Driving Innovation with Artificial Intelligence: The Advantages and Pitfalls of Utilizing AI as a Business Transformation Tool

As computer scientist Pedro Domingo states in his 2015 book, The Master Algorithm: How the Quest for the Ultimate Learning Machine Will Remake Our World, “AI is the goal; AI is the planet we are heading to; machine learning is the rocket that will lead us to this. And big data is fuel.”

As we continue along this journey of uncovering the true potential of AI—and more specifically how our individual brands and businesses should approach its use—it’s important to consider more than just the ways it can transform and accelerate how we do business. Pushing further to explore how it can help our organizations mature to meet evolving consumer needs and expectations, and the legwork required to ensure it’s set up to do so successfully, will be critical to getting the most out of AI.

Ensuring Ethical Automation

Artificial intelligence can assist companies in formulating theories, testing hypotheses, accelerating transformation, and creating massive leaps forward that require a minimal incubation period. Yet, in the timeless words of Peter Parker’s Uncle Ben, “With great power comes great responsibility.”

While Artificial Intelligence can be applied to almost any business process, it is imperative to take a human-centered approach to evaluating tasks based on both the capabilities and deficiencies of machine learning. This involves keeping in mind that automated solutions can also destroy an organization’s reputation if ethical and regulatory provisions are not properly incorporated and diligently applied.

Here is where we face a critical shortage: there is currently a lack of individuals within many organizations who possess the know-how, experience, and confidence needed to solve issues of intrinsic bias and fundamental flaws in current machine learning capabilities.

Leading researchers in the field of artificial intelligence from the National Research Nuclear University have warned that: “Modern AI has achieved many superhuman abilities in narrow directions, but the social compatibility of artificial agents with humans is currently at a low level.”

Given the potentially destructive nature of artificial intelligence, organizations must work in partnership with firms that have a solid grasp of the intricacies of implementing AI-driven solutions. These include training frameworks, data science, natural language processing, data visualization, algorithm development, and ethical integration and deployment.

One North partners with clients on the edge of innovation, working with new technologies like AI to improve both internal and external digital experiences. Together, we can create a future in which AI systems will have a positive transformational impact on multiple facets of our lives, while respecting the ethical and moral guidelines that our society demands.

If you have questions about how to ensure your first steps into AI prove valuable, get in touch with a One North expert by clicking the button below.

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