KNOWLEDGESTREAM AT-A-GLANCE
The Future Applications of AI for Large Enterprises
ABSTRACT
Enterprise Value of Artificial Intelligence
PARTICIPANTS
OBJECTIVES
1. Using Digital Transformation to Disrupt Industry & Competitors: Specific ways firms are using digital Technologies to disrupt their industries & improve their bottom lines
2. Carefully balancing continuous improvement with skunk works: How do you balance resources to focus on continuous improvement & skunk works to identify disruption simultaneously
3. Harnessing Digital Technologies: How to identify which digital technologies (5G, IoT, Cloud, etc.) in a way that optimizes benefit while minimizing needed investment
4. How Ai can improve a firms Digital Capabilieis: Review AI, Machine Language, RPA, & Automation and determine how to create use cases with positive ROI to introduce these technologies
End Date: Jan 27, 2020
CONTRIBUTIONS
ACTIVITY
86 Days
5 Themes
54 Contributors
926 Posts
451 Comments
128 Followers
OUTPUTS
5 Slide Deck
5 Blog Post
1 Video
12 Social Post
CALLS ATTENDED
• 2019-10-18 - Prep Call
• 2019-10-22 - Prelaunch call
• 2019-11-01 - Launch Call
• 2019-11-18 - Check-in call
• 2019-12-02 - Check-in call
THEME #1
How can AI and Digital Transformation help drive Corporate Growth
THEME SUMMARY
AI & Digital Technologies are providing new functionality to existing and new products and services which are increasing firms ROI
- AI & Digital Technologies are also delivering significant new benefits of reducing costs & overhead while helping firms grow revenue while stemming linear growth of expenses to support costs
- This new enhanced functionality from AI & Digital Technologies is also increasing customer satisfaction from the enhanced functionality.
How has AI & Digital Technologies enriched your products & services
Combine engineering excellence with AI software and you get a revolutionary way of keeping heavy equipment working more efficiently for longer, thus improving ROCE.
Using data sensors, collecting data - based on behavioural act by staff/ clients/customers - across industries - from Banking & Aerospace Defense. Deep Learning decisions / recommendations are made at a high AI level - becoming Government Policy in decisions made & law - cutting out human error.
We are using machine learning (ML) as a key component of our wearable device software. Without ML we would not be able to do what we are currently doing! In my opinion this is an area that cannot be ignored by any business looking to thrive in future:
How has your use of AI & Digital Technologies increased your client satisfaction
RPA sw rev grew 63.1% in 2018 to $846 M, making it the fastest-growing segment in ent sw. RPA is especially efficient for automating routine functions. Forms intensive business, like insurance & banking. They streamline business processes & reduce production time by automating repetitive functions.
Robotic process and cognitive automation consistently help to achieve cost efficiencies while also increasing customer satisfaction. With AI, Robotics and Cognitive Assistants we have achieved quick wins in cost and quality while developing our digital platform.
The biggest benefit has been in separating out the noise from the signal and concentrating on the Signal in terms of customer feedback. On identifying this feedback we have been able to build more personalized interactions with our customers.
What AI Tools are you using and what benefits are you receiving from them?
Responsible algorithms and cobots (collaborative robots) are programmed to be "emphatic". This does not mean that they include feelings, but they they have a (at least) basic understanding of human behavior. Due to this they can ensure human safety.
In terms of efficiency, having a robust AI-based support platform can allow simpler (and over time, more complex) tasks to be handled by the AI, freeing up live sales and support people to focus on higher-value customer needs which can increase loyalty and propensity to buy/switch
One of the great benefits of going digital is the ability to track metrics and analyze the data that is gained during digital marketing efforts. More to the point, using these insights allows businesses to optimize their strategies and processes for even better results.
How has your use of AI & Digital Technologies internally increased your Operations efficiency and reduced linear growth needed to support revenue growth
AI is the backbone of the entire value add for Intro-act & its competitive edge over the others in the space. AI is better for our clients & it drives all decisions we make about expanding the product for the future with more data and better algorithms using AI (machine learning) for better results.
I find challenges among my knowledge workers that are not comfortable trusting the veracity of computer determined analysis or data. We have hope for the future but are still working through the culture change.
My research is focused on analyzing data from 6000 patients using AIC-Hb as a marker for diabetes. The focus is to find best treatment option, from clusters of patient data that responded well to treatment & see if aggressive treatment could result in better outcomes. Seeking AI for cleaning data.
THEME #2
Which digital technologies (AI, IoT, Cloud, 5G, etc.) are having largest benefit to ROI & why?
THEME SUMMARY
AI is driving digital disruption and improvements in efficiency internally while fueling new products and services that are improving customer satisfaction while increasing ROI
- However, in some industries like the Energy Sector laws and processes that control the industry are actually hindering some of the progress that can be made.
- Firms must look at the way business is done and develop high potential candidates for AI so that they have solid benefits from their initial AI implementations.
- Big Data and proper mining, deduping, cleansing and strategically knowing what data to store and controlling the costs is critical to delivering the benefits to the firms bottom line
- AI is starting to mash up with other digital technologies like Cloud, 5G, etc. as we had seen previously with components of Service Oriented Architecture (SOA)
Future Digital Technologies
Corporations need to collect, clean, and correlate data so they can gain more insights to how their business is running and make changes to become more efficient. Because the volumes are so great, the only way to make such changes is by developing AI and machine learning models.
we are nearing an inflexion point as emerging technologies especially in big data analytics, machine learning, AI, etc. are converging, making possible the idea of actionable insights in support of better strategic decision making and possibly increasing our lifetime here on earth
A series of 9 interconnected shifts occurring in the digital world will have significant impact on the future of companies. IT depts over the past few decades have been continually upgraded as they try to adapt to rapid changes. However, there is a need beyond just the IT department to adapt.
Digital Technologies Top ROI
The only way companies can successfully manage the process and reach their strategic goals is by measuring their digital ROI every step of the way
Organic search is the digital marketing channel that brings in the highest ROI at 49%, paid search efforts yield the biggest returns to their website at 19%. Social media is next at 18%, 14% responded that email is what produces the highest ROI for their website.
Wärtsilä Expert Insight is an innovative breakthrough that leverages artificial intelligence (AI) and advanced diagnostics to monitor equipment and systems in real-time
Digital Technology Use Cases
Predictive maintenance gives freedom from preventive maintenance which makes equipment shutdown periodic reducing asset utilization & increasing maintenance cost. Predictive maintenance work is carried out just before it is needed improving utilization of the equipment & lowering maintenance cost.
IoT requires fast internet connections as 5G. Also the IoT will evolve one day to the IoE, the Internet of Everything, where human connect with machines, such as the mentioned sensors.
Cyber-Physical authentication and anti -counterfeit systems that are able to verify and track goods (becomes relevant in connection with IoT)
Top Internal Digital Uses
We have taken advantage of AI for both external and internal use cases. In terms of internal operations, we have developed internally some simple algorithms used to improve the efficiency of some of our support services.
Blockchain is bringing some great advances to Energy sector. The buying and selling of electricity from your own systems. Battery management, building a pool of saved electricity and supporting community energy models. Stopping the delivery of electricity
IoT changes that equation. It enables manufacturers to place sensors in new locations, They can gather information, such as processing load, heat, and response time that illustrate how well each element is performing. Suppliers can then move from reactive to proactive maintenance.
THEME #3
Let’s discuss some of the top AI Challenges and what you & your firms may be doing to overcome these AI challenges.
THEME SUMMARY
AI has tremendous potential in positive impact and benefits it can yield to businesses and society but its capabilities must be carefully thought through and implications and safeguards carefully understood and implemented
- Board Members and Management of firms must visibly and actively lead and support the implementation of AI programs at their firms
- There are many implications among them individual rights and privacy, potential biases entering into AI solutions must be understood and appropriate actions taken proactively address them.
- Finally the computing demands to support AI implementations are growing at such a rapid rate there needs to be proper management to ensure ROI is achieved from the investment
AI Impact on Firm
It’s not just a case of finding the right candidate that artificial intelligence can help with, but also finding the best fit, which AI can do by rapidly assessing a candidate’s online presence, matching it to the company ethos.
the whole point of AI which is to take care of the smaller tasks then place professionals who are well educated such as doctors, scientists, researchers, lawyers, and the list goes on to target more complex issues this comes to the company hierarchy and targeting certain objectives.
Good examples, and an illustration whey the RPA market is booming. Worldwide RPA software revenue grew by 63.1% and reached $846 million in 2018, making it the fastest-growing segment in the enterprise software market, according to Gartner Inc.
Management/BoD Support
Executive management is key to making an AI, digital transformation project successful. Without their true buy in, even if they sign off on the PO to purchase the tech the project is doomed from the beginning
Executive management is key to making an AI, digital transformation project successful. Without their true buy in, even if they sign off on the PO to purchase the tech the project is doomed from the beginning
in a world where most value comes from software and new technologies, even for CPG companies, you either have a digital transformation vision, are aware you need one and open to driving it or, you’ve got a problem
Various Issues
The EU Commission published 4/19 “Ethics guidelines for trustworthy AI" with guidelines on ethics in AI. Trustworthy AI should be: “(i) lawful - respecting all applicable laws and regulations; (ii) ethical - respecting ethical principles values; (iii) robust - from a technical perspective
Microsoft, "data privacy is a human right", so per default the consumer should remain anonymous. Of course we are not living in a perfect world. One of the problems, data privacy depends on the individual's budget.
Artificial intelligence (AI) has a great deal of potential but also harbors many risks. To ensure this new key technology can deliver its positive potential for us humans, it requires an ethical framework.
AI Computing Needs
In 2018, OpenAI found that the amount of computational power used to train the largest AI models had doubled every 3. 4 months since 2012, which made Moore’s Law to reach to its saturation. AI Apps. are becoming more computing resource hungry. This has been addressed through Super Computers.
All Artificial Intelligence (AI) - NLP , Video and Image Analytics, Biometrics, Facial Recognition, Gesture Recognition, Neural Networks, Minibots, Machine Learning, Deep Learning, RPA, Expert Systems, etc- necessitate data, and especially consistant data, data of quality and meta data.
It is hoped that governments around the globe will agree to a modernized and unified global approach to regulating issues of data privacy and security to enable businesses and organizations to make the most of the emerging opportunities of a Digital Single Market regime.
THEME #4
AI Growth is generating computing resource demands that is outpacing Moore's Law
THEME SUMMARY
Many Digital Technologies are contributing to the realization of AI, but at the same time the computing requirements to support AI growth are increasing faster than Moore's Law
- AI's growth and increasing supporting computing demands are quickly surpassing the startups capability to be significant players in the emerging AI solutions being developed.
- Quantum Computing will bring further computing capabilities to bear but it still unknown will these be offered through Cloud Service Providers & will the new computing be widely available & affordable
New Techs to Support AI
AI shall be adopted in large enterprises with help of solution or services providers, that also includes start ups solution / services providers. Here are few AI startups who are helping large Pharma companies in adopting AI in critical business functions.
It is good question about quantum computing, edge computing and high performance computing. But without 5G as a baseline technology to enable build up of additional layers and applications, and IoT to harvest data, further layers of analytics will not be possible.
While major corporations are moving more quickly to AI than startups - there are still several major players who are in a hold out for AI. Whether large organizations or small startup companies, if they make the choice to "wait and see" if AI is going to live up to its hype
AI growing Computing Needs
Products that learn from user data to be even better products are infinitely better products than “dumb” counterparts. Use of AI to deliver a product’s core value proposition isn’t a nice-to-have; it’s crucial to remaining competitive. From this perspective, investing in AI is absolutely justified.
B2C companies are investing in AI/ ML to improve the accuracy of their services (e.g., search, language translation, content filtering, voice recognition, video advertising). Competition will drive huge advantages, specifically in NLP & computer vision because of the potential value for advertisers.
One important point is that without seed money, the costs of AI and 5G utilization will significantly reduce the potential for start-ups to compete against the larger "owners" of the majority of today's data.
AI's Digital Disruption Impact
Even when we talk in terms of non-AI / typical products and business services offered by various types of Enterprises, there are some of the market segments which are just not attractive for Big Enterprises to be there, and those markets are going to be just attractive for Startups.
we may have new services, as a kind of Uber-AI, where you may rent AI just for the time you need it. On the other hand, 3D-printing may support smaller companies, as the importance of economy of scope goes down. Due to this, craftsmen could compete against bigger companies.
AI will lead to demands and costs related to it to swing the pendulum back in favor of large established firms which will make it harder for startups to compete. Because once AI is being utilized heavily larger companies will have more time to target more complex issues
Quantum Computing
My experience with 5G, Edge and Quantum computing is that it still isn't driving substantial savings in legacy corporate America. They are, with what I'm seeing, tools that companies are looking and planning for. But, generally speaking, are not easily viable in the short term at scale.
Quantum computing has tremendous potential. The idea of increasing the base computer processing from two digits (on or off) to 10 or more has the potential to disrupt the industry. What smart people can do with that much extra processing power is overwhelming to contemplate.
agree that compute power would go hand in hand in providing faster 5G connections throughout the planned land based and satellite 5G ecosystem.
THEME #5
Let's reflect on the vision of our digital future and compare this to our current reality
THEME SUMMARY
Emerging Digital Technologies, especially 5G, are going to have a profound impact at raising up the speed at which AI develops and proliferates.
- The mainstreaming of the tools and the evolution of Digital Ecosystems are further enabling clients to have lower costs and time to market and more predictability of success for their AI projects
- AI is driven by algorithms that are developed by having the right data to develop and evolve the algorithms. IoT, Digital Twins, are contributing to the volume & quality of data available
Emerging Digital Functionality
While the perfect digital reality system doesn’t exist yet for these various uses cases—waiting for perfection would be a mistake. The technology is coming up faster than many realize, giving those who get an early start a huge advantage
5G one can collaborate between various devices AI Apps. running over it directly. In mobility, collaborations are happening through some centralized servers, but with evolution of 5G, traffic going to centralized servers for P2P communication, gets reduced would happen directly with mobile devices.
Major roadblock for the current state of economy to shift into a complete digital future is the sustainable ecosystem. Ecosystem which not only built on digital capabilities like 5G but also human capabilities. Human capabilities include right skillets pertaining to targeted industry segment.
Visible Digital Benefits
Artificial Intelligence is all about predictions. This requires numerous sensors connected via Internet to an algorithm. . Due to this, fast connections are imperative. The information fuels Digital Twins. With more information, these models can evolve into Cognitive Digital Twins:
IoT & AI impact processes heavily Increased Prediction Power- Connected touchpoints and analytics features enable better prediction of behavior. Service Impovements - AI enables services with 24/7 availability. AI is able to proactively support customers with better well-timed information.
In the connected world we live in, 5G feels much more incremental than AI and Cognitive, which truly create step function increases in capability when brought to life properly.
Digital State Enablers
Mainstreaming of tools for digital ennoblement, build out of digital ecosystems & infrastructure, change and adaptation by large suppliers to enable capabilities, on-going skills development by digital ecosystem, developing the trade associations and governance to deal with new digital challenges
Wireless providers are looking at 5G to compete with existing cable providers in and out of houses. Realize that an antenna would be needed on houses or right on the pole outside the house. Neighborhoods will underground utilities will need a similar solution.
Towers are leasing to big companies which are quickly adapting to the everchanging market because its not very complex for 5G installation its a small cell technology where a box is placed on the antenna or even street lamps which will allow a quick innovation technology to spread throughout USA