Currently there is a lot of hype around AI and with significant ongoing investment from venture capitalists, major technology companies, and companies across industries over the past decade, it’s clear that AI is an essential technology of the future. While the complexity underpinning AI may seem intimidating, a high-level understanding of AI capabilities is all you need to drive substantial value.

We hear the hype and chatter on social media, but how much should we allow this chatter to influence data strategy and decision making. There is a lot happening in the financial services industry especially regarding data and analytics, but we know from experience that previous technology waves have come and gone, with many not living up to the hype. How do we intelligently filter through the noise to identify the correct strategy for our business?

It is useful to be aware when things are actually changing in the market place. Is the industry allocating resources and investing financially and otherwise? An astute observer may find that companies actually making investment decisions that support newer technologies can provide useful insights. Indeed, Capital Ventures see AI activities as a global phenomenon, and this is evident in the data they produce. But however well-informed markets may be, the best sign post to technology adoption and growth lies with the large tech giants.

The common Data Model

Apple was the early starter, but Microsoft, AWS and others have rapidly caught up with a speed that has surprised many. Microsoft in particular have invested heavily and produced amazing performance breakthroughs. Machine Learning is having a dramatic impact on business to improve decision making. The long-term impact of AI will be significant even as the shorter-term challenges are being mitigated.

AI today has been commoditised to the point that you no longer need a team of Data Scientists to build models. A high-level understanding of AI capabilities is all you need to drive substantial value. Neo-Analytics can help your business to streamline an AI strategy. Our consultants can help you to build your own high-level understanding and drive business value from AI.

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