Ignore AI at your peril, warns Intel chief
November 16, 2017
Every company needs an artificial intelligence (AI) strategy or it will be left behind, according to Intel CEO Brian Krzanich (pictured), speaking at last week’s New York Times Dealbook conference.
“As the pace of the digital revolution accelerates, businesses must make fast, critical decisions based on the increasing amount, complexity and diversity of data,” he said. “To manage this deluge, companies need artificial intelligence strategies or they will be left behind.”
The amount of data available exceeds the capabilities of human analysts to process its quantity and complexity, he said. It becomes increasingly difficult to leverage effectively without the assistance of machines that not only process but also learn from those data.
“AI will enable businesses to manage complex data as well as provide unprecedented opportunities for real-time decision-making, dynamic operations management and customer response,” he said. “This isn't future-gazing. Companies around the world – from banking and health care to manufacturing and consumer services – use AI to analyse data and build learning organisations that adapt and compete at an unprecedented pace.”
For examples, the Bank of New Zealand has a new brand proposition – Bank of You – that places a stronger focus on the customer. One way it's doing this is by using AI to reinvent and create a more personalised customer experience.
Sharp Health Care is using AI to sift through years of electronic medical record data to predict which patients are at risk of sudden decline. With 80 per cent accuracy, its model can predict whether a rapid response team call would need to be made in the next hour, enabling Sharp to place medical emergency teams at key locations in the hospital to intervene before incidents become life threatening.
Fero Labs is using AI to help manufacturers boost industrial output, prevent costly machine breakdowns and reduce waste, all contributing to higher product quality and lower costs.
And Amazon Web Services provides machine-learning services to its customers to help them build intelligent applications. It enables organisations such as Zillow to provide the accurate estimates on over 110 million home values, and Netflix to make individualised predictive recommendations for its 100 million subscribers.
“These are just a few examples of the exciting innovations companies are able to implement using AI platforms,” said Krzanich.
He said there were four key guidelines companies should follow to stay on track for an AI-empowered future:
- Know what data are captured and what could be captured based on the latest connected technologies;
- Put infrastructure in place to unite those data and know how they are being analysed;
- Identify what investments are made in AI to assist in learning from the data; and
- Train and prepare executives for a world where AI is supporting and informing real-time decision-making.
Intel has a suite of AI products – hardware and software – and says it is taking the lead on AI integration into business operations by providing flexible, scalable products across business scenarios.
“The most forward-thinking companies are already gaining a competitive advantage through AI,” said Krzanich. “As we look to the future, an AI strategy will no longer be optional, it will be a condition for survival. Companies must build and execute AI strategies now to be relevant tomorrow.”