Summary of Framing AI for Business

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Framing AI for Business summary

Rating

8 Overall

10 Applicability

8 Innovation

7 Style

Recommendation

Boston Consulting Group senior partner Philipp Gerbert competently and clearly discusses AI – without testing your patience. What initially seems a standard PowerPoint presentation swiftly proves itself a solid primer on AI for business. getAbstract suggests updating your business playbook with lessons from this relevant talk.

In this summary, you will learn

  • What traits and behaviors define AI,
  • Why AI has gone from fringe technology to the mainstream, and
  • How to use four principles to apply AI to your business.
 

About the Speaker

Philipp Gerbert is a senior partner and managing director at the Boston Consulting Group Munich.

 

Summary

Artificial intelligence (AI) brings a new paradigm to computing. Traditional computers automate logic and calculation. By contrast, “AI automates inductive learning,” the cycle of taking input, acting and receiving feedback. Thus, AI is any “machine-based system” that recognizes its surroundings, pursues objectives, changes as needed, and then delivers information or action. AI builds on simple principles, including a “neural networks” algorithm. Such networks are analogs to the human brain, with its nerves and synapses. Yet AI works faster than the human brain and solves problems much differently. How did AI become mainstream? Processing power and data grew, and technologists solved two major flaws of AI: its lack of sight and language. Now, AI can navigate the physical world, such as in drones, and it can interact with people and access written knowledge.

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