The democratization of AI means making it more accessible to a wider range of businesses and business users. Making AI accessible will not only increase the sheer numbers of those who utilize it, but will spawn an ever increasing number of applications that will leverage and exploit AI in new ways as well. This in turn will help in accelerating AI experts’ time to engineer new and innovative cutting-edge developments in and around AI. The article that follows does an excellent job of detailing how making AI technologies available to the masses will drive more widespread and systemic use of AI.
When we look at the most influential companies in the world like Microsoft, Facebook, Google, Amazon, Netflix, etc., they have many similarities. They all own a lot of data and have now mastered the art of applying AI to it!
As much as everyone talks about AI, using buzzwords like “Data Science”, “Machine Learning” and “Deep Learning”, there are only a small number of companies that are really using AI as part of their core business.
A study by research-led venture capital firm MMC Ventures showed that, in Europe, only 60 percent of start-ups were actually using AI in a way that’s material to their value proposition. If we were to include all start-ups and established companies, this percentage would decrease even more.