What is the potential of Artificial Intelligence?

Original article was published by Nithin on Artificial Intelligence on Medium


What is the potential of Artificial Intelligence?

Spending on research, development, and deployment continues to rise, and debate over the wider social implications rages on. Meanwhile, the incentives only get bigger for those looking to roll out AI-driven innovation into new areas of industry, fields of science, and our day-to-day lives.

In a world where buzzwords come and go, Artificial Intelligence has been remarkably imperishable. The technology which first emerged as a concept in the 1950s, there has been a relatively constant flow of technologies, products, services, and companies that claim to be AI. It is quite likely that a solution you are investing in today is being referred to as AI-enabled or machine-learning-driven.

The reality today for most organizations is that AI and machine learning form a rather small piece of the overall analytics pie. Indeed, research conducted by London-based investment firm MMC Ventures revealed that 40 percent of Europe’s artificial intelligence startups did not use any AI at all. Furthermore, the offerings of many startups and analytics providers, even if quite advanced, fall short of even basic AI.

As an emerging technology, AI faces and will continue to face its fair share of challenges. On the one hand, consumers remain wary about adopting new tech. Envisioning a world where humans are displaced by AI-empowered machines gone amuck may be haunting a few late adopters. On the other hand, companies express frustration that AI has yet to prove itself to be the magic pill that will streamline every business process and pave a path to bountiful profits.

So how do you tap into the real potential of AI?

Building a diverse team to solve the ‘impact’ conundrum

According to research by MIT, it was found that it is imperative to have a diverse AI team. In fact, An effective diverse team needs experts from each of the non-STEM disciplines to contribute to the understanding of the text and how we as humans use words to communicate. (For the sake of convenience, we’ll use “English majors” as shorthand for all of the non-STEM disciplines.) These domain experts will notice the subtle distinctions between U.S. English and British English and how grammatical rules change depending on which stylebook is used; they’ll discern subtleties of rhythm and word choice along with echoes of a poet’s phrasing or a novelist’s style. In short, these English majors contribute a valuable perspective that engineers may not naturally share.

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