Why we need data-centric AI more than ever
The leading organizations in AI, such as the Big Nine, have achieved incredible results with ML since the turn of the century, but how is AI being used in the long tail?
A 2020 survey published by MIT Sloan Management Review and Boston Consulting Group concluded that most companies struggle to turn their vision for AI into reality. In a survey of over 3,000 business leaders from 29 industries in 112 countries, 70% of respondents understood how AI can generate business value and 57% had piloted or productionized AI solutions. However, only 1 in 10 had been able to generate significant financial benefits with AI.20
The survey authors found that companies that were realizing significant financial benefits with AI had built their success on two pillars:
- They had a solid foundation of the right data, technology, and talent.
- They had defined several effective ways for humans and AI to work and learn together. In other words, they...
