Entering a Golden Age with Artificial Intelligence
When it comes to competition, you have to find your way of specifying, adapting and overcoming. Like a Darwin’s finch, find your niche and prosper.
The report “Artificial Intelligence: Entering A Golden Age For Data Science” by Cowen and Company shows the approach of technology vendors to use artificial intelligence for the development of enterprises and specifically for data processes. One of these vendors is Arago, „that has identified a core area for the commercialization of its HIRO product as it aims to help traditional enterprises become AI-enabled.“ However, Arago’s general AI HIRO has to compete with strong competitors like Google, Amazon, Baidu, and other big players, as the analysts state. But the advantage is that HIRO can work in a wide variety of different areas of business.
Like in many businesses, it is important to make the first step well considered. The analysts argue: „Arago wisely targets its initial point of enterprise penetration in the technology department. By doing so it gets the IT gatekeeper on board early, paving an easier route to expansion and implementation into other business process areas for faster adoption of new technology.“
HIRO is not a fixed structure, yet it is „developed to continuously improve via a knowledge core or a centralized semantic data-pool. Clients retain the ownership and control of their data, but established companies’ data is organized semantically and sharably for the benefit of all customers“, the analysts say. This constant self-improvement leads to an increasing efficiency, „boasting 87% average automation across the IT stack (calculated for the specific area they are automating – tickets/events/etc.).“
As a result, the analysts state HIRO is not only fast, but also efficient. „Importantly, the portability of knowledge within HIRO sharply outperforms point solutions of other AI companies, with 80% reusability between different environments within organizations and 33% across different organizations.“
There is still a lot to learn and to develop. However, HIRO made a big step to enable enterprises to work smart in a digitalized environment. We are at an exciting moment of transformation in our daily business life and AI is one of the key drivers.