As we wrap up a busy 2018, here’s our look ahead at the top five trends for the business of AI:
1) AI as a Service. From the title alone, it’s easy to recognize that buying a small piece of AI functionality is far easier to implement than hiring and building an in-house AI team. While AI capabilities are needed to stay competitive, the in-house solution is fraught with difficulty. Far easier to buy point solutions. Here at GLYNT, we offer Data Extraction as a Service. None of our customers have an in-house AI team, but they get the advantage of ours.
2) AI Must Have Superior Performance. There is a lot of wow when first deploying AI; when it works, it works so well! But many AI solutions have 65 – 85% accuracy rates. That’s ok for movie recommendations, as no one is harmed and the algorithm will improve over time. But for certain applications, such as in accounting or healthcare, 100% accuracy is required. The cost of an error is high – without performance superior to current solutions, there is no AI adoption. GLYNT’s machine learning is averaging 98% accuracy, and our verification tools raise that to a delivered 99.5% accuracy rate. The markets we serve demand it.
3) Scalability. AI promises to be better, faster, cheaper, but who is setting it up? How will it adapt over time? Who is closing performance gaps? All too often, a team of humans is needed to build and maintain an operating AI system. And the role of humans prevents the broad expansion needed to leverage the AI investment. The AI system has to be designed for scalability. We’re delighted that GLYNT checks this box as a completely self-contained elastic system. Process 200 documents or 200,000 in the same easy way.
4) Path to Easy Adoption. AI can be very powerful, but ultimately it faces the same challenge as other software: Great products are easy to adopt. Great technology that is hard to use fails in the market. There is no shortcut for AI as a service, it faces the same market tests as any other software product. GLYNT is designed to slot into existing document workflows and keep things simple.
5) The 24/7 Pace of Digital Transformation Will Continue. Have you noticed there was no December slowdown this year? Sharing notes with other companies in the digital enterprise transformation space, we found that everyone has just kept going throughout the month. We expect this continue in 2019, as companies relentlessly drive to increase efficiencies.
From all of us at GLYNT, we want to wish you a very happy holiday season and a fantastic 2019!
Look for our product updates in January. We’ll be launching an online self-serve version of GLYNT in the form of AI as a Service. Data extraction has never been easier!