Artificial Intelligence (AI)
Data services are just like coats - not all are created equal. There's a varying range of price, quality and reliability. And, if your data doesn’t have a good coat, there could be a range of bad or costly decisions made. These decisions could affect the business performance, financial situation, risk jobs, or even the fate of the company.
Historically, for organizations looking to improve their top or bottom line and gain competitive advantage, leveraging technology has always been considered. As we enter the next industrial revolution, Artificial Intelligence (AI) in our future is no exception. The interest and benefits of AI increase significantly across all industries and functions. The rewards continue to be meaningful for any organization looking to gain productivity and competitive advantage using AI.
There is no shortage of analysis and predictions today regarding COVID-19 and our future. While experts of all walks of life weigh in via global news channels, healthcare organizations are still left addressing the here and now as well as surges that could happen tomorrow, next week or in a few months. For those supporting the front lines securing necessary supplies and resources, it is paramount to be able to deliver what is urgently needed.
I've been working in the financial services space for close to thirty years now. I've seen many trends and technologies emerge. Some take hold, and several are just a flash in the pan. Regardless of how long a concept sticks around, one thing remains: Terminology plays a material role in shaping perceptions. In a world where messaging tends to over complicate things, too many acronyms and too many buzzwords all work against what should be the primary objective: clearly illustrating value.
Since the onset of COVID-19, artificial intelligence, data science and machine learning have gone from time-saving to life-saving technologies. The fact is, they have rapidly emerged as powerful weapons in the fight against the pandemic.
From accelerating testing capabilities to enforcing social distancing measures, these bots – formerly unsung heroes of AI – have suddenly taken on a significant role in altering the way we face pandemics.
Here are some of the ways bots continue to play an essential role in the fight against COVID-19:
Today, about 80% of large organizations are using artificial intelligence in their core business – compared to about 10% just five years ago. Companies that focus on AI are harnessing opportunities from vast data availability, machine learning and complementary technologies such as cloud, Internet of Things (IoT) and 3-D printing. And they are doing so with a focus on short-term benefits as well as long-term growth. According to Harvard Business Review, if you miss out, the opportunity cost could be as much as 41% of revenue by 2023.
There were two stories in recent news that grabbed my attention. All across the country, food banks are overwhelmed with demand. Families in desperate need waited for hours for a week’s worth of supplies over Easter weekend, with lines of cars stretching for miles. The demand outstretched many facilities’ ability to fulfill, with some leaving empty-handed, or with less than they need.