Joydeep Dam, ranked among India’s Top 10 Data Scientists, recently delivered the keynote lecture on ‘AI for Digital Enterprises’ at Cypher 2018 – an annual analytics summit that brings together the best minds of the data science ecosystem across India.
Joydeep Dam commenced his keynote by emphasizing the herald of the AI revolution in our lives – It’s dynamic, omnipresent, and here to stay.
From advanced scientists in hi-tech companies to potential startups who are discovering the immense potential of AI, it’s undoubtedly the buzzword of the century. Dam, who heads our Innovation and AI Labs, delved into the topic by chronicling the AI Hype Cycle.
Demystifying the AI Hype Cycle
Gartner Hype Cycle for Emerging Technologies (AI)
The emergence of any new technology passes through the ubiquitous Gartner’s Hype Cycle; a big-picture view of the future, risks, and opportunities of tech. Starting with the Technology Trigger when the market is abuzz with new concepts, potential experiments, and prototypes, one moves to the sudden peak of Inflated Expectations. Here, the capabilities of technology aren’t wholly understood and it leads to unrealistic expectations and slow adaptations. Currently, AI is poised at the crest of this slope – while we know that it is the future and we see a lot of consumer systems enabled with AI technology, enterprises have a long road to traverse. It must be remembered that when Big Data had emerged as the disruption in the market, it had to move through the different phases of the Hype Cycle to reach the Plateau of Productivity which is the viable juncture of well-integrated technological systems. While industry experts predict that AI will need about 2-5 years to reach this plateau, with the combination of Deep Learning algorithms and Machine Learning techniques, companies like BRIDGEi2i are helping enterprises keep pace with tech.
Finding The Silver Lining for AI in Digital Enterprises
With Big Data ecosystems evolving, AI Accelerators can help speed up decision making and develop more efficient processes across industries. Enhancing customer experience, improving operational effectiveness and innovating on new business models are some key AI-enabled offerings that help increase revenue for enterprises. Moreover, AI can drive faster and more accurate decision making by delivering real-time insights at the point of action. BRIDGEi2i’s flagship team: Innovation and AI Labs has identified four levers that drive all digital transformation for enterprises – monitoring data, personalizing recommendations, optimizing resources, and enabling intelligent conversation. The combination of our AI Accelerators such as Watchtower, Optimizer, Recommender, and Converser are the founding blocks to create contextual solutions for digital enterprises.
For a more detailed video detailing the Hype Cycle and Digital Transformation Levers of AI, you could watch the full version here.
Source: Gartner Hype Cycle