Artificial Intelligence is revolutionizing the way we work, play, and live our lives. It’s a way to make computers learn from data sets so they can make predictions about the future based on that data. In this post, we'll explore some examples and go over what companies need to do if they want to unlock the true power of AI.
We also created a Youtube video, you can check it out below!
You may have seen the recent explosion of popularity in AI tools. A lot of the recent artificial intelligence tools have been focused towards speeding up the workflow for creators and developers. I can confirm it does help, even in the workflow of creating a blog like this or the video above. At Polyseam our development team also uses these tools and we see the value in them every day.
For example, ChatGPT helped me generate some ideas for this post. It got the ball rolling and reduced the amount of brainstorming time needed at the beginning of the creative process.
And for the nerds out here, this is a super simple developer example using Github co-pilot to generate TypeScript code from comments. All I did was type the comments below into my code editor, and it generated the TypeScript code!
Those are 2 examples of how AI can help improve the workflow of an individual, but how can it help an entire organization and at the enterprise level, what is the impact? The answer depends on what industry you're in, but here are a few examples.
There are pretty big manufacturers out there and they can use AI in a variety of ways. One of the big ones is predictive maintenance. You can predict when maintenance is needed on your machines before something breaks down, which can drastically reduce the downtime in your manufacturing process and downtime is very expensive. You can also optimize product processes, reduce waste, and minimize defects in your product, there are many use cases for AI in manufacturing.
In Finance and Insurance, AI can be used to analyze data and detect fraud, or assess the risk of a particular investment. There are many billions of rows of data in the Finance industry and all of it can be used to train AI models and generate predictions.
AI can also be used In the Healthcare industry and this one is my favorite examples. AI can be used to analyze patient data and help doctors provide a more accurate diagnosis and treatment plan. It can be used to monitor patients and identify problems as early as possible. There are also uses in the drug development process and predict how drugs will interact with a specific patient.
Everybody wants to use the new tools to save time and money, but when new innovative tech can save lives, I think that's pretty awesome, and that's just to name three! There are many other use cases for AI like predicting customer behavior or optimizing logistics which really allow AI to be used in any industry.
All of that sounds great, but in order to unlock the true power of AI and see those benefits, there are a couple things you need which commonly get overlooked.
The first is having solid data management foundations. Proper data management is essential for utilizing AI effectively. Any type of algorithm you want to implement will rely heavily on large volumes of data so it can learn patterns, and make accurate predictions. So it is crucial to have high-quality data that is well-organized, consistent, and reliable.
Without investment in producing high quality data in your organization, you will never see the benefits of AI. The concept of “garbage in => garbage out” applies here, so if you want reliable predictions, you need to provide quality data.
If you're wondering what makes up strong data management foundations you can check out our video where we talk about the 3 most important pillars.
The second most commonly overlooked roadblock to utilizing AI is the importance of having a specific question you want answered or problem that needs to be solved. For example, I knew I wanted to create this post talking about AI, and before I used any AI tools I had that specific outcome in mind. Without any direction you can still get AI to do some cool random things but in order to see the true value in your workflow or your business you need to know why you want to use it.
So to summarize: AI can be pretty awesome! If you’re a creative, developer or a company looking to be more data-driven. It will save time, money, literally lives and you know - on the flip side hopefully it won’t take over the world.
If you work at an organization trying to leverage AI, you have to make sure you start with proper data management. It's step one to leveraging these tools and really having your business thrive in this rapidly changing world we live in.
I hope you got something out of the post, if you aren’t seeing the results you would like in data management and want to know how you can get to a place where you can utilize AI, check out CNDI, or reach out to us and we will get you started in the right direction.
Have an awesome day!