Artificial intelligence, blockchain, cryptocurrency, and even a few robots (!) were just some of the focuses for this year’s CogX conference. Bringing together some of the most prominent organisations and people in the industry, the conference had some incredibly interesting insights when it came to the current state of artificial intelligence, and where its future direction is headed. Here are just some of the highlights from this year’s panels and sessions:
There is a gap in conversation when it comes to AI and accountancy
While attending the conference, one of the main things that stood out is where artificial intelligence is truly being applied, and where the gaps are. While there were tons of companies that offered AI transformation for HR, people, and recruiting operations, there were not as many niche companies as we were initially expecting.
AI has the potential to transform sectors such as finance, accountancy, and small businesses -- we did not see that conversation taking places. While there is a large focus on e-commerce and company operations in AI usage, there are clearly some sectors that were underrepresented in the conference.
AI is “overhyped and underappreciated”
One of the more interesting points made during the Financial Times session, “AI on the newsfloor” was that Artificial Intelligence and its applications were overhyped, but underappreciated.
Though it sounds like a paradox, the larger point was that just using artificial intelligence does not mean anything by itself. Rather, think of its applications and what sort of transformational change you are looking for. Artificial intelligence’s overhype has meant that it has become all the more accessible to businesses of all sizes, but if it is underutilized, it will not have as great of an impact as it could...and its potential for long-term and short-term impact is remarkable if companies choose to invest in that tech early on
AI has remarkable capabilities, but products featuring AI must have overall value
During an investor roundtable, one of the key points that came up when it comes to investing in AI tech is that while the technology itself is sound...its real-world applications do not quite match up.
Investors during the session bemoaned the fact that while they have seen many startups incorporate artificial intelligence into their value propositions, they still see difficulty in finding products to invest in that manage to combine the full scale of AI technology while still driving long-term value.
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