DUBAI - People use and benefit from Artificial Intelligence (AI) many times in their daily lives without even knowing it.
Navigation that finds the best route while driving, photo tagging suggestions on social media platforms, speaking with virtual assistants, doing online searches, using online translators, using facial recognition to unlock phones, getting e-commerce product suggestions, and streaming what to watch recommendations, to name a few, all use some AI techniques in the background.
It is well-known that the big American tech companies, Google, Amazon, Facebook, Apple, Netflix, and Microsoft (some call them GAFANM for short), are the providers of these daily AI use cases. Now, the time has come for other businesses to embrace AI and become AI-driven organizations.
AI is expected to contribute USD15.7 trillion to the global economy by 2030, almost equal to the current output of China and India combined. This contribution will largely come from labor productivity, personalization, time saved, and quality.1 Organizations have the potential to get the most out of this contribution when they set their strategies early, prepare their roadmaps, and start reaping the benefits of AI.
Set strategy at the top
The term artificial intelligence was coined in 1956, and it has been used in classic movies like Terminator and The Matrix telling catastrophic stories.2 AI has also been tested against humans in recent years, such as IBM’s Deep Blue playing chess against Garry Kasparov in 1997, and it has only been within the past few years that businesses have started investigating AI. There are two main reasons that have enabled AI to achieve much more advanced use cases.
AI researchers discovered that graphics cards that are good enough to analyze high volumes of imageThe content herein is subject to copyright by The Yuan. All rights reserved. The content of the services is owned or licensed to The Yuan. Such content from The Yuan may be shared and reprinted but must clearly identify The Yuan as its original source. Content from a third-party copyright holder identified in the copyright notice contained in such third party’s content appearing in The Yuan must likewise be clearly labeled as such.