Don’t believe the hype about AI in business [ Vivek Wadhwa | March 17, 2018 | via LinkedIn ]
To borrow a punch line from Duke professor Dan Ariely, artificial intelligence is like teenage sex: “Everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.” Even though AI systems can now learn a game and beat champions within hours, they are hard to apply to business applications.
M.I.T. Sloan Management Review and Boston Consulting Group surveyed 3,000 business executives and found that while 85 percent of them believed AI would provide their companies with a competitive advantage, only one in 20 had “extensively” incorporated it into their offerings or processes. The challenge is that implementing AI isn’t as easy as installing software. It requires expertise, vision, and information that isn’t easily accessible.