From customer conversions based on your marketing efforts to the price points of your services across your company’s history, a business’ operations naturally produce data.
So Much Data, So Little Time
All of this data contains valuable insights, of course, but discovering those insights for yourself is a massive undertaking.
And, since your business just keeps on producing this insight-laden information, your data will start to feel like a pile of homework on your desk that just keeps getting higher and higher with every passing day, hour, and even minute.
A.I. Is the Solution for Effectively Making Use of Data
When you choose to link it with an A.I. platform, then suddenly you will realize that your company’s data was not a pile of “to-do” work, but rather a goldmine.
To see this, you are going to need to understand what A.I. really does.
A.I. and Data: An Example
What ChatGPT needs to generate text is data, and quite a bit of it.
In this case, the data would be all of the writings that OpenAI, the developers of ChatGPT, trained ChatGPT on.
Without it, the chatbot would be unable to create sonnets about unicorns or do the homework of lazy high schoolers.
Dependent on Data
In other words, A.I. would be useless without data.
Why is this? Because A.I.’s entire job is to analyze “input” data and create an “output” based on its analysis.
During the training phase, A.I. is given loads of input to make sense of. Outputs are basically proof of how well the A.I. understood the input data. With a chatbot, the training phases’ input is writing that the A.I. is meant to analyze for the sake of learning what words do and do not go together, which is basically the foundation of all the sophisticated-sounding rules relating to grammar and vocabulary.
In the chatbot example, the “input” is the prompt that you give the chatbot. The “output” is the answer that the chatbot gives. Here is one instance of this:
Input (A User’s Question): Are there walruses on the moon?
Output (ChatGPT’s Answer): As of my last update in September 2021, there were no known walruses or any other animals on the moon. The moon is an airless and harsh environment, lacking the necessary resources to support life as we know it. It is a barren, rocky world with extreme temperature fluctuations and no atmosphere, making it inhospitable for any form of life, including walruses.
Your Business’ Input Data Will Yield Great Outputs from A.I.
Basically, A.I. is a data-analysis machine. Whenever you see A.I. do anything extraordinary, that is because it had access to high-quality data, and was a sophisticated enough algorithm to effectively analyze it.
To return to the gold mine image, your business’ data is pretty much a valuable pile of input data that is ready to be used by A.I. algorithms that can offer all manner of solutions for you.
Make Sure Your Business Has Quality Data
“Garbage in, garbage out” is the unofficial motto for A.I.-driven data analysis.
A.I. is strong at data analysis, but it is not a miracle worker.
If there are inaccuracies in your data, then there will likely be inaccuracies in the output.
The chatbot example can yet again prove illustrious here: Imagine if you had trained a chatbot exclusively on conspiracy theory writings about how walruses live on the moon and also how the moon is indeed made out of cheese.
Here, then would be the output in response to an input prompt asking for a description for the day of a life of a walrus that lives on the cheese-moon:
When hunger strikes, Wally the walrus seeks out the most coveted part of the moon: the cheese craters. These deep, bowl-shaped craters are filled with a variety of cheeses, from Swiss and cheddar to gouda and brie. Wally’s favorite is the blue cheese crater, where the tangy flavors burst in his mouth like a fireworks display. He uses his powerful tusks to chip away at the cheesy surface, savoring each delectable bite.
Do you understand, then, why your business’ success in A.I. depends on the quality of data?
A.I. Solutions for Your Business
From predicting customer churn to monitoring manufacturing equipment, there is a wide variety of uses that A.I. can be put to once it has quality data.
A.I. has applications in every industry. Interested in learning how A.I. can make use of your data to transform your business? GO AI today.
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