Artificial Intelligence is not a new phenomenon. Hollywood has been producing movies about machines that can think for themselves for years.
Think Blade Runner, Terminator, Robocop and even Star Wars with the likes of C3PO.
Yet, 41 years on from George Lucas’ seminal sci-fi movie, it is only now that Artificial Intelligence technology is finding its way into the mainstream with the advent of the Fourth Industrial Revolution.
Many of us may already be using it unknowingly if we’re chatting with Alexa or Siri. Yes, this is AI in our everyday lives.
But 2018 is envisaged to be a breakthrough year for AI. More business are talking about AI and investing in the technology to avoid getting left behind, but it is not without its challenges.
However, unlike Hollywood’s portrayal of humanistic droids that walk and talk but lack emotions; modern day AI is about empowering business and making a significant impact.
US-based analytics software specialists SAS produced a report at the end of 2017, on the back of survey with CEOs across many sectors from the EMEA region. The report has painted the AI landscape as it is and what is needed by businesses to take it forward.
AI can take many forms – and it isn’t a gun-toting motorcycle riding trained killer. AI is about automation, big data, transformational technology. SAS delivers machine learning, natural language processing plus forecasting and optimisation technologies.
The survey discovered that AI was now being discussed more and that optimism about AI was high but the ability to implement and exploit AI was less so.
Interestingly, respondents viewed the challenges rather than the opportunities that AI presents. The issue of jobs, new skill requirements and societal impact all ranked highly on the challenges. Ethical concerns were also raised, while at the organisational level, putting trust in AI to deliver was another.
Given the limited uptake of AI, use cases are few and early adopters may have issues, but those primed and ready to delve into AI – are expected to be the biggest beneficiaries.
The three main drivers for adopting AI from the survey, which accounted for 51% of replies, were potential growth (product, market, revenue), keeping up with competition and cost savings via efficiency.
Businesses cannot afford to stay uncompetitive and rely on the current status quo. Key economic drivers will push through technology adoption, with AI, despite the perceived barriers and challenges, having a major role to play.
If you’re unclear what AI can offer and how it can be implemented, then the SAS survey is definitely worth reading.
Share this entry
7 Moorhead Lane
Tel: 0333 414 1955