Exclusive: Businesses must adopt AI or face becoming extinct, say leading University professors

Posted: 7 April 2017 | By Darcie Thompson-Fields

Businesses will soon face a battle for survival if they continue to ignore the benefits that artificial intelligence products and services can provide.

The surprise claim was made during a series of exclusive interviews conducted by Access AI with some of the industry’s leading market analysts and university professors – which are featured in full in our latest business report.

With more than 1,600 companies now actively selling AI based products and services (900 based in the US alone), and investment from businesses in AI forecast to rise 300% year on year, the opportunities have never been greater, or more important.

According to Roman Yampolskiy, who is associate professor at the department of Computer Engineering and Computer Science at the Speed School of Engineering, University of Louisville – those that are yet to think about implementing AI, may already be at a significant disadvantage to their competitors.

“If a business is just starting to think about AI now, it is already many years behind its competitors,” Yampolskiy told Access AI.

“I don’t think it’s [AI] is over-hyped. If anything, most people underestimate the capabilities of technology and its exponential growth. We never had as much computing power, as much money, as much data and as much interest as we have today.”

His views were echoed by Bart Selman, a professor of computer science at Cornell University, who also believes it’s now vital for businesses in all industries to start exploring the opportunities AI can provide. These include, but not limited to, boosting sales opportunities, driving staff efficiencies and improving customer service.

“It would be too simplistic to assume any job can be replace [by AI],” said Selman. There will be industries that will be impacted much less than others.

“In most companies, there should be at least someone looking at what AI could do within their own industry.”

To read all interviews in full and to learn more about the impact and benefits of AI, please view our free AI report, which can be viewed here.

Related functions

Related organisations