With the Coronavirus taking over the world, one thing that has gone silent is the various experiments performed in the field of AI and how it is a potential threat to humans posed by AI. It is amusing to see that one of the most sought-after technology isn’t playing the major role some may have hoped for.
“This (pandemic) is showing what bulls--t most AI hype is. It’s great and it will be useful one day but it’s not surprising in a pandemic that we fall back on tried and tested techniques,” said Neil Lawrence, the former director of machine learning at Amazon Cambridge.1
Around the world, AI which was one of the most coveted and talked about technologies is recently, increasingly being questioned about its usefulness and ability to drive business outcomes.
When it comes to making the business run better, AI has shown more promises than performance. According to International Data Corporation’s survey, global organizations that are already using AI solutions found only 25 percent have developed an enterprise-wide AI strategy. Most organizations reported failures among their AI projects, with a quarter of them reporting up to a 50 percent failure rate.2
Why? Too many times, AI fails to deliver the positive impact that businesses really want from the technology, like more revenue, lower cost, fewer customers lost to churn, higher manufacturing quality, and lower waste and fraud.
Rather, the outcomes that we are receiving is inaccuracies.
Inaccuracies, a lot of inaccuracies
This story is from the July 2020 edition of People Matters.
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This story is from the July 2020 edition of People Matters.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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