Tuesday, 16 January 2024 10:00 AM
Company Update
NEW YORK, NY / ACCESSWIRE / January 16, 2024 / From manufacturing to finance to medicine, artificial intelligence benefits business outcomes in sectors across the board. According to Bane Hunter, AI is becoming fundamental to effectively managing desired outcomes. Hunter is a product executive and technology-based outcomes specialist with both national and international experience.
The executive is well-known for creating value through technology integration and specializes in digital transformation and product and program management. He's also highly regarded by his technology sector peers. His focus and passion have always been to consistently deliver significant value to the products and processes he oversees. As he puts it, "The best-designed product in the world that does not deliver the desired outcome is just a missed opportunity and a waste of capital"
Bane Hunter has recently spoken at length on topics including creating product value across merger integrations and how to adapt based on data. Now turning his attention squarely toward artificial intelligence, the following is a closer look at how the expert believes AI will benefit technology-based outcomes in 2024 and beyond.
How is AI benefiting technology-based outcomes?
AI's benefit surrounding technology-based outcomes is currently most apparent within larger institutional organizations that have rich and appropriate data sources. For example, collecting and analyzing data using AI directly drives pattern and trend identification in almost all facets of modern business processes, be they internal or external.
Discovered patterns and trends help with forward modeling and improved efficiencies. At the same time, they can directly impact profitability and how capital should be deployed. Artificially intelligent technology solutions also boast many adjacent and resulting benefits beyond just profitability, such as employee engagement, customer retention, and even risk management, to name a few.
One example is faster response to a given scenario or emerging issue- something born directly out of faster data analysis and application of AI. The more of a time horizon and greater the chance of something occurring (or not ) is known, the greater the advantage this becomes. Of course, there are many other benefits, too. Furthermore, more are coming to light almost daily as AI continues benefiting technology-based outcomes across the board.
Why is AI such a powerful tool when it comes to tech-based outcomes?
Take launching a new product as a prime example. Aside from strictly commercial outcomes, professionals can now employ AI to identify and address how a particular product adoption model needs to deploy. That includes informing targeted decision-making processes, allocating resources, and much more.
Since AI-powered algorithms can near-instantly analyze data, improvements come far more quickly. That's true both in the United States and worldwide. Think of it this way - it took Meta almost 5 years to have 100 million+ + users; it took ChatGPT 4 months. That's the delta of product adoption we are dealing with. You don't have years anymore to make the right calls; it's down to months. AI is integral to having an effective strategy.
Meanwhile, whether in medicine or elsewhere, AI is increasingly critical for efficiently and effectively aggregating and documenting myriad well- and lesser-known data types. As it becomes a more integral part of sectors ranging from medicine to manufacturing, it becomes a fundamental tool in the arsenal of those responsible for handling data. Data is the new oil that will power the future.
In the right hands, AI is a powerful tool in almost any industry. However, it's arguably the most valuable for more data-focused businesses and organizations.
Are any other fields central to technology-based outcomes seeing similar growth to AI?
Absolutely. That's because technology-based outcomes are heavily data-driven, and data is pivotal to almost all modern businesses and organizations. Whether in the form of strictly commercial models or elsewhere, just a handful of examples might include fintech and mobile technology or biomechanics, entertainment, and logistics.
Meanwhile, AI has also opened the door for other technologies to break through. Machine learning is a great example. Neither AI ,nor machine learning as a concept are strictly new technologies. Their applicability in a working model is what has changed.
However, AI has seen explosive growth in recognition and implementation in recent years. At the same time, machine learning has enjoyed a similar trajectory in implementation and usage but less so in recognition.
How can machine learning benefit technology-based outcomes?
In the same manner that AI benefits technology-based outcomes, machine learning leans into many of the same advantageous selling points. Crucially, AI and machine learning complement each other perfectly, strengthening one another in the areas where they may have potential weaknesses.
With that said, quantum computing, when ready, will really upend everything - if you thought AI was having an impact now, quantum computing will be the equivalent of going from steam power to nuclear energy.
What's next for AI within technology-based outcomes?
We remain on the edge of transformational change as AI technology evolves at an unprecedented rate. As the technology continues to develop, it'll benefit almost every field where it's already employed, and in newer and even more impressive ways - with a caveat that as with any sharp tool a certain amount of caution and care in use is needed.
Regarding technology-based outcomes, we can expect to see more drastic changes. Coupled with other adjacent technologies, it's likely that technology-based outcome-focused processes will become faster, cheaper, and more readily available. An example of this is MS CoPilot Studio - now just about anyone and any organization can create their own AI models effortlessly - something that was not that easy even just 2 years ago. The future is indeed something to behold.
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