Challenges of Artificial Intelligence and Machine Learning

Challenges of Artificial Intelligence and Machine Learning

Without a doubt, we could include them among the 10 future technologies that will change the world by the year 2050. Interestingly, we have not done so because we believe that they represent two advances in technology that are already having an effect on our lives. We talk, of course, about the Artificial intelligence and the Machine learning. Precisely, in this article the idea is to stop at the main challenges posed by the incorporation of these concepts.

In general terms, we can say that these are quite interesting times. Virtually all companies driven by next-generation technologies are, at a minimum, analyzing the benefits of Artificial Intelligence and Machine Learning. To this, added, in addition, that the integration of both in a business environment could provide numerous opportunities for transformation thinking of taking advantage of value chains.

So why are companies finding it extremely difficult to market their AI and ML solutions? Recent reports from Deloitte indicate that 94% of companies face various problems when adopting any of these technologies. And there seem the challenges that we mentioned at the beginning.

Artificial Intelligence Machine Learning 4Artificial Intelligence Machine Learning 4

Challenges when integrating Artificial Intelligence and Machine Learning

If AI is a Ferrari, data is its fuel

Machine Learning, a subset of Artificial Intelligence, requires not only data but actually labeled data. In other words, data that provides a response to a variety of inputs, also known as parameters. But how many companies have that information available?

On the other hand, having huge amounts of data does not guarantee the desired result or insights. So we find, these days, a good number of firms that do not have access to data and many others that, having access, do not know how to exploit it. For different reasons.

A versatile solution, which is not yet

Although Artificial Intelligence and machine learning have evolved extraordinarily, a solution that can be applied to the medical industry is hardly viable in the automotive industry. This means that developments begin to diversify and, with this, a single versatile solution is no longer required, but rather specific modifications to it. As a result, there are cost delays.

The only alternative seems to be widespread Artificial Intelligence, which is just taking its first steps.

Artificial Intelligence Machine Learning 3Artificial Intelligence Machine Learning 3

An investment that costs a lot … and does not return too much

The potential of Artificial Intelligence and Machine Learning is indisputable. We all agree. But just because its potential is undeniable does not necessarily mean that its current results cannot be questioned. As we said before, many companies are still not able to capitalize on their bets on these technologies. And to be successful, an investment awaits them that they do not want – or cannot – afford.

In this way and in the short term, there is no discernible trade-off between the budget allocated and the precision of the results obtained. The higher the budget, the more types of data could be aggregated using high-end technologies and sensors that provide real-time data. But that requires that we have money to hire experts, software, and an environment that makes it possible.

Lack of trust

Even when its promoters do their best to deny it, many entrepreneurs still believe that Artificial Intelligence and Machine Learning are technologies for the rich. It is a fame that they have earned, and still show.

Therefore, a good number of medium or small companies that could open the doors to AI and ML, do not do so because they have ruled it before giving it a chance. Their approaches to data may have been flawed, at a time when these metrics weren’t so oiled up, and they won’t come back to them unless they are sure they will get back what they invested, that it is worth it. And that can take years.

Artificial Intelligence Machine Learning 2Artificial Intelligence Machine Learning 2

And there are also the legal obstacles

As if all the above were not enough, legal obstacles also appear on the scene. The inclusion of data of poor quality or questionable provenance could quickly lead to legal problems for any company.

The little pressure that companies themselves put to modify these laws, and the certain suspicion that still exists towards technologies that are just beginning their way, is another of the great challenges that await us.

Conclusions

Marketing and implementing Artificial Intelligence and Machine Learning in companies is not easy. It won’t be for a few years. But that does not mean that we should not be watching their progress. There are tech giants like IBM, Google, Apple, Microsoft who are quite optimistic and are sure to have them.

Surely when each of them has been able to prove for themselves the worth of these technologies, and the market has matured enough, many other smaller companies will be willing to take the leap.

If you liked this article, you will want to know how Artificial Intelligence will affect marketing.

Share it with your friends!

Published at Thu, 14 Jan 2021 23:48:45 +0000

Challenges of Artificial Intelligence and Machine Learning

Without a doubt, we could include them among the 10 future technologies that will change the world by the year 2050. Interestingly, we have not done so because we believe that they represent two advances in technology that are already having an effect on our lives. We talk, of course, about the Artificial intelligence and the Machine learning. Precisely, in this article the idea is to stop at the main challenges posed by the incorporation of these concepts.

In general terms, we can say that these are quite interesting times. Virtually all companies driven by next-generation technologies are, at a minimum, analyzing the benefits of Artificial Intelligence and Machine Learning. To this, added, in addition, that the integration of both in a business environment could provide numerous opportunities for transformation thinking of taking advantage of value chains.

So why are companies finding it extremely difficult to market their AI and ML solutions? Recent reports from Deloitte indicate that 94% of companies face various problems when adopting any of these technologies. And there seem the challenges that we mentioned at the beginning.

Artificial Intelligence Machine Learning 4Artificial Intelligence Machine Learning 4

Challenges when integrating Artificial Intelligence and Machine Learning

If AI is a Ferrari, data is its fuel

Machine Learning, a subset of Artificial Intelligence, requires not only data but actually labeled data. In other words, data that provides a response to a variety of inputs, also known as parameters. But how many companies have that information available?

On the other hand, having huge amounts of data does not guarantee the desired result or insights. So we find, these days, a good number of firms that do not have access to data and many others that, having access, do not know how to exploit it. For different reasons.

A versatile solution, which is not yet

Although Artificial Intelligence and machine learning have evolved extraordinarily, a solution that can be applied to the medical industry is hardly viable in the automotive industry. This means that developments begin to diversify and, with this, a single versatile solution is no longer required, but rather specific modifications to it. As a result, there are cost delays.

The only alternative seems to be widespread Artificial Intelligence, which is just taking its first steps.

Artificial Intelligence Machine Learning 3Artificial Intelligence Machine Learning 3

An investment that costs a lot … and does not return too much

The potential of Artificial Intelligence and Machine Learning is indisputable. We all agree. But just because its potential is undeniable does not necessarily mean that its current results cannot be questioned. As we said before, many companies are still not able to capitalize on their bets on these technologies. And to be successful, an investment awaits them that they do not want – or cannot – afford.

In this way and in the short term, there is no discernible trade-off between the budget allocated and the precision of the results obtained. The higher the budget, the more types of data could be aggregated using high-end technologies and sensors that provide real-time data. But that requires that we have money to hire experts, software, and an environment that makes it possible.

Lack of trust

Even when its promoters do their best to deny it, many entrepreneurs still believe that Artificial Intelligence and Machine Learning are technologies for the rich. It is a fame that they have earned, and still show.

Therefore, a good number of medium or small companies that could open the doors to AI and ML, do not do so because they have ruled it before giving it a chance. Their approaches to data may have been flawed, at a time when these metrics weren’t so oiled up, and they won’t come back to them unless they are sure they will get back what they invested, that it is worth it. And that can take years.

Artificial Intelligence Machine Learning 2Artificial Intelligence Machine Learning 2

And there are also the legal obstacles

As if all the above were not enough, legal obstacles also appear on the scene. The inclusion of data of poor quality or questionable provenance could quickly lead to legal problems for any company.

The little pressure that companies themselves put to modify these laws, and the certain suspicion that still exists towards technologies that are just beginning their way, is another of the great challenges that await us.

Conclusions

Marketing and implementing Artificial Intelligence and Machine Learning in companies is not easy. It won’t be for a few years. But that does not mean that we should not be watching their progress. There are tech giants like IBM, Google, Apple, Microsoft who are quite optimistic and are sure to have them.

Surely when each of them has been able to prove for themselves the worth of these technologies, and the market has matured enough, many other smaller companies will be willing to take the leap.

If you liked this article, you will want to know how Artificial Intelligence will affect marketing.

Share it with your friends!

Published at Thu, 14 Jan 2021 23:48:45 +0000