How AI Could Empower Any Business | Andrew Ng | TED
Science & Technology
Introduction
A few hundred years ago, the rise of literacy transformed society, allowing more individuals to read and write. Historically, many believed not everyone needed this skill; those engaged in feudal tasks or shepherding often relied on high priests, priestesses, and monks to interpret the holy texts. This arrangement worked well for a time, but as we've learned, enabling widespread literacy leads to a richer, more engaged society.
Today, we find ourselves in a similar moment with artificial intelligence (AI). Currently, AI technology remains concentrated among highly skilled engineers working in major tech companies. Most people only utilize AI systems built for them, akin to how the average person once relied on priests for their spiritual teachings. However, there is immense potential for empowering more individuals to "write the future" with AI by making it accessible to everyone.
The Concentration of AI in Big Tech
The major players in AI today are large tech firms that can afford the substantial costs of developing AI systems. Many of these projects require extensive funding and teams of talented engineers. These companies benefit from a massive user base, allowing them to create broad-reaching AI applications that yield significant revenue, such as improved web searches and product recommendations.
In non-tech sectors, however, the same formula does not apply. Businesses outside the internet landscape rarely have projects capable of serving millions of users or generating comparable economic returns. Here’s a practical example: think of a local pizza store owner. While he generates valuable sales data, he typically cannot justify the cost of hiring a dedicated AI team to analyze it.
Across the United States, there are about half a million independent restaurants, each with unique characteristics. A one-size-fits-all AI solution won't cater to these individual differences, leading to what’s known as the “long tail problem” of AI. While some AI projects might have high market value, there are thousands of unique untapped opportunities in small to medium-sized enterprises.
Custom AI Opportunities
Imagine a t-shirt company using AI for demand forecasting or a local store manager optimizing product placement with AI assistance. These tasks seem mundane but could significantly enhance sales and operational efficiency. Despite AI’s reliance on vast data sets, it can also function effectively with modest amounts of information, such as that generated by a single small business.
Yet, the issues arise not from a lack of data, but rather from the prohibitive costs of developing custom AI solutions. Small businesses often lack the means to invest in a team of AI specialists. However, the recent emergence of user-friendly AI development platforms shifts this narrative. Just as the pen and paper replaced stone tablets, these platforms allow users to input data without extensive coding knowledge.
For instance, a fabric inspector could take pictures of various fabric defects and upload them to an AI platform. They could draw boxes around areas of concern, providing the AI with the necessary context to learn and improve its defect detection capabilities, requiring just a few hours or days to build a custom AI that is directly relevant to their work.
A Future of Democratized AI
The vision is clear: empower more individuals—store managers, accountants, and quality inspectors—by enabling them to build their own AI systems without relying solely on tech giants. If a pizza store owner, or any small business owner, can access affordable, easy-to-use AI technology, they could harness it to create substantial value in their operations.
The democratization of AI will generate new opportunities and economic benefits, ensuring wealth is distributed more evenly across society. Just as widespread literacy transformed the social landscape hundreds of years ago, democratizing AI access has the potential to create similar impactful changes today.
As we move toward an era where everyone can create AI systems tailored to their needs, we anticipate an exciting future filled with innovation and empowerment.
Keywords
- AI empowerment
- Democratization of AI
- Small business
- Custom AI solutions
- Long tail problem
- User-friendly platforms
- Demand forecasting
- Economic benefits
FAQ
Q: What is the long tail problem in AI?
A: The long tail problem refers to the abundance of unique, smaller-scale AI projects that lack the economic justification for development, unlike high-value applications typically found in tech firms.
Q: How can small businesses utilize AI?
A: Small businesses can utilize AI through emerging user-friendly AI platforms that allow them to input data for customization, enabling them to solve specific operational challenges without the need for extensive coding or specialized teams.
Q: Why is democratizing access to AI important?
A: Democratizing access to AI is crucial as it empowers individuals across various sectors to build tailored AI solutions, leading to innovation, increased efficiency, and more equitable distribution of economic benefits.
Q: Can AI work with modest amounts of data?
A: Yes, AI can often function effectively with modest datasets, allowing smaller businesses, such as local pizzerias, to derive insights and improve operations without needing large-scale data initiatives.
