Artificial Intelligence is a much discussed topic in the present tech world. While one writer praises the amazing benefits AI has to offer, others warn about its potential to destroy the world.
So what is a business leader to do when faced with the inevitable decisions about adopting AI in their enterprise? This is the most frequent question being raised these days.
AI can be both used for evil and good, just like any other major innovation. For most business enterprises AI is a necessity more than a choice. Primarily because, today’s businesses rely on data analysis to constantly adjust strategy, delivery, and product development.
Stephen Ibaraki, fellow IT World contributor in his August 2016 article has summarised the business areas that rely or soon going to be influenced by AI. According to Stephen, “AI is driving new innovation business strategy due to machine learning integration into all nine areas of Alex Osterwalder’s Business Model Canvas that is the foundation of agile enterprises.”
Further he named the areas that are to be impacted by AI. “In particular, machine learning can significantly increase delivery on the enterprise’s unique or differentiating value propositions of: First mover on something new; Outstanding capabilities; Ease in tailoring to individual needs; Speed in initial usage; Attractiveness; Desired brand and associated high status by association; Best price; Lower operational costs; Risk lowering and mitigation; Ease of access and continuing use.”
The scholars on the other extreme like Elon Musk and Stephen Hawking caution about the probable threats AI might pose to humanity. Their opinion is not wrong because AI may find its way into weaponry. Criminals might put AI for wrong use. Thereby, it is important to tackle such challenges.
ITU, a specialised agency of the UN has proposed a standard approach for managing AI and in that approach enabling AI to support achievement of the UN’s sustainable development goals (SDGs). Supporting ITU is thereby a standard way to make AI a source of good and to avoid employing it for wrong intentions.