Last week enjoyed an excellent panel discussion at Nordic Digital Business Summit with Alexander Khaytin from Yandex Data Factory, Ville Hulkko from Silo.AI and Olli Ventä from VTT. I have been on numerous panels but this one was one of the most enjoyable ones as the discussion was about where we stand with Artificial Intelligence and where are we headed. Couple of points that are worth sharing:
- There is a lot of AI hype. Everyone agreed on that. In some ways it is good as the topic rises to consciousness of a lot of people. But mostly it just raises expectations that are difficult to meet. It was agreed that there needs to be a real representation of what is possible and what is not with AI. Especially considering that we have had several AI winters in the past.
- Who is buying AI products. In large companies this today is mostly the Business Development Manager, Innovation Officer or a strategic Product Manager. These people are the visionaries within their companies and are looking for new and beneficial solutions. Target them.
- AI apocalypse. We did a poll in the audience and for the next 15 years no one thought there will be an AI dominated world. So we’re good 🙂 Mostly the understanding was that instead of worrying about what ifs in the next 30 years we need to focus on the current problems and how we tackle those.
- AND MY FAVOURITE TAKEAWAY – there are three important elements that are needed for a successful AI product offering. 1) There needs to be data available. Without data there is not much AI can do. 2) There needs to be enough money to be made or saved with the solution. If you cannot attach a monetary value to your solution then the solution is a nice-to-have thing. 3) There problem needs to be complex enough that simple solutions on the market already today cannot solve it.