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AI is Beating the Hype With Stunning Growth
Follow the money. It is true in politics, business, and investing.
Gartner, a global IT research and advisory company, surveyed 3,000 CIOs operating in 89 countries in January. The Stamford, Conn., firm found that AI implementations grew 37% during 2018, and 270% over the last four years.
This is a trend investors should embrace. That’s because it is going to last for a while. And it’s going to make a lot of people very rich.
Investors have soured on AI recently. Self-driving cars, smart cities, and robotics keep getting smacked down as idealistic hype. That’s mostly because their implementations are decades away … or that these ideas are expensive solutions looking for problems.
So say the critics, anyway.
They point to once-high-flying stocks like Nvidia, which just saw its share price get cut in half because of slowing demand for cutting-edge gear and software.
However, that assessment is lazy. It also misses the point.
AI is a digital transformation story. Corporate managers realize AI software can help automate large parts of the enterprise, increasing productivity and saving a boatload of money.
It is true that machines will not be able to wholly replace complex human decision-making anytime soon. But the software is more than sufficient to processes mundane, repetitive tasks. And machine learning, a type of data science, can help humans see important patterns they might otherwise miss.
So companies are going all-in.
They are deploying software bots online, along with customer-relationship software to help service reps assist customers.
Executives are using integrated suites and data analytics to manage projects, workflows, payrolls and human resources.