REIsearch NEWS

15/02/2019

Data: The Fuel Powering AI & Digital Transformation

Forbes says the currency of tomorrow isn’t what you think: It’s not cold hard cash, precious metals, land or even cryptocurrency – it’s data. In the very near future, every company in the world will either buy or sell data as this corporate asset continues to gain value.

But, it’s not enough to have access to vast amounts of data, you need to understand it and use it. The promise of AI is that knowledge gained from applying analytics to the wealth of data that is available today will enhance any decision-making process with additional intelligence, helping us produce quicker, more effective outcomes - Microsoft  AI systems can access and analyze large datasets so if businesses are to take advantage of the explosion of data as the fuel powering digital transformation, they’re going to need to artificial intelligence and machine learning to help transform data effectively, so they can deliver experiences people have never seen before or imagined. Recent research underscores the importance of data to a company’s bottom line so its not surprising companies are focussed on making their data relevant. Data is driving the customer experience, and analytics, machine learning and AI running on advanced hardware platforms are empowering companies to look at data as strategic enabler not an output product. A few examples include the hyper-personalization of a retail experience, location sensors that help companies route shipments for greater efficiencies, more accurate and effective fraud detection, and even wearable technologies that provide detailed information about how workers are moving, lifting or their location to reduce injuries and increase safety. And that’s just the beginning.  Advanced algorithms are analyzing genetic information to help to detect disease earlier than ever to save lives.

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