AI is automation on steroids. There are many things that people are doing today that will be automated in the future using AI. One of the ways we talk about AI is as AI automating jobs. And engineers and technology, actually don’t think about it that way, even though automation of jobs is a crucial topic for society to figure out. But how does AI help businesses? AI actually automates tasks and jobs and we handle many different tasks. For example, a radiologist does many different tasks. They read X-rays, they see patients sometimes, they consult other doctors, they invest in their own ongoing education. And just one of those tasks, reading X-rays, may be amenable to AI automation in the next several years. And so a lot of organizations are thinking through the tasks that the organization does and figuring out what pieces should be automated by AI, because you can now do this very efficiently, very cheaply and their redesigning the workflow around the subset of tasks that can now be automated.
So when a task that is important to your business can be automated, the secret is ton of value. And for many companies, there is a race to do this before competitors do so because sometimes the early incumbent that gets it done, will start to see more data. The data makes your AI better, helps you grow market share and gives you even more data. And so there are these forces in AI that fortunately, or unfortunately, cause industries to trend to winner-take-all. And so this places a lot of urgency in almost every industry on executives to get it right quickly. To learn more, watch our video to answer the question: how do machine learning and artificial intelligence technologies help businesses?