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Artificial Intelligence in the Business World – Where are We Now?

Digitalisation World,

Everyone’s talking about the potential for artificial intelligence in the enterprise, but what’s actually been achieved to date? Are the majority of companies comfortable with the technology and how it can be used, and are many already using it? Or, are the majority of organisations still unclear as to exactly what it is and what it offers to the business? DW asked a range of experts for their thoughts, and there was no shortage of responses, and plenty of food for thought. Part 8.

AI is not just about automation, says Justin Silver, PhD, Data Science Manager & AI Strategist at PROS:

‘In many industries, artificial intelligence (AI) is perceived as a threat to eliminate jobs. While this is true for some jobs, in many cases AI will augment human work. Businesses that lag in adoption of AI will be left in the dust by their competitors who are able to effectively leverage AI.

Businesses today understand the importance of AI in their digital transformation. Perhaps the main obstacle for prolific adoption of AI in the business world today is a lack of understanding of how it can be best used to drive direct value for the company. AI can only drive value if it is applied to a well-defined business problem. Rather than jumping to implement an AI solution, businesses need to devote adequate time and focus to clearly define the use case, determine how success will be measured, and assess the data that will be available. Depending on the objective, AI can target improved profitability, customer experience, or efficiency.

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