News/AI Implementation
If you want a job in AI, experts say better have domain expertise
The evolving landscape of AI careers: As artificial intelligence and data analytics skills continue to be in high demand, industry experts emphasize the critical importance of coupling these technical abilities with deep domain expertise for achieving business success. Tendü Yogurtçu, CTO at Precisely, advocates for expanded roles that combine AI and data skills with domain-specific knowledge to harness the full potential of language models and produce trusted outcomes. The insurance industry serves as an example where AI skills alone are insufficient; understanding property boundaries, risk assessment, and geographical factors is crucial for accurate pricing and risk evaluation. Similarly, in healthcare,...
read Oct 15, 2024TikTok’s Smart+ promises AI gains for marketers — but it’s still a black box
AI-driven advertising tools reshape marketing landscape: TikTok's recent launch of Smart+ highlights the growing trend of AI-powered advertising solutions that promise improved performance but raise questions about transparency and control. TikTok's Smart+ joins a roster of AI-driven advertising tools offered by major platforms, including Google's Performance Max and Meta's Advantage+, reflecting a shift towards automated campaign management. These tools promise to simplify advertising processes and deliver superior results, attracting marketers despite concerns about reduced transparency and control over ad placements. The allure of AI-powered advertising: Marketers are increasingly embracing AI tools due to their potential for delivering impressive results and...
read Oct 15, 2024How DataStax is helping enterprises get out of AI development hell
AI development acceleration: DataStax has launched the DataStax AI Platform, Built with Nvidia AI, aimed at reducing development time and accelerating AI workloads for enterprises. The new platform integrates DataStax's existing database technologies, including Astra for cloud-native deployments and Hyper-Converged Database (HCD) for self-managed installations. It also incorporates DataStax's Langflow technology, which is used to build agentic AI workflows. Nvidia's enterprise AI components, such as NeMo Retriever, NeMo Guardrails, and NIM Agent Blueprints, are included to enhance model building and deployment capabilities. DataStax claims the platform can reduce AI development time by 60% and handle AI workloads 19 times faster than...
read Oct 14, 2024AI transforms GTM strategies: how to bridge the scalability divide
AI scaling in go-to-market strategies: A comprehensive approach: Scaling artificial intelligence (AI) in go-to-market (GTM) strategies requires more than just adopting new technologies; it demands a holistic approach that addresses business objectives, workflow integration, and organizational change. The Scalability Gap: A key challenge: Many businesses struggle to scale AI effectively due to issues with system integration, data quality, and staff skills, creating a significant obstacle known as the Scalability Gap. The Scalability Gap prevents companies from fully leveraging AI's potential in their GTM strategies. Overcoming this challenge requires a systematic approach that aligns AI initiatives with business goals and addresses...
read Oct 14, 2024Productivity, security and the future of workplace dynamics
AI's expanding role in productivity and cybersecurity: The Innovation Index this week highlights significant advancements in AI technology, with a focus on productivity enhancements and cybersecurity applications. OpenAI's ChatGPT introduces Canvas, a co-editing feature that allows users to compare their original text with AI suggestions, transforming the tool into a more effective copilot for iterative writing processes. The introduction of Canvas comes at a crucial time for OpenAI, which reportedly does not expect profitability for another five years, raising questions about whether such upgrades could accelerate their financial timeline. Cybersecurity's AI revolution: A significant shift is occurring in the cybersecurity...
read Oct 13, 2024There’s a lot of AI ‘success theater’ in finance, HSBC exec warns
AI in finance: Hype vs. reality: The financial services industry is witnessing a surge in artificial intelligence adoption, but the true impact of AI implementation varies significantly among companies. HSBC's head of generative AI, Edward J Achtner, warns of "success theater" in the industry, suggesting that many firms are overstating their AI achievements. Achtner emphasizes the need for a clinical approach in choosing where and how to implement AI technologies within financial institutions. HSBC has identified over 550 AI use cases across its business lines, ranging from fraud detection to supporting knowledge workers with generative AI systems. Contrasting approaches to...
read Oct 13, 2024Which types of companies will benefit first from AI?
The rise of AI in business: Digital native companies are poised to be the first beneficiaries of artificial intelligence technologies, particularly generative AI, due to their inherent technological advantages and developer-centric culture. Despite some impatience from media and executives regarding AI's return on investment, many large firms across the US and Europe are actively exploring numerous generative AI use cases. The focus is primarily on generative AI based on large language models, which gained widespread attention following the release of ChatGPT in November 2022. Digital natives' structural advantage: Companies with digital technologies at their core and software as a key...
read Oct 12, 2024Google’s AI allows satellites to see through clouds
AI's dual role in environmental monitoring and climate impact: Google's Cloud Score+ demonstrates the potential of artificial intelligence to revolutionize environmental monitoring, while also highlighting the energy-intensive nature of AI technologies. Google researchers have developed Cloud Score+, an AI-powered system that provides clearer, more detailed satellite images of remote ecosystems often obscured by clouds. The technology uses video AI to score every pixel of satellite images, allowing researchers to select only the highest quality pixels for visualization and analysis. Cloud Score+ has been successfully applied in Ecuador's Imbabura Province, a UNESCO Global Geopark, to improve understanding of the region's assets...
read Oct 12, 2024Fine-tuning fundamentals for founders
The evolution of AI applications: Fine-tuning AI models has emerged as a powerful technique for founders and engineers looking to enhance their AI-powered features beyond the capabilities of off-the-shelf models. Fine-tuning involves updating a model's weights to steer its behavior, offering deeper control than prompt engineering alone. This process can significantly improve model performance in terms of reliability, cost-effectiveness, and latency for specific tasks. However, fine-tuning is not a one-size-fits-all solution and should be approached strategically based on a project's stage and needs. Understanding fine-tuning: The technique allows developers to customize AI models for specific use cases, potentially solving common...
read Oct 11, 2024How companies should think about AI search implementation
The rise of LLM-powered search: Large language models (LLMs) are poised to revolutionize how employees interact with institutional knowledge, offering powerful conversational interfaces that could replace traditional link-based search methods. LLM-powered search tools are expected to enable users to refine queries and deepen their understanding through follow-up questions, incorporating audio, video, and images into the search and retrieval process. These advanced capabilities have the potential to transform various business functions, allowing employees to easily query policy documents, conduct quick Q&As with sales data, and engage in meaningful conversations with institutional knowledge. Implementation strategies for effective LLM integration: To successfully implement...
read Oct 11, 2024How this law firm took a strategic approach to AI implementation
AI adoption in the legal sector: Swedish law firm Setterwalls has taken a strategic approach to incorporating artificial intelligence (AI) tools into their practice, recognizing the potential benefits and challenges of this emerging technology. Setterwalls initiated a pilot project to test three AI tools for lawyers, aiming to assess their practical applications and potential impact on legal work. The pilot revealed significant adoption rates, with 80% of the test group using generative AI more than once a week and 30% utilizing it multiple times daily. Following the successful pilot, Setterwalls expanded AI access to all 200 lawyers and provided AI...
read Oct 11, 2024The amazing ways Kraft Heinz uses AI
AI revolutionizes Kraft Heinz operations: Kraft Heinz, a leading consumer packaged goods company, is leveraging artificial intelligence to transform its supply chain and production processes, enhancing efficiency and product quality across its vast portfolio of brands. The self-driving supply chain: Kraft Heinz has implemented a cloud-based system called Kraft Heinz Lighthouse that provides end-to-end visibility of its entire supply chain, from farm to fork. This system integrates data from various digital tools throughout the supply chain, enabling real-time adaptations to disruptions and changes in demand. The self-driving supply chain allows for automatic adjustments in production schedules and raw material orders...
read Oct 11, 2024How marketers can tackle transparency challenges in AI-driven ads
The rise of AI in advertising: Artificial intelligence (AI) has become a significant force in the advertising and marketing industry, with generative AI (Gen AI) emerging as a top priority for many executives in the Asia-Pacific region. A survey reveals that Gen AI is among the top three business priorities for 83% of APAC C-suite executives, highlighting its growing importance in the industry. Consumers are becoming more discerning, with 50% reportedly able to identify AI-generated copy, indicating a need for transparency in AI-generated advertising. The transparency debate: Marketers are divided on whether the use of AI in advertising should be...
read Oct 11, 2024Why health insurers must embrace GenAI innovation now
Generative AI poised to transform health insurance industry: Health insurers are exploring generative AI's potential to revolutionize both back-office operations and complex processes that impact employee and member experiences. Current challenges and opportunities: The health insurance sector faces significant hurdles in its digital transformation journey. Black Book estimates that poorly performing, outdated IT systems cost the healthcare industry $8 billion annually. Successful implementation of generative AI-powered transformation requires substantial investments in robust, agile technical infrastructure. Health insurers must also develop internal capabilities and readiness for strategy and change management to fully harness generative AI's potential. Key applications of generative AI...
read Oct 11, 2024How regulated industries are thinking about AI implementation
The rise of generative AI in regulated sectors: Professionals in highly regulated industries are showing increasing interest in generative AI (GenAI) technology, recognizing its potential to revolutionize their work while remaining cautious about implementation. A survey by Thomson Reuters Institute revealed that nearly half of respondents in legal, tax and accounting, risk and fraud, and government sectors are "hopeful" or "excited" about implementing GenAI. Despite this optimism, widespread adoption in these sectors remains limited due to concerns about safety, security, and responsible use. The key issue holding back adoption is trust, with organizations needing assurance that GenAI can enhance their...
read Oct 10, 2024How Klarna is challenging SaaS orthodoxy by building internal AI tools
AI-driven internal systems: Klarna's bold strategy: Swedish fintech giant Klarna is challenging conventional wisdom by ditching industry-standard software like Salesforce and Workday in favor of building its own AI-powered internal systems. Klarna's success with AI customer support automation, which now handles two-thirds of customer inquiries, has encouraged the company to expand this approach to other areas of its operations. The company believes that AI-enabled software represents the future of internal tools, potentially offering a lower overall cost compared to off-the-shelf solutions. The financial calculus: Klarna's bet on in-house AI systems raises questions about the break-even point for such decisions, with...
read Oct 10, 2024Half of execs think workers aren’t prepared for AI, survey finds
AI investment surge contrasts with workforce readiness: Companies are pouring billions into AI technologies, but a significant majority of employees lack the skills to effectively integrate these tools into their daily work. Global AI spending is projected to nearly triple from $235 billion in 2023 to $630 billion by 2028, according to IDC research. Generative AI currently accounts for 17.2% of global AI spending and is expected to grow by 60% annually over the next five years. Workforce AI readiness gap: The Upwork Research Institute's study reveals a stark contrast between AI investment and employee preparedness, highlighting potential risks for...
read Oct 10, 2024When is the right time to discontinue an AI project?
AI project lifecycle management: The art of knowing when to fold: Organizations investing in AI pilots face a critical challenge in determining the optimal time to discontinue underperforming projects, balancing the potential for future benefits against the risk of wasting resources. Forrester advises against seeking immediate AI ROI, cautioning that premature termination may lead to missed opportunities. AI investments can be substantial, with retrieval-augmented generation (RAG) document search projects costing up to $1 million to deploy and $11,000 per user annually. Custom-built large language models (LLMs) for specialized industries like healthcare or finance can require investments of up to $20...
read Oct 10, 2024Massachusetts accelerates AI innovation with new business guidelines
Massachusetts as an innovation hub: The state of Massachusetts is positioning itself as a leader in fostering business innovation and responsible advancements in artificial intelligence, leveraging its unique blend of academic, governmental, and private sector resources. A recent conversation between MIT President Sally Kornbluth, Massachusetts Secretary of the Executive Office of Economic Development Yvonne Hao, and other stakeholders highlighted the ongoing efforts to drive cutting-edge research at MIT and throughout the state. The discussion focused on how innovators identify and tackle significant challenges, the process of funding and project execution, and the development of a robust regional economy. Participants emphasized...
read Oct 9, 2024High-performing businesses not only master AI but also do these things
AI adoption and human-centered innovation drive high-performing businesses: A recent Upwork survey reveals that leading organizations are leveraging artificial intelligence while focusing on workforce development and cultural transformation to outpace their competitors. Key findings on high-performing companies: The Upwork Research Institute identified a subset of businesses consistently outperforming their peers, exhibiting greater confidence in their future and higher satisfaction with financial performance. 27% of surveyed companies were classified as high performers, showing twice the confidence in their organization's future compared to others. These companies averaged a 32-point higher satisfaction rate in their financial performance. High performers reported 30% lower operating...
read Oct 9, 2024Hugging Face’s newest tool simplifies building AI-powered web apps
Hugging Face unveils Gradio 5: The AI startup has launched a major update to its open-source tool for creating machine learning applications, aiming to simplify AI development and accelerate enterprise adoption. Key features and improvements: Gradio 5 focuses on bridging the gap between machine learning expertise and web development skills, offering enhanced security and an AI-assisted app creation feature. The new version allows developers to build performant, scalable apps with best practices in security and accessibility using just a few lines of Python code. Hugging Face hired cybersecurity company Trail of Bits to conduct an independent audit of Gradio, incorporating...
read Oct 9, 2024How CIOs can manage the hidden legal risks of AI implementation
The AI regulatory landscape: A complex and evolving terrain: Enterprise CIOs face a challenging environment as they navigate the legal and ethical considerations surrounding artificial intelligence implementation. The rapid advancement of AI technology has outpaced regulatory frameworks, creating a complex landscape for businesses to navigate. While Europe has taken steps towards comprehensive AI regulation with the EU Artificial Intelligence Act, the United States lacks federal-level oversight, relying instead on a patchwork of state laws. Recent legal actions against major companies like Patagonia and Peloton highlight the growing scrutiny of AI applications, particularly in areas of consent and data sharing. Key...
read Oct 9, 2024SAP Build is being reimagined to enable faster enterprise software and AI agents
AI-powered enhancements for SAP Build platform: SAP is introducing significant artificial intelligence capabilities to its Build platform, aiming to position it as the primary extension solution for all SAP applications. The company unveiled an extensibility wizard that provides developers with direct access to SAP Build from S/4HANA Cloud Public Edition, enabling seamless extension of custom fields, business logic, and processes. This integration preserves crucial business context, allowing developers to switch between environments without losing important information. By the end of 2024, the extensibility wizard will also support the creation of custom SAP Fiori and SAPUI5 applications. Joule Studio: A dedicated...
read Oct 9, 2024The genAI opportunity: From ‘data to insight’ to ‘context to action’
The rise of generative AI in data science: Generative AI (genAI) is presenting a unique opportunity to bridge the gap between traditional data science methods and real-time business decision-making, potentially revolutionizing how organizations turn context into actionable insights. The data science dilemma: Data scientists have long faced challenges with data silos and lengthy processing times, creating a disconnect between their mission of transforming data into insights and the immediate needs of business teams. Traditional data science approaches often involve collecting, cleaning, and rigorously analyzing large datasets, which can be time-consuming and may not align with urgent business priorities. In contrast,...
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