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How Artificial Intelligence Can Level The Playing Field For Mid-Market Companies Posted on : Sep 20 - 2019

As a young child, I used to imagine what life would be like if I had a chauffeur to drive me wherever and whenever I wanted. Of course, this was a luxury afforded by only the wealthy and remained well out of reach for most people — myself included. Fast forward to today, and the rise of the ride-sharing economy has essentially leveled the playing field, giving everyone affordable access to on-demand transportation.

Access to artificial intelligence (AI) is poised to undergo a similar shift. Traditionally, large corporations and government entities have been ahead of the adoption curve because they’ve had the capital to invest in and the talent to leverage the technology. It is estimated that Google alone has acquired nearly $4 billion worth of AI startups, followed closely by heavyweights Amazon, Apple, Intel and Microsoft, among others. Likewise, experienced data scientists continue to be in short supply. According to the job site Indeed, job postings for these roles have risen 256% since 2013, with six-figure salaries being the norm.

It’s no surprise, then, that companies in the mid-market have been slower to adopt AI. To date, the technology has been cost prohibitive and as a result, accessible to only those at the highest echelons of economic power and influence. But mid-market companies are a major driver of the U.S. economy. Not only do they employ 40 million Americans, according to the World Economic Forum, they are also responsible for approximately one-third of the U.S. GDP.

Mid-market companies must have the tools to compete effectively in the global economy, so it’s vital for technology companies to help them harness the power of AI. To make this a reality, AI must be “Uberized” so that data — and the potential that it can deliver — is accessible to those beyond the ivory towers and billion-dollar corporations.

Thankfully, the democratization of AI is already underway. We know that to reap the benefits of AI, you need data science. But with advancements in AI technology, there are already a few solutions in the market where you no longer need to be a data scientist to gain valuable insights from AI.

In progressive organizations across the country, business users are being increasingly empowered to collect, analyze and interpret data to make data-driven decisions. Customer service teams and marketing directors alike can now access volumes of structured and unstructured data in a format that makes sense to them — allowing them to justify the costs associated with manufacturing a new product, simplify a specific process for customers or uncover a pain point they didn’t know existed. View More