#34 AI starves for fresh data
According to Investodia, Artificial Intelligence (AI) means simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. AI has a huge potential to benefit in practice, it already generates significant value in various applications and industries.
AI benefits from the significant growth of high quality data volume the speed at which data is been produced in the modern data economy
Data economy is an important driver for AI opportunities. AI benefits from the significant growth of high quality data volume the speed at which data is been produced in the modern data economy. Many companies still spent much time dreaming of AI and machine learning (ML) solving their key challenges as if by themselves, without realizing that the attention should first of all be in critial resource that fuels AI - It is fresh and high quality data.
Quality demands must be taken into account for both externally retrieved data and company´s internal data. For example, If the data used in AI training is biased and unilateral, most likely problems such as "AI bias" will arise. In the worst case scenario, AI produces more harm than good.
AI works best when it has the right amount of quality information at its disposal. The algorithm becomes strong and works well as the relevant data grows or it will fail poorly if not high quality information is entered into it. If people lose confidence in the decisions made by AI applications, investment in their development has been in vain.
When your company´s AI maturity is low or non-existent, Artificial Intelligence as a Service (AIaaS) might be the answer.
When your company´s AI maturity is low or non-existent, Artificial Intelligence as a Service (AIaaS) might be the answer. But first of all, put your input into company´s data quality work and create a trusted and accurate data pipeline, which is easy and collaborative in use. That will pave the road to extended use of AI.