Whether it is cognitive computing, machine learning, intelligent automation, augmented reality, or artificial intelligence, smart technologies are gaining ground with use cases spanning health services, analytics, customer service, manufacturing, logistics, and a range of other fields.
The opportunities and dilemmas presented by smart technologies for business were considered in various talks at DBTA’s Data Summit 2018.
While there is a lot of fear that surrounds AI, there is also much that can be gained by humans working together with machines, according to Joe Caserta, founder and president of Caserta.
AI poses many challenges, including moral and ethical issues. While it has been suggested that AI must be made to be understandable to humans in order to make it “explainable” so they can rationalize it, it is possible that this requirement could actually result in less favorable outcomes, pointed out David Weinberger, senior researcher, Harvard's Berkman Center for Internet & Society, who spoke at Data Summit 2018 in Boston. Limits on the use of AI might result in a smaller reduction of traffic deaths using self-driving cars, or fewer successes in identifying patients who may be at risk for certain illnesses. As a result, limiting AI to what humans can understand and confirm and, thus limiting its potential, will perhaps present its own moral dilemma, Weinberger explained.
The combination of smart technologies, including cognitive computing, machine learning, and artificial intelligence, with their shades of difference, is poised to take on a leading role in the enterprise. According to a 2018 McKinsey Global Institute report, said Hadley Reynolds, co-founder of the Cognitive Computing Consortium, the current projected global impact of adopting what it calls AI is $3.5 to $5.8 trillion annually globally. McKinsey has identified 400 use cases for AI across 19 industries.
The top 10 industries on the list are:
- Transport and logistics
- Retail,
- Automotive and assembly
- High tech
- Oil and gas
- Chemicals
- Media and entertainment
- Basic materials
- Agriculture
- Consumer packaged goods
Calling AI “the next Cultural Revolution” that will fuel a change in society, benefiting such industries as healthcare, education, the legal system, and more, Caserta noted, that the use of data to make machines smarter is the basis of everything going forward.
Best Cognitive Solution
IBM Watson Data Platform
Finalists
Amazon AI Services
Sinequa Cognitive Search and Analytics Platform