Embracing Modern AI in Business

The Importance of Modern AI

• Modern AI offers immense capabilities.
• Businesses need to focus on specific problems.
• Not all AI tools developed by the community are suitable for every business.

Challenges in Implementing AI

People and Skills

• The biggest challenge is not the technology itself but the people.
• There is a significant gap in connecting technology with business impact.
• Need for individuals who can relate a business problem to a technological solution and see the potential value.

Key Elements Driving AI

1. Data
2. Computing Power
3. Talent
   • Scarcity of skilled engineers to apply machine learning algorithms.
   • The field is improving but still lacks adequate talent.
   • Constructing a machine learning team or using enterprise platforms are key considerations.

Strategies for Businesses

• Construct a Machine Learning Team: To solve specific business problems.
• Use Enterprise Platforms: For drop-in AI technologies, such as speech recognition for call centers.
• Future improvements in enterprise platforms will make these processes easier.

The Future of AI

• AI should be a tool in every executive's toolkit.
• AI is considered a very powerful tool, akin to the internet's impact over the past two decades.
• AI will fundamentally change many aspects of business management and customer service in the coming decades.
• Ignoring AI is not an option due to its rapid and fundamental spread.