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Artificial Intelligence: The Challenge of Getting Started
The results some businesses have seen by applying AI have been stunning, but then for others just trying to get started with AI, the results have been mixed.
Interest in AI is running very high. A report by Gartner found that the use of AI by enterprises has increased by 270 percent over the last four years.
The road to AI can be difficult. Nearly two-thirds of Businesses are spending between $.5 and $10 million on AI and 64 percent of those say that implementing AI has been difficult, often taking between 7 and 18 months to go from concept to deployment, a report from Dotscience found.
What are some of the problems? It’s expensive and a technical specialty where specialists with experience are hard to find. Data scientists and engineers are expensive. Algorithms can be complex to develop, implement, and run. Training systems can take days, so turn-around times during development can be slow.
Shabbi Khan, partner at Foley & Lardner in Boston, said that “it’s hard to find enough talent for a given vertical who are equipped to handle these machine learning types of environments. As a company your argument is that ‘we might save costs,’ but you have to spend $100,000 to find out if you’ll save anything. It is not a low-cost implementation. Is it worth hiring someone to get there?”
