Don’t make these mistakes when investing in AI May 12th

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Don’t make these mistakes when investing in AIPresented by CIBC 
Photo: Stocksy
It’s easy to see why businesses would want to experiment with artificial intelligence: it can help identify pain points in a company’s workflow, leading to more efficient supply chains or internal processes, which saves time and money. It also allows workers to offload low-value tasks, such as data entry or the cross-checking of transactions or contracts, giving them time to focus on more creative or higher value work. AI can even accelerate new product development, which may lead to new revenue streams.
In fact, according to a 2017 research study by Accenture, it “could boost average profitability rates by 38% and lead to an economic increase of $14 trillion (USD) by 2035,” particularly in the information and communication, manufacturing and financial services sectors.
“AI is allowing us to move faster, opening the door to insights and capabilities that are simply beyond what we were able to do in the past,” says Terry Hickey, Chief Analytics Officer at CIBC…

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