Getting Paid before doing the work? Banks and financial institutions are ready to pay top dollars for A.I. But Physicians are thinking a little different!
This week two things struck my interest. I invited a young entrepreneur on my Youtube channel for our preliminary conversation.
He is working on a next generation natural language processing ( NLP) that audits corporate documentation.
Banks and financial institutions are so eager to get the technology that paid in advance.! Before he made the product.
Once more we see this equation where in regulated industries A.I. is a perfect fit to reduce regulatory risk at an affordable cost.
Given that the processes today are manual, as long as A.I. can match the precision of the manual process and can do the job in less time, customers are ready to adopt and pay for it.
You may easily think that the same happens in another regulated industry: Health care particularly in the areas of diagnostics and telemedicine.
Well a recent article, I was just reading, asserts that physicians are unhappy with A.I. for the following reasons : .
1) Too many false negative extend time necessary to perform diagnostic ( exactly the opposite of what the AI goal is)
2) Too many false alerts from telemedicine
3) Physician workflow disruptions
4) Non digitized medical records limit applications
5) Algorithms do not generalize so applications are too narrow
6) Continuing Learning is not really always feasible
At the end of the day, in medicine missing the diagnosis of one single cancer is too risky. Therefore the current A.I. solutions must be tuned in a way that could make them non convenient to use.
You can see how two seemingly similar applications have substantial different outcomes.
This is what I have been telling you, to understand how to extract business value from A.I. in a product or a process you need to get at least the science, the tech and the system design right.
Else a quick and simplistic approach is likely to generate the wrong business outcome.
This is why we created the A.I. product and process innovation course, to help you gain the basic understanding in designing products and processes. This course will
a) Provide you with a unified technical and business approach
- b) give you the scientific basis of A.I. in just 6-10 hours of effort
c) the ability to get immersed in real use cases that will prepare you to make the correct technical and business trade offs.
You see how pervasive A.I. is going to be. In 2018 the healthcare A.I. sector received $14.6B in investments. Within a few weeks I have shown you applications in at least 10 different industries. But applications are much wider.
A.I. is something solid that produces indisputable business outcomes but, it requires competences. Especially in the realm of solving business problems.
The moment is now. Take an action today.
PS : Lots going on in Conversations In Artificial Intelligence, subscribe on Youtube