Don’t want to embrace AI?
Updated: Sep 11, 2019
What’s the worst that can happen? You’ve been receiving almost daily AI-related emails to your inbox (some of them from us). No matter what corner of the internet you explore, you see news and articles on AI popping up. You’ve heard the phrase 4th industrial revolution thrown around more times than you can count and you see most big corporates around you aggressively embracing AI.
But you’re planning a different approach - a more conservative, “wait until the tech has matured” approach, at which point you can quickly adopt AI into your business and get some great results. This might not seem like a terrible strategy on the surface, but in a rapidly evolving, data-led world it may not serve you and your business well. Let’s explore some key considerations in this strategy.
AI solutions need customisation and take time to develop. Generic, out-the-box solutions are likely to add little value to your business. Time is required to incorporate domain knowledge and build AI solutions that work for, and add value to, your business. Besides incorporating domain specific knowledge, you’ll also need to build the right training datasets, and that takes time. After your build phase you’ll want phases of testing and refinement, and after this, a piloting phase. Once piloting is complete you’ll want to move things into production. Add this up and ‘quick’ adoption is really not an option.
The methods and tools used are older, and more mature, than you might think. While newer machine learning methods certainly require further development, traditional machine learning methods are extremely well established. Boosting for example was conceptualised in the 80’s and developed in the 90’s. Sticking to this maturity argument is sure to leave your organisation in the slow lane.
As discussed above, building AI solutions is no quick process. Late adoption of AI can mean that your competitors could have leapt years ahead, while you waited or hesitated. And catching up could be extremely tough. Once undertaken, AI solutions can be highly successful and scalable and competitors may have captured significant market share by the time your organisation embarks on its AI journey.
If you want to successfully adopt and incorporate AI into your organisation, and you think there may be a threat of competitors in your space, we recommend starting the journey as soon as possible. From team composition, structure within your organisation, through to solutions and applications, there is much learning to be done!
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