What is an AI asset? The first type is a compounding dataset. This is a dataset that, in conjunction with a machine-learning model, continually yields complementary data. This creates a competitive moat. These datasets are important because they prevent other companies from effectively making similar products. I draw a distinction between general big data and a compounding dataset. The distinction of the latter is that it grows in importance exponentially rather than purely in size.
AI is competitive and complementary with labor, and it creates efficiencies in capital allocation and expenditure. In the past, when a business applied for a loan, it required people and capital to be approved. Today, at a smart bank, it requires people, capital and AI. AI should be viewed more like a commodity like steel. It has a cost, implementation time and expected useful lifespan. The correct question is “how much AI do we need?,” not “what AI should we build?”
Premier Farnell has launched a dedicated Artificial Intelligence (AI) online resource on its website. The pages cover a variety of topics ranging from basic explanations of AI, and different types of AI applications, to descriptions of specific AI products including several ranges that are exclusive to Premier Farnell. The […]