There is a tremendous rush to adopt AI in organizations. Todd Rissel, e2Value CEO, explains why the first step is to make sure that the data is good quality. The old adage “Garbage in, garbage out” still applies. If the data is incomplete, inaccurate or otherwise flawed, the AI results will reflect those defects.
With good data AI can provide an organization with the ability to make faster decisions, automate their processes, and analyze patterns more quickly that humans can. However, if the data input is not good quality, the analysis that AI provides may include unreliable results.
Rissel provides an example of an insurance company’s commercial property portfolio where the Statement of Values lacked basic information. The dataset must be improved in order to provide the best analysis of their business properties.
Leaders need to understand what they know, what they do not know, and where the weaknesses exist.
For the full article in International Business Times, go to Why Business Leaders Should Stop Asking About AI Strategy and Start Asking About Data Quality First.