* This post was originally featured on AIbusiness.org
Tal Bevan, Architech’s Managing Director of Cognitive Analytics, recently spoke with AI Business about the future of Artificial Intelligence (AI) in advance of speaking at the AI Summit in London, UK on May 5th, 2016. His talk will focus on how AI fuels Design Thinking by exploring how AI’s data-driven and iterative approach can be combined with Design Thinking to create the ideal solution to address end-user needs. Here are his thoughts on the future of AI:
1. How do you believe AI will impact business overall and in what ways?
In the next few years you’ll see AI have a transformative impact on business operations in ways unlike we’ve seen before. By reducing bias and taking a collaborative approach, AI will solve many problems that were previously thought to be impossible. Strategies will be driven by new insights that will allow organizations to develop products, introduce value propositions and serve customers in a more personalized and customized fashion than ever before.
2. Where are we at the moment in terms of ready-to-implement technology versus wishful thinking?
Well, AI is ready for real-time implementation today. Architech has worked on a number of use-cases where new AI driven insights are already shaping strategies and outcomes for customers in a profound manner. With the continued development of Cognitive Analytics, the results will become increasingly more pervasive and impactful.
3. What do you think are the main challenges in adopting AI technologies, from machine learning through to image recognition, in business?
Many decision makers continue to use personal experience, bias and assumptions to drive strategies. However, by definition this approach can cause organizations to move in the wrong direction. We recently worked with an organization where the data suggested a strategy that was 180 degrees opposed to current operating procedures. Once the bias was removed from the assumptions and the insights from the data were presented, a new strategy followed.
As more and more success stories are tied to AI technologies, more organizations will adopt a data based approach to solve problems, many of which were thought to be impossible before.
4. Which Industries do you believe will be the pioneers in broadly adopting AI technologies?
You’ll see AI technologies become pervasive across most industries. However, retail, telecommunications, healthcare and financial services will be the industries that will best adopt AI capabilities in the near future. Within these industries, I’d expect to see significant traction of application concentration in the primary areas of Fraud Detection, Customer Churn, Sentiment Analysis, Customer Segmentation and Recommendation Engines.
5. What is the key proposition of Architech in developing an AI-powered business?
By employing leading edge analytics and computing technologies, Architech's Cognitive Analytics practice takes an unbiased and collaborative approach to solve problems, many previously thought to be impossible.
6. What new products & solutions can we expect from Architech in the immediate future?
You can expect to see an extension of our Cognitive Analytics capabilities - stay tuned - some great announcements will follow the conference!
Tal Bevan is the Managing Director of Cognitive Analytics at Architech.