Council Post: Advancing AI With Data And Machine Learning: What Else Is Needed?

The U.S. and almost all countries today identify AI as a critical strategic area in the future of computing. Companies are more invested than ever in discovering how AI can provide advantages in their competitive markets. According to a report released earlier this year by Appen Limited, AI budgets increased 55% year over year, ranging from $500,000 to $5 million, with more attention placed on internal processes, a better understanding of data and efficiency gains. Fueling this interest are super-accelerated digital transformations driven by a "digital or die" theme mitigating the limitations imposed by the Covid-19 pandemic. With digitization, the volume, variety and velocity of data have increased exponentially for many years. Capturing, managing and exploiting the data proved challenging.