History teaches us that there were two large AI Winters in the past. One starting in the mid 1970s and another in the late 1980's There were very clear reasons for the last two AI Winters, but most of the technical and cost issues are gone. The wild card is how humans accept AI this time around. My bet is against another brutal winter. This does not mean there won't be cold snaps, but a 15-20 year freeze out doesn't seem likely now.
The First AI Winter:
It was caused by a couple of major factors. The first and foremost was the lack of computer power. The examples that were put forward were "toy" solutions that really did not appeal to the investors at all. This set off a period of infighting about Natural Language Processing (NLP) in the AI community which scared off the investors for a long time.
The Second AI Winter:
Businesses from across the globe - both large enterprises and small and medium businesses - want to improve their operations and advance. This is where technology is crucial. Data science and analytics is changing the way we do marketing and has given us many new opportunities for profit, growth and so on.
Big data analytics is enabling enterprises to do many tasks in real time and with ease. This rapid digitalization has given companies many new opportunities and choices.
Global revenues in big data and business analytics has increased from $130 billion to more than $203 billion in the future.
Big data science and analytics include statistics, math and many other mechanisms which enable companies to analyze data and get valuable information from it. The amount of data is increasing with each day.
Editors Note: DBizInstitute is excited to share this article, written by Dr. Setrag Khoshafian, with our community and in advance of his new book release. Keep an eye on our website as we share additional articles in the coming months written by Setrag, as well as a pending Meet the Author webcast to discuss his new book 'How to Alleviate Digital Transformation Debt’ expected to air Fall 2021. This article was originally published on CognitiveWorld.com in 2017.
Editors Note: DBizInstitute is excited to share this article, written by Dr. Setrag Khoshafian, with our community and in advance of his new book release. Keep an eye on our website as we share additional articles in the coming months written by Setrag, as well as a pending Meet the Author webcast to discuss his new book 'How to Alleviate Digital Transformation Debt' expected to air Fall 2021. This article was originally published on CognitiveWorld.com in 2017.
In the previous article “Integrated Business Management in the Process Age”, I discussed the concepts that will shape businesses in the Process Age. In this article I will discuss how process-oriented concepts and systems engineering practices can be used in a process-oriented engineering methodology.
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In the previous article “Integrated Business Management in the Process Age”, I discussed the concepts that will shape businesses in the Process Age. In this article I will discuss how process-oriented concepts and systems engineering practices can be used in a process-oriented engineering methodology.
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