Source – https://builtin.com/
As AI becomes more commonplace in business, organizations that wait for the technology to be perfected risk missing out on its benefits.
Ilike imperfect things. I like my sweater with its holes at the elbows, that painting of mine that my cat walked over while it was drying, that source code I’m using for my doctorate that never seems to execute as I’d expected it to. I like it that way, though. Imperfection makes things more interesting.
When you’re talking about business, however, there’s money to be made — potentially lots of money. And unlike other parts of life, in the business world, a small imperfection might result in millions of dollars in losses.
That’s scary. What’s even scarier is when these losses happen because engineers make mistakes while trying to implement a new and rapidly evolving technology whose risks nobody fully understands yet and the regulations of which are just getting written. If business leaders are hesitant about this potential minefield, it just proves that they’re human.
I’m talking about AI. However scary it may be, though, many people, including many business leaders, remain incredibly enthusiastic about AI. The potential upsides are huge because AI can finish processes that used to take hours in seconds. That time savings is an improvement of several orders of magnitude. Given such returns, it’s no wonder that companies are pouring billions of dollars into AI every year.
Despite this massive investment, AI uptake is still fitful. The difficulty comes not only from uncertainty regarding the risks and regulations but also the fact that many businesses fail, at least initially, to make a realistic assessment of the types of changes that AI can and can’t bring.