We’ve reached the pinnacle of the hype cycle for artificial intelligence (AI) in the industry. AI will be the most disruptive technology in decades, but there are a lot of myths flying around from the executive suites right now. Management’s expectations are increasing as the hoopla fades.
Let’s check out a few Enterprise AI myths and their facts.
Myth #1: Enterprise AI necessitates a do-it-yourself strategy.
Reality: Enterprise AI requires both a build and a purchase. It’s easy to believe that your company’s requirements are one-of-a-kind. But consider this: how many of those requirements are shared throughout your industry? While you can start with a few DIY pilot programs, the real key to reaping the benefits of AI is to implement it across your entire organization. Innovative businesses understand that focusing their data teams’ efforts on distinctiveness while implementing ready-to-use AI solutions for more joint business problems is more successful.
Myth #2: AI will produce miraculous results…right away.
Reality: Artificial intelligence is a magic wand! To avoid offering a random set of unrelated AI solutions, you’ll also need a strategic framework and an iterative strategy. The temptation is to go for moonshots to deliver the magic, yet such projects frequently fail to live up to expectations because the less glamorous elements are still missing.
Myth #3: Enterprise AI does not necessitate the use of humans.
Reality: People and enterprise AI require each other. No, the robots aren’t planning to take over the world. When AI is used to enhance people’s abilities, it is at its most useful. It can take care of the hard work, allowing individuals to focus on more critical tasks. This has the extra benefit of motivating, productive, and loyal employees. People must also feed enterprise AI to get correct data and work with it properly.
AI frequently does not provide definitive answers to problems but rather well-informed advice that a person might examine before making a final decision. According to recent research, 64% of respondents trust a robot more than their boss. However, even in cases where we want autonomous AI decision-making, there will always be situations where a recommendation falls below an acceptable confidence level. The solution refers to the decision of a human to make a judgment.
Myth #4: The more information you have, the better.
Reality: Smart data is required for enterprise AI. This myth is widespread, and information is, without a doubt, the lifeblood of any AI solution. What matters most is that the data is of good quality, relevant, current, and enriched. Unified enterprise data models are an excellent place to start because they guarantee data integrity but not quality. And while data lakes are essential, they do not address challenges of integrity or quality on their own. In a nutshell, you’ll need smart data that’s high-quality, comprehensive, and up-to-date.
Myth #5: To thrive in enterprise AI, all you need is data and models.
Reality: Data and models are only the beginning; scalable AI solutions are required.
To date, most enterprise AI solutions have been handcrafted by data scientists, necessitating substantial manual setup and continuing human maintenance. What is the issue? These methods aren’t scalable. As a result, we’ll be able to deploy hundreds of AI models in our corporate suite to thousands of customers.
We at ONPASSIVE think that businesses must embrace artificial intelligence to thrive and possibly even survive. But it takes a level-headed attitude, not wishful thinking, to do this. We want to make artificial intelligence as accessible and consumable as possible for any business. We give you the freedom to figure out your enterprise artificial intelligence as you go with ready-to-use AI-powered cloud applications, a ready-to-build artificial intelligence platform, and our ready-to-use Autonomous Database. It also automates security patching backups and optimization so your team can focus on value-adding initiatives.
So, if you wish to include enterprise AI in your business, contact the ONPASSIVE team.