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Big Data LDN 2017: Reshaping Digital Business With Augmented Intelligence
- 1. Reshaping Digital Business with Augmented Intelligence 16th November Robert Golladay Managing Director, Europe, CognitiveScale golladay@cognitivescale.com
- 2. Agenda 1. Where is AI today? How does it help businesses innovate? 2. How much is real and how much is marketing hype? 3. What are the practical applications of AI right now? 4. How can you best go about leveraging AI? © CognitiveScale. All Right Reserved. | Confidential 2
- 3. We have entered the AI era
- 4. AI is already disrupting everything from coffee to concerts to cancer © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 5. Three Major AI Caliber Categories • Artificial Narrow Intelligence (ANI). Also known as Weak AI • We are currently a world (basically) running on ANI • Cars are full of ANI. It can fine tune your fuel injection (but it cant give you dating advice) • The world’s best chess and Othello players are ANI • Analysis of a mammogram is done by ANI more accurately and faster than a human. When AI starts beating us, it never looks back • Artificial General Intelligence (AGI). Also known as Strong AI . Breadth . All of this could happen soon • Very few are super skeptical of “if” . It’s when – “Why wouldn’t it just own the economy?” • Recursive self-improvement. A machine that can perform any intelligent task that a human can. It could happen faster than we think • Artificial Super Intelligence (ASI). Musk and Open AI and Neuralink to combat. AI that’s smarter than any human, across the board By 2025 ANI will be everywhere – “Cook vs Chef” Tim Urban, The Road to Superintelligence 5
- 6. ANI is Here; What About AGI and ASI? Why the Pursuit? ASI could allow us to conquer our mortality. 6
- 7. Where does AI fit in the world of Analytics, Big Data, Cognitive Computing? . COGNITIVE COMPUTING ARTIFICIAL INTELLIGENCE MACHINE LEARNING BUSINESS INTELLIGENCE RAW DATA Analysis and visualization of structured data Identify patterns and extrapolate data for prediction Creation of intelligent machines that work like humans Systems of Intelligent engagement that learn through interactions of Humans and Machines Analyze very large, multi- structured data sets, both batch and streaming BIG DATA ANALYTICS Analyzing and visualizing business information Improving processes, building smart products Self-learning processes, new products/businesses Data Lake Data Warehouse Industry and Process Agents and Skills Training Data sets Knowledge Graphs © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 8. AI is the next frontier for digital innovation © CognitiveScale. All Right Reserved. | Confidential 8 ©&2015&Forrester&Research,&Inc.&Reproduction&Prohibited 10 Continuous$learning Digital$insights What$you$need$is$a$link$between$data,$ insight$and$action All&possible& data All&possible actions Right data Effective actions Source:&April&27,&2015,&“Digital&Insight&Is&The&New&Currency&Of&Business”&Forrester&report Find hidden meaning in all available data e.g. numbers, text, images, audio, video Drive effective actions with customers and employees through personalized insights Deploy APIs, end points, and business processes that learn continuously to eventually power a 'self-driving business' All Possible Actions All Possible Data Digital Insights Continuous Learning
- 9. Why is AI resurging now? Cloud Social Mobile Big Data Analytics A.I. MILLENNIALS Artificial Intelligence Cloud Mobile Social Big Data Blockchain Super Convergence 9 © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 10. Super convergence powered disruption is already underway • World’s largest taxi company has no taxis (Uber) • Largest accommodation provider owns no real estate (Airbnb) • Largest phone companies own no telco infra (Skype, WeChat) • World’s most valuable retailer has no inventory (Alibaba) • Most popular media owner creates no content (Facebook) • World’s largest movie house owns no cinemas (NetFlix) These are ALL technology companies that engage customers brilliantly! 10
- 11. © CognitiveScale. All Right Reserved. | Confidential 11 And it is occurring at an accelerated pace
- 12. Agenda 1. Where is AI today? How does it help businesses innovate? 2. How much is real and how much is marketing hype? 3. What are the practical applications of AI right now? 4. How can you best go about leveraging AI? © CognitiveScale. All Right Reserved. | Confidential 12
- 13. Where is AI implementation today in the Enterprise? AI = Artificially Inflated AI = Amazing Innovations © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 14. AI = Artificially Inflated 1. AI is going to kill our jobs Opportunity for augmenting jobs is way larger than replacement of humans with AI. 2. Big Data and Analytics are AI These are used in AI. Data and analytics are similar to senses, but not intelligence. 3. NLP, Machine Learning and Deep Learning are AI These are just tools for complex pattern recognition. Fuel pump vs car. 4. Robotic Process Automation is AI RPA handles rule-based work, structured data inputs. Not judgement-based work, unstructured data. 5. Enterprise AI can be an opaque Black box 99+% of AI startups operate AI as a Black box. Their AI is not explainable and not compliance ready 6. Technology alone will solve all problems and overnight It’s not just about Technology but also about data, domain, methods, and change management © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 15. AI = Amazing Innovation in Healthcare 15 BusinessValue Prescriptive Predictive Deductive What could happen next? What is the best course of action? Workflows that learn and act continuously? Diagnostic What does that mean? Descriptive What happened? 90%ofBusinesses arefocusedhere COGNITIVECLOUD OPPORTUNITYSPACE Pollen.com Tweet Tue, 10:00 CT Ragweed, 81832 5 Ragweed variants 17 children at risk 3 admitted <90 days 4 will end up in ER 1 w/o reimbursement a) Parents reminder b) School Nurse c) Mail Inhaler d) Parents Uber Wed AM: How many affected Which option best? Update knowledge 1. KNOW ME My history, my environment, goals. 2. ENGAGE ME Contextual insights with evidence. 3. LEARN FROM ME Actions and outcomes, deeper profile of one. Healthcare AI Powered Process © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 16. Agenda 1. Where is AI today? How does it help businesses innovate? 2. How much is real and how much is marketing hype? 3. What are the practical applications of AI right now? 4. How can you best go about leveraging AI and where can we help? © CognitiveScale. All Right Reserved. | Confidential 16
- 17. systems of record together deliver insight Survey: What are the likely first targets of AI? • Create entirely new experiences and business models for new revenues • Augment capabilities of knowledge workers and create new revenues • Replace knowledge labor and reduce overall costs • Replace transactional labor and reduce overall costs © CognitiveScale. All Right Reserved. | Confidential 17
- 18. Case Study: Major US Retailer with and without AI 1 2 3 4 5 6 7 8 Engagement Retailer CogScale 1 2 3 4 5 6 7 Conversion CogScale Retailer © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission 20 Conversion Lift Weighted Avg. = 23.03% Engagement Lift Weighted Avg. = 44.91% This digital brain is learning & getting smarter over time.
- 19. 19© CognitiveScale. All Right Reserved. 2017 | Confidential
- 20. Retail Banking Investment Banking Wealth Management Insurance Life Goal Board – Holistic life and financial planning solution, encouraging customer engagement, facilitating customer acquisition via personalized insights and “Profile of one” Wealth Advisor – Augmented intelligence solution providing contextual insights to a relationship manager or wealth team, enabling higher productivity and better customer upsell (via next best action) Trading Insights (QR) – AI-based solution providing investors with research insights based on their interests and portfolio holdings. Provides the kind of tailored insights that are today only available to institutions and hedge funds. Profile-of-One – Build an augmented, inferred customer record, driving better customer experience and opportunity identification Early Warning System – AI-based solution that provides executives with macro eco/geo and social trends that could impact customers, book, products or business models. Marketing Segmentation – AI-based solution that builds and infers customer segmentation groups from all available data, providing marketing and sales teams, new and augmented dialogues with their customers Customer Retention – Based on all customer interactions, using available 1st and 3rd party data, leveraging the Profile-of-One, build a targeted strategy for each of your at risk customers Banking & Financial Services Capabilities (CogScale Examples in Banking) © CognitiveScale. All Right Reserved. 2017 | Confidential
- 21. 21© CognitiveScale. All Right Reserved. 2017 | Confidential
- 22. 22© CognitiveScale. All Right Reserved. 2017 | Confidential
- 23. 23© CognitiveScale. All Right Reserved. 2017 | Confidential
- 24. Agenda 1. Where is AI today? How does it help businesses innovate? 2. How much is real and how much is marketing hype? 3. What are the practical applications of AI right now? 4. How can you best go about leveraging AI? © CognitiveScale. All Right Reserved. | Confidential 24
- 25. How do I go about making my people faster, smarter, better with AI? 1. Start top down with business outcomes Focus on business outcomes around a targeted “heat map”, deliver incremental capabilities 2. Build a culture of experimentation and learning Experiment, pivot, and evolve. Test and measure business level outcomes in 90-day sprints 3. Pay for success vs Pray for success Make small bets that deliver in weeks, no big-bang deployments, doubt vendor marketing claims 4. Lay Your Company’s AI Business foundation Run three parallel tracks of Production, Innovation, Center of Excellence for Skills/Processes 5. Partner Smartly Build a AI ecosystem not just an IT platform. Partner with nimbler companies © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 26. Time is precious, figure out where to spend it © CognitiveScale 2017. All Right Reserved. | Confidential | Do Not Use Without Permission 26 Data Fabric Intelligence Fabric Experience Fabric Cognitive Scale's AI Heat Map
- 27. Building the Prioritized Portfolio of AI Use Cases © CognitiveScale. All Right Reserved. | Confidential 27 1 4 3 2 YOU COGNITIVESCALE ANALYSTS ROADMAP Your Client Business Units and Clients CognitiveScale Industry Heat Map Industry Reports, Analysts updates Validated & Prioritized use cases for Execution
- 28. Why is AI adoption an imperative for you? 1. Your Customers Will Care AI technology has already made an impact on our personal lives: Siri, Alexa, and more. Before long, most customers will be able to discern between an AI-powered interaction with a company and one that hasn’t made the leap. 2. Your Employees Will Care The challenge of getting the most from your talent never ends. Enterprise AI moves help daily work away from low-value repetitive tasks and toward delivering better decisions sooner. Before long, future talent will be able to discern between AI-powered employment opportunities and the traditional kind for a better career in the future. 3. Your Investors Will Care All things being equal, companies with systems of connected intelligence and engagement should lead to superior returns. Just like smarter, more informed people tend to do better in life and like Amazon. Before long, investors will be able to discern between those AI-enabled organizations and those that aren’t. © CognitiveScale. All Right Reserved. | Confidential 28
- 29. Our AI Products are proven • 42% increase in shopper engagement, 21% increase in conversion • 8x increase in wealth advisor productivity • 32% drop in trouble tickets and 50% increase in resolution time • 8% drop in claims denial, 15% drop in claims administration costs • > 90% invoice matching confidence rating Our clients are global market leaders • World’s largest department store • World’s largest cancer center • Worlds largest non-profit healthcare system • World’s largest oil & gas company (Fortune #2) • World’s second largest telecommunications company • World’s most valuable bank * Deloitte and IDC estimate market of Enterprise AI to be $40B by 2020 7 Strong investors and $50m+ in funding Company Profile
- 30. CognitiveScale’s AI focus: Augmented Intelligence 20% of value Highly noisy, feature companies 80% of value Emerging, verticalized full stack © CognitiveScale 2017. All Rights Reserved | Confidential | Do Not Use Without Permission
- 31. A foundation for AI powered business processes 31 AI Powered Business Processes, New Business Models Client’s Cognitive Cloud © CognitiveScale. All Right Reserved. 2017 | Confidential
- 32. Thank you! 32© CognitiveScale. All Rights Reserved. 2017 | Confidential ENGAGE. AMPLIFY. WIN. With our Industry Cognitive Clouds Robert Golladay Managing Director, Europe, CognitiveScale golladay@cognitivescale.com