Last week, I attended the AI World Conference and Expo in Boston and heard from a number of thought leaders on the following themes:
- “AI is a hype…but we expect some promising results when the dust settles”
- “You need data, no amount of algorithmic sophistication will overcome the lack of data”
- “AI needs to be supervised…humans are still necessary and don’t need to fear for their jobs”
- “Businesses struggle with implementing AI technology and are looking to AI vendors for help”
The growth of the artificial intelligence market
Artificial intelligence is a hot topic. There are more than 2,000 AI startups today with about $12 billion in funding. It’s no wonder that enterprises are trying to figure out how they can augment their business processes using these intelligent algorithms.
Still, enterprises struggle with applying artificial intelligence within their businesses. They are trying to sort through the over-promises, confusion, inflated expectations – all results of a hype that needs clarification – and are looking at AI vendors to help them solve their problems, but not all of them are capable.
As a vendor, it is our responsibility to set realistic expectations as to what AI can actually do. As someone who prefers a realistic view on technology myself, I was glad to hear that the majority of speakers at AI World were mirroring my thoughts instead of adding fuel to the “hype-fire”.
A partner in crime
The importance is to partner with an enterprise to understand what the problem is they are trying to solve. We don’t need more siloed apps; we need to create a seamless experience. Instead of jumping into the world of artificial intelligence blindly, brands should start with a simple use case and give themselves time to adjust and grow.
Data is the most important piece of the puzzle here. Nothing is more vital than validating the data that is used to power algorithms which will solve the brand’s business problem, no matter if it is used for customer engagement or to deliver meaningful insights. Here is where the humans come into play. To avoid biased data, humans take over the role of an AI adviser or AI auditor. The combination of artificial and human intelligence allows for a faster adoption that delivers better results and real ROI.
Let’s be realistic
Coming out of AI World, the number one message is that artificial intelligence is here to stay and it’s going to change our world in a big way. This matches the way we at Nuance look at artificial intelligence for prediction, conversation and analytics, which we’ve been mastering for more than 20 years to deliver a customer-centric experience while keeping costs in line.
Over the next few weeks I will elaborate more on how AI for customer engagement lets you predict, understand, deliver, learn and improve the customer experience through every interaction. Stay tuned…