Contributor: Paul Berkovic, Co-Founder and CCO, Rayven
With AI Month officially starting this week, businesses, policymakers and technologists have the opportunity to reflect on Australia's strides in leveraging AI across sectors and identify the immense potential the technology can bring.
While the benefits AI technology can bring are boundless, proper governance and expertise is required at all stages, from development to implementation to application, to ensure the responsible use of this rapidly evolving technology.
In light of the occasion, we engaged industry leaders from different fields to offer their unique insights on the current state of AI and their visions for the future, covering the cultural, ethical, regulatory and security dimensions that must be prioritised when exploring AI's potential and capabilities.
Paul Berkovic, Co-Founder and CCO at Rayven
It's exciting to think about the capabilities and potential of AI, but it's a pipe dream if we don't address the hurdles most businesses are facing today. The reality is that a great deal of what is purported to be AI is really machine learning, and very few businesses even know where to start with that, with even fewer understanding what's holistically possible.
Meanwhile, real-time data is very doable today, though many businesses are yet to embrace its full capabilities outside of cybersecurity and ecommerce spaces. Establishing, collating and analysing complete, real-time data sets can deliver a business with a multitude of benefits; from streamlining data flows and delivering automations, improving employees' decision-making via live analytics, increasing operational output using predictive analytics, improving energy and other resource efficiency via all-new insights; the bottom-line and productivity opportunities are vast.
To ensure businesses are making the most of AI, start with capitalising on the capabilities and benefits of real-time data. Only once reliable and free-flowing real-time data is made accessible within a business can AI's full potential truly be explored.
If you'd like to find out more about how the Rayven Platform can help you to conquer these challenges, fast - all without having to change or update your current technologies - please book a demo and get some free, custom advice from one of our experts.
This article was featured on Channel Life here on 16-Oct-24.