AI for business growth (Part 1)
"AI is the fastest-growing industry that I have seen in the last thirty years of my career". This is one of the opening statements of Paul Daugherty, Accenture’s Chief Technology and Innovation officer.
We re-listened to this fantastic conversation with Azeem from the Exponential view and gained a lot of insights on how AI will force us to redesign the world we live in.
This is what we retained:
1. AI is just an approximation of human abilities.
While many are talking about Generic Artificial Intelligence making humans irrelevant, Paul argues that AI is a set of capabilities covering three broad categories: sensing, comprehension and learning. Seen in this way, AI extends humans and allows them to do old things in new ways.
2. AI releases us from the precise and complicated logic of Computers
How many of us are still struggling on a daily bases with complicated Excel sheets or with out-of-date software difficult to use? Not anymore.. Ai is liberating us from all this complication. By being "smarter" than traditional software, it is more flexible and more "human" in the interaction. More specififcally, it allows us to draw usable insights from squiggly, ambiguous data as images, speech and natural language.
3. AI is the new Electricity..
Embracing AI might mean re-writing the very nature of your business, Azeem argues that AI transformation will be similar to transition to electrified factories that took place around 1900.
Prior to electrification, factories were powered by big steam engines. They were releasing energy in a large lump and it was difficult to manage. As a consequence tools were big and distributed around the steam engine.
Electricity enabled to flow power into small amounts and distribute it over different parts of the factory. As a consequence, throught electricity, we were able to break down processes, modularise and speed-up production chains.
AI will have the same transformational power to unbundle complex, monolithic processes and favour automation through a variety of different "smart" tools across organizations.
Listen to the full podcast.
Deep dive with more readings :
“The Future of AI Will Be About Less Data, Not More” (HBR, Jan. 14, 2019)
“Accenture Interactive Launches Groundbreaking Artificial Intelligence Solution to Tackle Elderly Loneliness” (Accenture, April 30, 2019)
“Using AI to Make Knowledge Workers More Effective” (HBR, April 19, 2019)
“Hey Google, sorry you lost your ethics council, so we made one for you” (MIT Technology Review, April 6, 2019)
“From Principles to Action: How do we Implement Tech Ethics?” (Industry Ethicists, April 17, 2019)