Book Image

Creators of Intelligence

By : Dr. Alex Antic
Book Image

Creators of Intelligence

By: Dr. Alex Antic

Overview of this book

A Gartner prediction in 2018 led to numerous articles stating that "85% of AI and machine learning projects fail to deliver.” Although it's unclear whether a mass extinction event occurred for AI implementations at the end of 2022, the question remains: how can I ensure that my project delivers value and doesn't become a statistic? The demand for data scientists has only grown since 2015, when they were dubbed the new “rock stars” of business. But how can you become a data science rock star? As a new senior data leader, how can you build and manage a productive team? And what is the path to becoming a chief data officer? Creators of Intelligence is a collection of in-depth, one-on-one interviews where Dr. Alex Antic, a recognized data science leader, explores the answers to these questions and more with some of the world's leading data science leaders and CDOs. Interviews with: Cortnie Abercrombie, Edward Santow, Kshira Saagar, Charles Martin, Petar Veličković, Kathleen Maley, Kirk Borne, Nikolaj Van Omme, Jason Tamara Widjaja, Jon Whittle, Althea Davis, Igor Halperin, Christina Stathopoulos, Angshuman Ghosh, Maria Milosavljevic, Dr. Meri Rosich, Dat Tran, and Stephane Doyen.
Table of Contents (23 chapters)
1
Chapter 1: Introducing the Creators of Intelligence

Planning for successful AI

AA: When it comes to organizations applying AI, we often hear in the media that failure rates of 85% are common. If we take that statistic as a fact, would you say that the same failure rates apply to finance?

IH: I think that the 80% failure rate is probably a more universal number that goes beyond data science and the financial industry. I would estimate that that’s probably correct for any new project in science, and in business too. From my personal experience, I know that about 80% of ideas that I have had at different points in time went wrong.

Also, if you look at the success rate of technology start-ups, it’s probably even less than 20%. Even more than 80% of them fail in the end, and the ways to fail can be many. There was once a show on TV called 1,000 Ways to Die, which was a kind of horror show recreating all sorts of stories about how people accidentally died. It may not be quite that grave, but there are still many ways...