Artificial Intelligence is like Lego; to build something nice, you need to combine the right pieces in the right way.
Most of us have played with Lego when we were small. I did at least and I absolutely loved it. I can remember the days when my friends and I were playing with Lego for hours on end, constantly creating new structures and building complete cities. We loved it and I am sure it stimulated my creativity. Even adults still play with Lego, often in group exercises to get some creativity flowing. Lego is a wonderful product and I thank Ole Kirk Christiansen for inventing it.
The fast-changing, uncertain and ambiguous environments that organisations operate in today, requires organisations to re-think all their internal business processes and customer touch points. In addition, due to the availability of emerging (information) technologies such as big data, blockchain and artificial intelligence, it has become easier for startups to compete with existing organisations. Often these startups are more flexible and agile than Fortune 1000 companies and they can become a significant threat if not paid attention to. Therefore, focusing purely on the day-to-day operation [...]
Open strategy is the decentralisation of strategy formulation across, previously excluded, internal and external stakeholders. Traditionally, companies focused on control and ownership of an organisation’s assets to ensure competitive advantage. However, this focus on control of resources is no longer the key to success. In today’s data-driven societies, knowledge, i.e. data, is widespread and easily accessible and organisations are increasingly turning into data companies. Access to this knowledge can fuel innovation, especially when it is used to embrace external ideas and data and when [...]
It is that time of the year again and 2017 is over before we knew it. The Year of Intelligence brought us a lot of progress and change; from over-hyped ICO’s to algorithms that created secret languages. As every year since 2012, I provide you with seven of the most important technology trends for 2018 to help you, and your business, prepare for the next year.
One thing that we can state is that we are on our way to enter the 4th Industrial Revolution. Many of the technologies that have been promised for decades are constantly improving and are now reaching a point of maturity. Once that [...]
Big Data has ushered in an era of data analytics that is taking different forms, including prescriptive analytics. This type of business analytics helps you find the best approach for a specific circumstance. It is also considered the third or final part of business analytics, which also encompasses descriptive analytics and predictive analytics. Prescriptive analytics leverages predictive analytics and descriptive analytics to derive ideal outcomes or solutions from helping you solve business problems, and it is driving the future of Big Data. Here's how:
Differences Between Prescriptive [...]
By 2020, approximately 20.4 billion devices are estimated to be connected to the internet. These IoT devices are getting smarter, connecting to intelligent applications, such as Amazon's Alexa or Apple's Siri, and helping consumers make transactions and complete tasks. However, they are also sparking conversational AI, and it stands to change customer service. Explore conversational AI, its benefits and challenges, and how it will help change customer service:
What Is Conversational AI?
Conversational AI consists of an advanced technology that uses natural language processing (NLP) so that [...]
With technological advancement, artificial intelligence is set to touch and modify the financial sector, specifically retail banking in many different ways. It's still the beginning stages of AI adoption for most banks. A Narrative Science survey highlighted that 32 percent of financial executive participants utilize AI technology, such as voice recognition and predictive analytics. Moreover, an Accenture survey noted that 76 percent those surveyed believe most banks will use AI interfaces primarily for customer interaction by 2020. But AI is changing retail banking in more ways than one. [...]
The earth is having a difficult time, for quite a while now. Deforestation is still happening at a large scale across the globe, in Brazil alone, 40,200 hectares were deforested in the past year. The great pacific garbage patch is still growing and smog in Beijing is more common than a normal bright day. This is nothing new, unfortunately, and with Trump leaving the Paris agreement, it seems that problems will remain for a bit longer. However, there is some good news. Since a few years, scientists, companies and governments are turning to Big Data to solve climate change problems or even [...]
Prescriptive analytics can be seen as the future of Big Data. If we see descriptive analytics as the foundation of Business Intelligence and we see predictive analytics as the basis of Big Data, then we can state that prescriptive analytics will be the future of Big Data. There are three stages of big data analytics: descriptive analytics, predictive analytics and prescriptive analytics, where each stage offers more and better insights to create a better organisation. Each phase also growths in complexity as does the value it can offer the organisation.
Descriptive analytics enables [...]
Of course, you know all about web analytics or social media analytics, which has been around for years. However, web analytics and social media analytics alone is not enough to gain an understanding of your (online) business. There is another type of analytics that cannot be overlooked, which is content analytics. What makes it so special and why should you be paying attention to it?
Content analytics can be defined as unlocking business value from unstructured content via semantic technologies to find answers to important questions or discover causes to certain trends. Companies can use [...]