"I would argue that AI is overkill for the majority of use cases," Drew Perez, chief executive officer at Adatos, said during a panel discussion and added that the benefits of AI are not instantaneous in many cases. His start-up uses AI to study satellite and drone images of agricultural lands to assess things such as tree counts, soil conditions and plant health. "At the end of the day, if you think about it, it has to have a return on investment." Perez told an audience that, most AI programs today are in the "lab phase or innovation phase." He explained that even if there are the right conditions -- including having the right amount of computing power, sufficient data, the right mix of talent and a culture that readily embraces AI -- profitability is not guaranteed.
A decade ago, artificial intelligence was little more than a Hollywood idea popularised (and demonised) only in movies, but the concept of using machines to solve business problems is fast becoming a reality. As such, it came as no surprise that discussions around AI littered around most conferences today. With the dizzying hype, it's difficult to make sense of AI and truly understand the difference it can make to business. Drew Perez, managing director of Adatos, a company at the frontier of using AI for enterprise applications said during a recent conference that the fear plaguing some western tech thinkers is: "What if a machine consumed the fruit of knowledge, discerned the difference between good and evil and made decisions from it, irreversibly replacing humans?" The reality is AI, is constantly evolving, and instead of holding onto perceptions of us (humans) vs them (machines) dichotomy, adopting a view that man and machine having a symbiotic relationship can make the benefits more tangible and the consequences a little less biblical.
Richard Sheng is the co-founder of QuantumViz, a big data visualization software company that allows data scientists and analysts to find insights in massive data sets, and create amazing data stories in 3D, VR, or AR. Richard worked in data science previous to taking the Deep Learning course with NYC Data Science Academy but now works as the CEO and co-founder of QuantumViz, which was his final project of the course. Before NYCDSA, Richard spent four years at TE Connectivity in Strategy and Business Development, working on strategic data science projects that have created multi-million dollar revenue impact. Prior to TE, Richard was an Investment Banker at Nomura Securities, supporting technology, media, and financial technology institutions. Before Nomura, Richard was a Principal Consultant in the SAP Data Science team, working with clients like Disney, Altria, FedEx and many other large corporations across industries.
Of late, eCommerce has been one of the developing markets globally. As per a survey by Assocham, consumer demand is experiencing a huge market growth, and this exponential growth can largely be attributed to the massive chunks of data available with companies. Big Data such as past trends and online customer behavior is coming to the forefront like never before. Big Data in eCommerce plays a great role in enabling organizations to optimize their operational limit, improve their span and serve the clients in a better way. From separating qualified client information, surveying and isolating references, preparing data rich outcomes, to filtrating significant outcomes and utilizing it to take into account diverse business data needs – Big Data is as a rule, broadly used to creatively use and drive distinctive key capacities and offering recommendations to a business.
Robots are not going to cut hair or perform other salon services any time soon. It requires human judgement and intuition and there's a bond of trust that develops between a stylist and their customer. However, technology can still transform a salon by streamlining processes, adding automation, and generating more business. By using technology solutions including various cloud-based platforms, salon owners, managers, and stylists can all benefit by staying busier and developing long-term relationships with loyal customers. As the country starts reopening and decimated salons dive back into business, they'll also need technology to develop competitive advantages as demand for their services grows.