AI and machine learning with a purpose (and not to replace people)
Marie Pettersson, Chief Marketing Officer and Tech evangelist & believer, Cyviz
The world is changing, data volumes are booming and the opportunity to capitalize on data growth and the utilization of data is massive. As a Norwegian technology company, with a high rate growth, Cyviz has been selected to participate in the Innovation Norway TEA (Tech Executive City Accelerator) program in London. Together with other amazing startups/scaleups and innovators in artificial intelligence (AI), machine learning and data analytics; Cyviz has contributed with an ever increasing vital part: the collaboration tools and the spaces to visualize data and information. This suite of solutions is ultimately what companies need to take their insights to action and maximize the ROI on AI software and data collection.
AI is all about people
The other week we attended a full day session in London with prominent representatives from the Norwegian government (the Minister of Digitalization, Nikolaj Aastrup, who held a burning speech about the future of data and digitalization), Innovation Norway, the European research community, tech investors (such as the massive tech investor Softbank), and many successful companies sharing their experiences. The themes spanned widely across the AI field, yet there was one clear message: AI is all about people. People need to trust the algorithms and the software crunching the data, the people need to collaborate better to maximize the output, and people need to get the proper training. We also need a purpose. Data has no value as such, it is only valuable if it is possible to get insights, and to understand those insights to enable decisions or some kind of action. AI should be used to empower people, and even though some consider the risk of AI to be great, the risk may be even greater if we decide not to capitalize on the technology.
Some interesting applications of AI include Darktrace who work with cyber security and have created a learning algorithm to detect unknown threats. Legal text and contracts scanning using AI was another interesting example, that highlights the opportunity for lawyers or legal teams to automate tedious and time-consuming tasks. Another interesting presentation came from Combient who are venturing to bring large industrial players in Sweden and Finland together to innovate and adopt new technology. As someone once said, there are no new ideas, only a combination of old ideas. The thinking is that most companies, regardless of their size, cannot win on their own but have to partner with others to do so. In the Nordic region, we are in a unique position to be able to collaborate effectively and spark innovation that typically resides with startups and the likes.
Making the most out of AI and data – be bold and put the people in the center
The pieces that seem to represent success in AI and analytics are:
1. Adaptability – we need to be able to adapt our models and algorithms to evolving needs and advancing technology. Future-proof as much as you possibly can by standardizing, and prepare to change applications and methodology while building on a solid platform.
2. Agility – speed is everything and you need to be prepared to shift direction swiftly.
3. Audacity – there is a clear element of risk taking, which is fundamental to being able to move the needle. If we don’t take the risk and push the boundaries, someone else will.
4. Collaboration and people – technology cannot replace humans in every aspects and the diversity and discussions that people (not robots) can have will make a difference.
To be a part of the TEA program has been very rewarding and inspiring for the Cyviz team, and with the extensive network that Innovation Norway has, we have been able to meet people that help us shaping the direction for the future and to learn how to serve the customers looking to embark on the transformation journey. It is simply fantastic to see the other players that will play a crucial role in tomorrow’s technology and the revolution that AI is setting off to drive.