Manoj Saxena, Chairman, CognitiveScale | May 22, 2018
View an extract of this session held at the London Big Data and Machine Learning Revolution event in April 2018.You can also access the full video and slides.
Artificial Intelligence (AI) is rapidly moving from a mesmeric technology to a powerful teammate and a foundation for consumer and business decision making. However, AI is a young field full of amazing potential. It’s mystery and lack of understanding is also allowing for hype to grow unchecked. Unrealistic claims of an "AI singularity" and portrayals of an "AI apocalypse" are creating a hype machine that is unparalleled in recent history. The reality is somewhere in between these two extreme scenarios. With a strong focus on some of the good practices around practical and high value applications of data and AI across healthcare, insurance, financial services, and digital commerce.
AI today is both artificially inflated as well as accelerated innovations. Coming from the CEO of Google was this statement - AI over time is going to be as impactful, if not more, than fire and electricity to mankind.
I do believe that is the case, just like the industrial revolution amplified our arms and legs, I believe that AI is going to amplify our brains and there will be a time when we stop trying to drive a car or fly a an plane.
AI has now become the new frontier for digital transformation. Last year Mobile was the frontier for digital transformation. The decade before that was the internet. So when people use digital transformation, immediately I start talking about AI. CEO’s from Google and Microsoft said this is the next 20/50 year shift in terms of how we are going to make decisions and running processes.
You can use AI two ways, to automate and replace a job, or augment and amplify a job. AI is supposed to take away 8 million jobs in the next 4 years, and this will be incredibly disruptive, but there are 1.2 billion other jobs that AI will amplify and that’s what we focus on. Every big technology always dislocates jobs, but core processing will be transformed.
AI will have more impact on your market than spreadsheets did. It will completely transforms how you work. AI will do this on a much bigger scale.
AI is a combination of all six of these technologies. Cloud, big data, social, IOT, machine learning and blockchain, all of these put together is what AI is.
AI does just two things - one, it has the ability to reason over unstructured data e.g. over images, over news feeds. Second, it learns continuously from actions.
So you have business intelligence market, big data market, machine learning, cognitive computing which mimics the human brain and augmented intelligence which are intelligent business processes.
These are all technology companies engaging with people in a brilliant way and are disrupting business models.
It took the telephone 75 years to get 50 million users; it took radio 38 years to reach this; internet 4 years; and it took Angry Birds only 35 days to reach 50 million users and Pokemon Go just 14 days to reach 50 million users.
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