One of the best parts of being Forrester’s CEO is that I have hundreds of analysts who help me understand new technology. So I thought I would share the wealth and pass on some of that knowledge to my fellow CEOs. I will be putting out a post about every quarter focusing on a technology that has three characteristics: 1) in the news; 2) frequently misunderstood; and 3) CEOs should understand it. First stop … artificial intelligence.
What Is AI?
It’s using computers to detect patterns and make predictions. Example: using a software program to identify which of your customers are not going to renew.
Today’s AI is decidedly unsexy — it’s not about killer robots, computers curing cancer, or runaway autonomous vehicles. If the AI application your company is building might show up in a Hollywood movie or amaze a layperson, it is likely doomed to failure and will be a titanic waste of time and money. True applications are quietly valuable, modest, and they won’t impress your mother.