The goodness of Artificial intelligence

Everyone talks about Artificial Intelligence. But no one really knows how to make significant money by adopting it. This article summarizes my experience

What I call stupid?

The common thinking is to replace humans in service centers with chatbots or similar. Say we use chatbots with Artificial Intelligence to replace humans

First chatbots will never completely replace humans. Second, the money saved in salaries will be offset partially or totally  by losses from disappointed frustrated customers running away

Monetization = (Savings from laying off people) - ($ to recover running away customers) = (much smaller monetization than we think).

So when Microsoft bought Maluuba "a Canadian startup focused on giving the software a better understanding of human language, the little bird on my shoulder said "So What?"  This natural language processing (NLP)  technology is a key underpinning of artificial intelligence but how we make money with it?

AI fosters human interaction

Regardless of application, the real power of AI lies in its “contextual awareness,” namely its ability to sense and respond to current context. 

 AI technologies, such as Node,  can pinpoint the most lucrative entry points into potential customers and can even recommend conversation openers. Their slogan is

Node knows your next markets of opportunity

Node understands the vision for the business you want to become and delivers a roadmap to get you 

This is quite claim and it is of course, false and misleading

While many believe that AI has the potential to render human intelligence obsolete, this is not true.  By liberating sales and marketing teams from tedious work, AI allows them to focus on what really matters - developing strong relations with customers. Applying AI to sales and marketing processes fosters more human interaction, not less.

The benefits of AI

 Some focus on potential lost jobs or apocalyptic scenarios. Others say that  jobs it will create, , more than offset any downsides. This will not happen automatically, yet corporations and governments are doing little to make it reality

Four years degrees

 Daugherty and Wilson foresee a significant challenge retraining workers for those new jobs. They say

... a majority of new jobs will not be strictly technical in nature but rather will focus on ensuring smart and responsible use of AI–the training, explaining and sustaining of the algorithms. Such jobs will require basic understanding of the new technology but also human judgment and empathy to both guide it and explain it to those it affects.

And this moment is a particularly teachable one. In the age of AI, virtually every big company will find itself where Facebook is this month: being held responsible for how it does just that.