SESSION 12 - Artificial Intelligence for the real world

Question 1

Whats the article about?

Answer 1

The Article:
● Looks at the different types of AI that are being employed
● Provides a framework for how companies should begin to build up their cognitive
capabilities in the next several years to achieve their business objectives

The Problem
Cognitive technologies are increasingly being used to solve business problems, but many of the most ambitious AI projects encounter setbacks or fail.
The Approach
Companies should take an incremental rather than a transformative approach and focus on augmenting rather than replacing human capabilities.
The Process
To get the most out of AI, firms must understand which technologies perform what types of tasks, create a prioritized portfolio of projects based on business needs, and develop plans to scale up across the company.

Question 2

AI can support three important business needs:

Answer 2

➔ Automating business processes
➔ Gaining insight through data analysis
➔ Engaging with customers and employees.

Question 3

Whats process automation?

Answer 3

○ Most common type used
Example tasks:
○ Updating customer files with address changes
○ Replacing lost credit or ATM cards
○ Fixing failures to charge for services through different billing systems
○ Scanning contracts and legal documents to extract information like due dates
Pros:
○ Least expensive
○ Easiest to implement
○ Quick and high return on investment
○ Well suited to working across multiple back-end systems (routers, network
servers, and email servers)
Cons:
○ Least “smart” AI (doesn’t learn/improve itself)
○ Likely to lead to some job losses in the future (If you can outsource a task,
you can probably automate it)

Question 4

Whats cognitive insight?

Answer 4

○ Second most common type used
○ Detect patterns in vast volumes of data and interpret their meaning
○ “Analytics on steroids.”
Example tasks:
○ Predict what a customer will buy
○ Identify credit and insurance fraud in real time
○ Identify safety or quality problems in cars
○ Automate targeted ads

Question 5

Whats cognitive engagement?

Answer 5

○ Engaging employees and customers by using natural language processing
Example tasks:
○ Customer service chatbots
○ Password request changes
○ Internal chatbots for employees questions
○ Product and service recommendations that increase sales (retail)
○ Health treatment recommendations to help providers create care plans

Question 6

Whats the 4 step framework for implementing AI - technologies?

Answer 6

1. Understanding the technologies
2. Creating a portfolio of projects
3. Launching pilots
4. Scaling up

Question 7

Whats the conclusion?

Answer 7

➔ These technologies will eventually transform work so companies adopting AI now are well positioned to reap benefits in the future
➔ Marketing, health care, financial services, education, and professional services could become more valuable and less expensive to society
➔ AI will free up human workers to be more productive and creative ➔ AI will not take over entire jobs only tasks within those