Is your Company’s Data Actually Valuable in the AI Era?


There are many business professionals that claim that a company’s data is what will drive the artificial intelligence economy.  Companies then think that the hard part of using that data is over, they’ve been working so hard at collecting and storing this data, and now AI is here so they can put some intelligent analysis behind it to make better business decisions.  However, the data that you have now is only needed to build the basis of an AI system.  The AI system can be trained off of the data that your company has previously collected, but then this data is devalued.  Once the data has been used to reach a conclusion by the data scientists, it is archived or backed up and stored away, as it is considered used and no longer useful.
                  The ongoing value of data becomes apparent when running your business’s daily operations.  The new data that is collected allows the AI system to operate, and the machine will learn how to adapt and mold itself to make better decisions.  AI startups do not have this back data to make the decisions and train an AI machine, however, by acquiring new data, it will get smarter and better assist in streamlining daily operations. 

Citation: Agrawal, A., Gans, J., & Goldfarb, A. (2018). Is Your Company's Data Actually Valuable in the AI Era?. Harvard Business Review Digital Articles, 2-4.

Comments

  1. AnonymousApril 19, 2018 at 6:11 PM

    Cam, this seems like a great opportunity for a data storage company to swoop in and provide a data storage solution to all these AI-using company!!

    ReplyDelete

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