Can AI really be worth $15.4 TRILLION?
This post has been viewed 3,472 times.
McKinsey reported that total potential “annual value of AI and analytics across industries to be be worth $9.5 to $15.4 trillion” in its report entitled “The executive’s AI playbook” which includes 3 different perspectives:
Value & Assess – Size the opportunity and determine data needs
Execute – Learn best practices to realize value
Beware – Know the warning signed of AI program failure
The 3rd perspective to Beware includes 10 “warning signs of AI program failure” which are part of the May 2018 report “Ten red flags signaling your analytics program will fail” which includes #10 that “No one is hyperfocused on identifying potential ethical, social, and regulatory implications of analytics initiatives”:
It is important to be able to anticipate how digital use cases will acquire and consume data and to understand whether there are any compromises to the regulatory requirements or any ethical issues.
One large industrial manufacturer ran afoul of regulators when it developed an algorithm to predict absenteeism. The company meant well; it sought to understand the correlation between job conditions and absenteeism so it could rethink the work processes that were apt to lead to injuries or illnesses. Unfortunately, the algorithms were able to cluster employees based on their ethnicity, region, and gender, even though such data fields were switched off, and it flagged correlations between race and absenteeism.
Read original articleTags:
