Peter Evans is the CEO of Xtract One Technologies. Read Peter Evans' full executive profile here.
As anyone with an internet connection knows, artificial intelligence is everywhere right now. You can’t read the news, scroll a social media feed or even review an earnings report without copious references to this nascent but rapidly proliferating technology.
For example, AI analyzes expansive datasets and produces actionable insights pertinent to the user. It can even distill this information into meaningful probabilities, making the mountain of data many companies wade through more insightful and valuable. On the other hand, it’s not good at actually making decisions, which humans excel at when they have the right information.
At the same time, AI innovation always brings unforeseen challenges, including hallucinations, potential biases in decision-making and concerns over privacy and security that can have major business repercussions. For example,after its customer support chatbot gave a customer incorrect information, underscoring the need for businesses to continue to iterate and improve implementation.
Simply put, lazy implementation puts you at risk of losing what makes you unique, including your voice, brand identity and the personal touch that distinguishes your services or products in the market. This can negatively impact the customer experience, diminish your competitive edge and undermine your company’s core values., publishing articles by"fake, AI-generated writers" and using AI-generated content without disclosure, undermining their brand reputation and credibility.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Use these five expert strategies to build your emergency savings fundAn emergency fund should be a priority for Americans in order to be prepared for unforeseen and urgent expenses. Experts suggest having several months of living expenses saved.
Read more »
Michigan fires Juwan Howard, the former Fab Five star, after five seasons coaching men’s basketballMichigan fired coach Juwan Howard after five seasons, parting ways with the former Fab Five star whose return to his alma mater included two trips to the NCAA Tournament before a concerning decline…
Read more »
Highest and Lowest Major League Baseball Payrolls Heading Into Opening DayMLB's five highest and five lowest payrolls for the 2024 season.
Read more »
Russia Drops to Third in Arms Trade as Exports PlungeRussian arms exports more than halved over the past five years, compared to the previous five.
Read more »
UK Govt-Backed Report Urges Firms to Execute Tokenization StrategiesCamomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
Read more »