service tickets by using AI.

Source Forbes

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KC Cheung
KC Cheung has over 18 years experience in the technology industry including media, payments, and software and has a keen interest in artificial intelligence, machine learning, deep learning, neural networks and its applications in business. Over the years he has worked with some of the leading technology companies, building and growing dynamic teams in a fast moving international environment.
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