Six essential artificial intelligence capabilities harnessed by digital giants
Digital giants dominate the cloud and e-commerce markets, and part of the reason for their dominance is artificial intelligence and advanced analytics. The good news is that traditional businesses can learn from their experiences and use cutting edge technology.
This is the word of R. “Ray” Wang who provides a roadmap for AI success in his latest book, Everyone wants to rule the world. Wang calls the ability to move forward âAI Smart Servicesâ that help automate precision decisions. “To refine large-scale precision decisions, i.e. develop decision speed, [data-driven enterprises] must automate the process of transforming intelligence from signals into a decision or action. And the way to do that is to create automated AI-powered intelligent service processes. ”
The catch, of course, is that “intelligent AI services are not easy to master,” Wang warns. “They require more than good algorithms.” It describes six requirements for advancing in the age of AI:
Computing power. To develop intelligent AI services, data-driven companies âmust have access to or have cheap computing power,â Wang said. âThe ultimate measure of AI is pricing not in terms of computing power, but in terms of potential cost per kilowatt hour. The cheapest rate of computing power can determine the cost structure of intelligent AI services. will provide a cost advantage for every decision made. “
Time. Time waits for no one, Wang said. “The ability to squeeze time or take tasks that would normally take weeks and finish them in minutes,” provides [data-driven enterprises] an inherent advantage over their competition. “However,” AI intelligent services need more time to identify new models. That’s why the first users who train their intelligent AI services to process the huge petabytes of data that come to them have an advantage. The sooner and faster intelligent AI services learn, the more precise they are in their algorithms. ”
Mathematical talent. Algorithms are as good as the mathematical talent behind them, Wang says. âSuccess requires hiring digital artisans, those who can balance the expertise of the right brain and the left brain. Digital giants typically have armies of data scientists and a brains of confidence to refine intelligent AI services for their data-driven businesses. “
Specific vertical expertise. To make accurate decisions, intelligent AI services “must understand the nuances of the various verticals in which they operate, such as company size, industries and cultural regions.”
Natural user interfaces and user experiences. Data-driven companies must develop intelligent AI services “that engage users in a variety of human-machine interfaces that mimic human interaction in terms of sensory, visualization, voice and gestures.
capabilities. Interfaces can range from chat bots to virtual assistants, and from augmented reality to brainwave mind readers and computer vision. ”
Contextually relevant recommendations. âOnce users are confident of how the system comes up with a recommendation, these intelligent AI-based services begin to automate decisions, thereby increasing humanity, speeding up decision-making, and ultimately providing filters that provide situational awareness (the ability to perceive one’s surroundings, events in a timeline, and potential future state. “