Artificial Intelligence for Business, Briefing: Issue 1
The British Government is introducing brand new legislation to regulate the use of AI (Artificial Intelligence) across all industry sectors. This is going to affect all businesses as well as individuals in the UK.
Think Artificial Intelligence is not relevant to your business?
Well, your competitors think otherwise. Here is an excellent paper that explains why (with plenty of real examples).
AI and The UK Government
At the time of writing, the House of Lords Select Committee on AI is reviewing some 200 written evidences (including my own). The objective to have a better insight into how different industry sectors perceive AI and what is the socioeconomic impact of AI, including employment.
AI and the Service Sector
At last, it is a matter of time before you can enjoy the luxury of getting impartial, bias-free and instant evaluation of apartment rents and prices – for free. All you need to do is provide some preliminary information about any apartment in London (and subsequently any city in the UK) and get an estimate right away!
We are at the stage of fine-tuning the system, which is due to lunch in the first quarter of 2018 so stay tuned.
AI and the Industry Sector
Following Amazon’s AI powered checkout-free supermarket announcement (see Amazon Go: A Disruptive Supermarket powered by Artificial Intelligence), Tesco have announced the development of a similar system. How similar, and more importantly how reliable the two systems are remains to be seen. Simply put, a checkout-free system combines data from your smartphone sensors and cameras all over the store to determine what items you’ve put in your basket (or returned to the shelves). You are charged the moment you exit the shop automatically. In this sense, AI allows retailers to drop their prices while still remain profitable.
Artificial Intelligence is quickly changing from a nice-to-have to a competitive business tool and indeed will become a vital kit for business survival in just a few years. The golden business role “better be safe than sorry” tells us in to accept Artificial Intelligence and start thinking how to leverage it and integrate it into business workflows.