Articles > AI for Business - Your 5 reads of the week #6

a month ago


Hello readers and welcome back to our weekly AI for Business reads. 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!

We are happy to see more and more interest towards our AI for Business reads, hope you will also enjoy this week’s list! In this week's edition, we will take a closer look at:

  • 8 actions to introduce AI in a human way
  • What to do about data scientist shortages
  • Five strategies for getting the most out of AI
  • How Warby Parker uses AI and AR for a better customer experience
  • Total uses AI to cut drilling costs and attract young talents

FIGURE OF THE WEEK

57%: more than half of the employees interviewed by Automation Anywhere say that more initiatives to trial different types of AI by their company would increase their productivity in the long run. In contrary, only 16% of the employees believe AI will slow them down. AI is showing its potential and thus more and more employees have confidence in its added value.

AI AND HUMANS IS THE OPTIMAL COMBINATION

An increasing amount of companies are automating processes, but the paradox about this that it takes people to automate! The type of automation that AI brings, creates new types of career opportunities and removes the routine aspect of jobs.

Among employees there is a widespread believe that AI can help in making repetitive jobs interesting and appealing again. The job dissatisfaction increases the higher the routine factor. Hence, employees believe that the key to automation is finding the right balance between humans and digital workers, because these two have complementary skills. Automation frees up resources such as time, money, effort and brainpower and these could be reinvested in people in learning other creative skills, interaction with the customer or developing your business. The article follows up with 8 courses of action to introduce AI or other technology strategies in a smart and strategic way. The ones you should most reminder are: protect people not jobs, seek diverse talent pools and take a collaborative approach to automation.

Thanks to trends such as Big Data, Machine Learning and Artificial Intelligence, the demand for data scientists is at an all time high. Companies are able to extract huge amounts of data from their website, processes or activities that they feel the need to learn from this data. Using this data properly can mean the difference between business success and failure.

Being a data scientist requires not only a basic knowledge of coding languages and statistics, which you could learn on online courses, but also a massive amount of training, education and knowledge that is gained through hands-on experience. Finding trends or correlation, removing noisy sources within different data sets are very difficult tasks and mastering these skills makes you very valuable for many companies.

This webinar begins with a clear introduction to the world of AI and its omnipresence in different types of businesses. If you have been following our AI reads you already know this hence you are not an AI rookie anymore.

The interesting insights start after 13’25”: the 5 key themes Mc Kinsey recognised that management should know about AI:

  • AI is more about growth, then efficiency
  • The best return to AI are people
  • Only offensive AI strategies drives profits
  • Digital foundation is key
  • Think not alone - think ecosystem

AI IN PRACTICES

Warby Parker is well known in the optical industry as being a disruptor that invests a lot in digital and new technologies.

Warby Parker uses AI and Augmented Reality to enhance the customer experience. A first function they found is a combination of AI and AR, they use AI to understand the figure of your face and AR to propose different frames that match best with the shape of your face. They also use AI to have a more personalised client relationship, they want to combine in store experience data with online experience data so you can target different people in different ways.

A big struggle for the retail sector in changing customer needs. AI can help determine when customers frequently want something new and figure out the best way to deliver this to the customer. AI can also help the in-store employees with customer queries, it can be used as a tool for them to better help customers with as much information as possible.

Total has a plan to attract young talents to their industry, they are creating a digital factory that will employ between 200 and 300 engineers. They will work in close collaboration with Google to find applications for AI based on subsurface data. The objective of this digital factory is to screen geological data and identify new opportunities for Total to save costs on exploration and production projects. For example by shortening the time of acquiring licenses, drill and make discoveries.

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See you next week!

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