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Artificial Intelligence: How Non-Tech Firms Can Benefit

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Even though AI continues to thrive and grow, there remain challenges to use the technology. Just some include finding data scientists, determining the right problems to focus on, getting quality data and scaling the models. No doubt, these problems are even worse for non-tech companies. They generally do not have the expertise or sufficient resources to make AI a success. "Research shows non-tech companies in particular have struggled to take their AI programs beyond the proof of concept and pilot phases–with just 21% of retail, 17% of automotive, 6% of manufacturing, and 3% of energy companies successfully scaling their AI use cases," said Jerry Kurtz, who is the Executive Vice President of Insights and Data at Capgemini North America.


AI (Artificial Intelligence): How Non-Tech Firms Can Benefit

#artificialintelligence

Even though AI continues to thrive and grow, there remain challenges to use the technology. Just some include finding data scientists, determining the right problems to focus on, getting quality data and scaling the models. No doubt, these problems are even worse for non-tech companies. They generally do not have the expertise or sufficient resources to make AI a success. "Research shows non-tech companies in particular have struggled to take their AI programs beyond the proof of concept and pilot phases–with just 21% of retail, 17% of automotive, 6% of manufacturing, and 3% of energy companies successfully scaling their AI use cases," said Jerry Kurtz, who is the Executive Vice President of Insights and Data at Capgemini North America.


These Non-Tech Firms Are Making Big Bets On Artificial Intelligence

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While much has been written about information technology companies investing in artificial intelligence, Loup Ventures managing partner Doug Clinton notes that many non-tech companies are capitalizing on AI technology as well. Clinton has put together a portfolio of 17 publicly traded non-tech companies that are making investments in AI to improve their businesses. In a recent blog post, Clinton notes that he assembled the portfolio as a "fun exercise" and a way to draw attention to the sweeping nature of AI advancements. Loup Ventures is an early-stage venture capital firm. Clinton selected the companies from a range of industries including health care, retail, logistics, professional services, finance, transportation, energy, construction and food/agriculture.