Welcome back to your weekly dose of AI for Business news. Every Thursday, we share our weekly selection of interesting AI for Business reads. If you missed some of our earlier must-read lists, head over to our Articles section to catch up!
This week, you will learn about: the growth AI can bring globally, Amazon’s approach to AI, a guide on how to choose your first AI project, the lack of diversity within the AI field and use cases about the many uses of AI within PepsiCo and AI combating food waste.
FIGURE OF THE WEEK
AI will create $ 13 trillion of GDP growth by 2030, according to a study from McKinsey. Most of which will be in non-internet sectors including manufacturing, agriculture, logistics, etc. Hence AI brings a huge opportunity for executives to differentiate, but is important to know how to cope with internal change.
HOW TO USE AI GUIDELINES
- Amazon’s empire rests on its low-key approach to AI for The Economist
Majority of the tech titans display their AI capabilities at every opportunity - Facebook’s facial-recognition software, Apple’s Siri or Google's self-driving cars- Amazon streamlines its own operations using a lower key approach to machine learning. This article proves that Machine Learning applications do not have to be revolutionary such as self driving cars to make a company millions. Amazon’s entire warehouse is designed in such a way that the robotics and humans work perfectly together without waiting times. Because traffic jams in a robot field can be hellish. Amazon’s dominance in its core business of online shopping and cloud computing is only growing and this thanks to their ability of exploiting the true potential of machine learning on their operations.
- How to Choose your first AI project by Andrew Ng for HBR
This article, written by Andrew Ng who is a strong AI guru and a believer of AI’s potential to fundamentally change every business, learns executives how to choose their first AI project. The most important lessons he shares it to begin small and understand how AI can work for your business. These pilots should not be about creating value, but about convincing stakeholders of the added value of AI. When considering a pilot from AI you should ask yourself 5 questions, we want to highlight 2:
- Is your project specific to your industry ?
- Are you accelerating your pilot project with credible partners?
These two questions are very important because you should take a pilot project that uses the strengths of your company in combination with some specific third party skills. The most important for the stakeholders is to see how AI can give the business a competitive advantage that is worth pursuing.
- 'Disastrous' lack of diversity in AI industry perpetuates bias, study finds by Kari Paul for The Guardian
A New York University research center says there is a “diversity disaster” within the AI industry. The field is dominated by white men which causes certain models to be flawed that make decisions based on gender and racial biases. This is a fundamental problem that needs to be tackled, because if we look at the diversity within AI classes at university, 80% of AI professors are men and men currently make up 71% of the applicant pool for AI jobs in the US. By tackling this applicant pool the field could be more diverse, which would also benefit the AI industry because women or other racial groups look have different cultures and perspectives on things. In the US, senators have proposed legislation for algorithms that make companies more than $50 million per year or hold information on at least 1 million users should be evaluated for biases. We at Kantify understand this problem and that is why our CEO, Segolene Martin, is an ambassador for Women In AI in Belgium, in order to inspire women to become active in this very interesting field.
AI IN PRACTICE
- The Fascinating Ways PepsiCo Uses Artificial Intelligence And Machine Learning To Deliver Success by Bernard Marr for Forbes
After reading this article, you will see that a lot of aspiring AI players have something to learn from PepsiCo. They understand that machine learning has become a business need and no longer only a competitive advantage. The article highlights the different applications of AI PepsiCo found and uses today. Firstly, the Snack Delivery Robot which help students who are in strapped-for-time to order a snack via the app that will be delivered by this robot to a certain location. Second, a laser that hits chips to determine the texture based on the sound it makes. The data is used to perform an automated quality check. Other Machine Learning applications they found are to predict the weight of potatoes being processed or optimising the potato peeling system to avoid waste. But PepsiCo also invested in AI to cope with HR processes more efficiently, by scanning CV and having a first HR interview of which it will hold transcripts that can be reviewed by a human before taking a decision.
- Winnow uses computer vision to help commercial kitchens cut food waste by Paul Sawers for VentureBeat
The standards for food are very high and thus a lot of perfectly edible food goes to waste. The United Nations’ Food and Agriculture Organisation (FAO) has estimated that roughly one third of food produced globally gets wasted every year. Winnow, a London based start-up, found a solution to the problem with their computer vision equipped garbage bin. A motion-sensing computer vision camera automatically takes a picture of the food as it is put in the bin. This model has been trained to recognise almost every fruit or vegetable. The objective is to have an overview at the end of the week or month on which types of food gets wasted the most. The commercial kitchen holders can use this data to change their procurement exercice based on this information, and not only do good to the environment but also to their business!
That's it for our 5th edition! We hope you enjoyed the readings! Feel free to give your opinion on this format and check out our other articles in the Articles section.
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See you next week!