Will the Real AI Please Stand Up?
Artificial Intelligence (AI) is often thought of as something from out of this world, with droids, spaceships or flashy computers. In reality artificial intelligence is already changing the world in many mundane ways. Coseer, for example, is automating tedious language related tasks in enterprise workflows that are far from sexy.
Let’s take the problem of adapting to changing consumer behavior in the Internet Age. Anyone selling anything online must ensure that their product is competitive – an overpriced offer is not only a lost business transaction, it leaves the customer with a perception that keeps them away from the website for some time. It was easier when there were was one discounts season. Now campaigns and dynamic pricing strategies start at a single click, and the idea of a discount season is only a myth.
Technology gives hope. Industry leaders like Amazon have invested hundreds of millions in developing proprietary technology to address this. As a result Amazon changes prices of its products multiple times a day. Others, like banks with multiple debt offerings use sophisticated models to price them centrally and assume that market will conform. Most players, however, use humans to solve the problem. Not only is that unglamorous, boring and tedious, it is also adhoc and limited in scope.
In other words, it is ripe for real AI.
AI, like Coseer’s, scores over conventional technology in scalability, flexibility and richness of data extracted from any source. The biggest advantage however, is that AI technologies, like humans, can tell good data from bad and focus on the good part. They do so millions of times at once, and they do it fast. Then there are things like summarization of thousands of reviews on every product to distil exactly what consumers are saying or finding different patterns.
As sexy as the technology is, applications of real AI may be completely unsexy. All we hope is that we can change the mix of an ecommerce executive’s day from tedious browsing to proactively planning the next killer campaign. We are cutting down decision cycles and making startups as well as Fortune 500 players more nimble. Stay tuned with us in our journey – follow us Social Media.