AI Deployment: Preparation and Precautions

by January 7, 2019 0 comments

Attributed to: Faisal Husain, Co-founder and CEO, Synechron

“In the years leading to the industrial revolution, people feared that automation would take away most of their jobs. Today, many of the jobs that we do were not in existence 20 years ago. While data is an essential asset, individuals are the ones building, computing and shaping the success of Artificial Intelligence (AI). People are the ones who will consume or reject the outcomes of AI and who will feel its myriad of impacts.

To be AI ready, businesses should invest in cultural and mental constructs of Artificial Intelligence across leadership, employees and users. Artificial Intelligence isn’t just about data scientists and machine learning algorithms; as we develop software and machines to handle more cognitive and tedious tasks, it is about reconsidering how we do things and why. This, ironically, requires a higher level of checks on the part of the individuals designing, building, and using the technology, as well as the organizational leadership’s ultimate goals for the technology.

According to a recent industry report, almost 68 per cent of Indian business decision makers believes that Artificial Intelligence will help their business by boosting productivity, generating growth and addressing societal issues. For a business to deploy Artificial Intelligence, business leaders should make a conscious effort to bring all employees on the same page and help them get rid of their concerns by investing in the right skill-development programs.

While businesses understand the many benefits of implementing an AI-based business model, they are not yet ready to replace or modernize their legacy systems as it forms the backbone of their business.

Factors such as high replacement costs, lead-time to development, integration with older technologies and lack of understanding play a huge role in creating this mental block. To remain competitive in today’s world, businesses need to adapt themselves to the changing ecosystem. India is still at a nascent stage when it comes to adopting AI-driven business models; it is, therefore, important to put proper checks and balances in place to create a favourable attitude towards this technology.

We at Synechron follow the two untold universal truths about AI, which serve as starting points for effectively building people’s understanding, engagement, and role in our Artificial Intelligence journey.

  1. AI needs to be diversified:

AI must be developed by people who understand the business and domain problem (not solely the technology). The gravity of some applications (e.g., credit scoring or default prediction) demands diverse perspectives, including human and cultural diversity, multidisciplinary expertise, and workflows to monitor domain dynamics. It takes a team, not an individual.

  1. AI is directional:

AI is continuously learning from its past actions and never stops reinventing itself; it is full of probabilities and requires critical thinking on part of the programmers due to errors in judgments. This is where the right skill will play the most important role – by designing AI systems to balance the benefits, risks, and auditability of the application.”

Also Read: The Impact of Artificial Intelligence (AI) on Fintech

No Comments so far

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.