Artificial Intelligence (AI) is already changing the landscape of business irrevocably. The error rate for machines with certain perceptive tasks stood at thirty percent barely seven years back, but has now dropped to between three and five percent. Even humans have a five percent error rate. While machines or robots may not be ideal for driving, or face recognition or for credit decisions, even humans don’t always get their decisions correct. This newer trend is rectifying Polanyi’s Paradox as it was previously understood. Companies are taking advantage of the enormous quantities of data now generated to procure authentic business intelligence about their operations. Recently a company after conducted training sessions collated the entire data which will soon become a set of records for such future sessions. New business models will emerge out of this automation that is getting generated.


Uploaded Date:31 July 2017

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