The Artificial Intelligence (AI) craze has created great urgency in businesses and the situation is very different from previous booms in which technology has been at the forefront. The current one that started with ChatGPT has now spread to companies of all sizes. These currently try desperately to add AI to their businesses, as no one wants to be left behind of this new trend.
In the current boom the incorporation of AI usually starts at the top, were managers take an active role in pushing the new technology forward. According to The Wall Street Journal, the strong role of managers ensure that AI projects are well funded, but they also at the same time put an immense pressure on Chief Information Officer’s (CIO) to get the technology integrated into the business. (WSJ 2023.)
Many companies have announced AI related products and services in the recent months, but without numbers to back these new initiatives, it can be difficult to conceptualize what the changes will mean for the business. There is also a risk is that a company rushes out too quickly and releases something of inadequacy. This technology is after all still in its infancy.
Unless there are clear results that show that an AI based product, service or process leads to better sales – or that AI creates more growth – it might be worth to consider a wait-and-see approach. Rest assured, the new technology will be of great benefit to many, and we have only seen the tip of the iceberg, but as with many things in life, good things come to those who wait.
WSJ 2023. CIOs Feel Heat From CEOs on Generative AI. Available at: https://www.wsj.com/articles/cios-feel-heat-from-ceos-on-generative-ai-60fe0175. Referenced 6th October 2023.
Check also this recent study on the use of Artificial Intelligence to detect defects in wooden panels:
An Artificial Intelligence-Based Approach to Detect the Quality of Wooden Panels using Convolutional Neural Networks
See also what Centria has to offer in the field of Artificial Intelligence and Data Analytics:
AI and Data Analytics