An Update on AI in the Market Today [Video]

Adam and I had another quick chat recently to discuss something that everyone in the tech and business world is talking about: AI.

While AI is certainly a buzz word being used liberally throughout the marketplace (like ‘metrics’ or ‘KPIs’), we believe it’s worth taking a legitimate look and discussing what’s happening, who’s leading the charge, and where it’s important to be aware. Listen in.

 

What’s Happening

One of Adam’s number one jobs today in leading Two Roads is to test new software and look into ‘AI’ developments to see if it’s something that we can utilize to make our work more efficient or affordable for our clients.

Companies like Amazon and IBM are spending lots of advertising dollars on AI, so it’s tempting for guys in Silicon Valley to start up a website like grocery.ai and pitch to investors because they are just throwing money at anyone who says ‘AI’.

There are some good products out there. Not a lot. Predictive analysis is probably the best way to describe artificial intelligence as it is today – Deep logarithms that can cross-cut the web and your data and put together information to present back to you, like Expensify and Receipt-Bank.

Another one that we’ve seen is Voicea.com, which listens in on your Zoom call, picks up when you say something like ‘I need to follow up with you on that’ and then sends you a text reminder. It’s hearing something, making a decision on it, and sending information back.

Who’s Leading the Charge

Google’s definitely doing some cool stuff. They even have an entire division dedicated to AI research. If I had to choose, I’d put my money on Google.

IBM’s ‘Watson’ claims its difference this way: “Powered by the latest innovations in machine learning, Watson is the open, multicloud platform that lets you automate the AI lifecycle. Build powerful models from scratch, or speed time-to-value with pre-built enterprise apps.”

Intuit has their own vision for AI and machine learning which will certainly have an impact on our industry. We’re constantly keeping our finger on the pulse so that we’re testing and utilizing new technologies as they hit the market.

Be Aware

It’s important to know that there is a ton of “AI” out there today that is actually being augmented with people off-shore.

The world is flat and it’s very easy today to have folks abroad working on data aspects of software and call it “AI”. That’s really off-shoring. Still a cheap and efficient way to get work done, but not true AI.

Thanks for taking the time to join us for this discussion! We’d love to hear of any AI research, services, software or breakthroughs you’ve learned about. Feel free to share in the comments below.

At Two Roads, we have the privilege of doing bookkeeping for hundreds of small business owners who are leaders in their industry. We’d love to talk with you about your vision for your business and how we can help you achieve your goals. Learn more about our services, give us a call at (865) 212-0063, or schedule a call.

 

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