Radical Reads

A Playbook for AI Profits

By Adithya Sreekumar, Investor


Photo Source: Harvard Business Review 

Enterprise AI adoption is paying off for those who use it wisely. McKinsey’s Global Survey on AI reports that 22% of respondents attributed more than 5% of their organizations’ enterprise-wide profits to the use of AI.

AI software vendors – including enterprises helping to design, build, integrate, maintain, and iterate other company’s AI technology stacks effectively – are an under-discussed and essential resource for businesses to seize the benefits of this technology. These vendors can help companies that have yet to see business gains from investments in AI avoid common missteps when it comes to deploying solutions. With this in mind, customer success playbooks for deploying AI software need to include:

  • Adequate training of the customer’s staff (including management and employees) to better understand AI and its use within the company;
  • Hands-on support during implementation to ensure AI is embedded into the customer’s updated processes and systems and harnessed to its full potential;
  • A process for monitoring and reporting on software usage to provide timely feedback to the customer;
  • Feedback to product teams to enable continuous improvements in UX/UI through no-code features and improved visualization and collaboration tools allowing non-data experts to better communicate with data science teams.

It is only a matter of time before nearly every business reaps the benefits of AI. Vendors who can help businesses profit from AI have an opportunity to accelerate the technology’s adoption across the economy.

AI News This Week

  • Experts examine China’s pioneering draft algorithm regulations   (DigiChina)

    Last week, the Cyberspace Administration of China (CAC) released pioneering new draft regulations on algorithmic recommendation systems in online services translated in full by Stanford’s DigiChina. The draft primarily echoes common themes, ensuring algorithms comply with the law and providers keep user data secure and monitor their systems. More specifically, Article 8 prohibits apps from engrossing or addicting users, potentially impacting companies like Douyin, TikTok’s Chinese counterpart. On paper, these regulations give China the world’s most substantial data protection regime. Just as in the digital asset and cryptocurrency space, China is indicating that regulatory lag will not happen in the Chinese data and AI algorithm space.

  • Seasonal Arctic sea ice forecasting with probabilistic deep learning  (Nature)

    The Arctic sea ice is melting at a rate far faster than almost all climate models predicted. IceNet, an AI predictive tool for sea ice loss, is almost 95% accurate in predicting whether sea ice will be present two months ahead – better than the leading physics-based model. In the future, a daily version of the model could run publicly in real-time, just like weather forecasts, acting as an early warning system for risks associated with rapid sea ice loss.

  • 90% of Gen Z now using apps with interactive live video  (VentureBeat)

    From TikTok to Twitch, real-time-engagement technology (RTE) enables digital experiences that are interactive and collaborative on live video, audio, and extended reality (AR or VR). Machine learning underpins this technology to manage the routing of voice and video so that streams are clear and sharp. Low bandwidth allocation has in part enabled the global spread of these interactive live video apps. Users in troubled network environments or emerging markets can now make use of live voice and video.

  • Rise of the robo-drama: Young Vic creates new play using AI   (The Guardian)

    In a new collaboration between human and computer minds, “AI” is part research and part play directed and developed in real-time using deep learning. Part of the experience is watching Director Jennifer Tang collaborate with the AI system and a company of writers and actors. In using AI, the team is helping us better understand foundation models and want the viewers to ask what the AI’s suggestions reveal about humanity.

  • Artist uses AI to create realistic portraits of famous historical figure  (My Modern Met)

    Have you ever wondered what famous historical figures like Nefertiti and Cleopatra looked like in real life? A Dutch photographer and digital artist is creating AI portraits of famous historical figures using neural network reconstructions.

Radical Reads is edited by Leah Morris (Senior Director, Velocity Program, Radical Ventures).