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What are the best AI Practices in 2023?
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Summary of the Episode
This week we had leading AI specialist Dr. Shahzad Cheema in conversation with Furqan Aziz the CEO and Co-Founder of InvoZone. They discussed
➡️Building a high performant AI team
➡️How big corporations are going to use AI?
➡️How can businesses apply AI ethics?
Dr. Shahzad is currently serving as the leading AI Algorithm Expert at Huawei Nuremberg Research Center and has worked with big corporations such as IBM as Quantum Ambassador and DHL as Data Scientist-Senior Expert
Show Notes
- Building successful AI teams is not something easy and neither it is about blindly following the trend by jumping on the bandwagon. As per Dr. Shahzad, it is extremely difficult because AI in comparison to others is a new field, and it is hard to find the right experienced individuals. Because the right tools are coming into the field including appropriate education. Another problem related to this regard is the vagueness and uncertainty attached to AI projects. What companies forget to do is to build awareness in their teams about this uncertainty and vagueness. So for large, it is important to start from the corporate strategy level. As for startups and mid-tier companies, the best solution is to hire companies that provide AI services.
- The first step towards AI ethics in business is awareness and what is hard here is that ethics and morals keep on changing. It is important for a company to know where they stand. For instance, there are very strict laws like GDPR which make it obligatory for a company to tell where the data is and who is the owner of the data. Keeping in mind the fact that something might be legal but not ethical.
- The latest Deloitte study states that over 50% of organizations are planning on incorporating the use of AI and automation technologies in 2023. The biggest use of AI in businesses will be associated with digital transformation because large corporations always have transformational needs with different preferences. Some would like to harmonize everything in a single cloud, some would like to diversify and get into vendor lock. In short, every organization has different requirements but the data lakes will witness a huge influx of data engineers.
- Dr. Shahzad will also share methodologies for effective handling of AI-based projects such as IBM crisp DM procedure for data mining. Click on the hit button above to find out ☝️
