Implementing AI can be costly for smaller businesses; Kortical aims to bring this technology to smaller organisations.
Artificial intelligence or AI is big news in business, but AI is still a growing technology and there are not enough talented data scientists to deliver all the projects that currently exist, never mind develop the projects of the future. Tech talent in this area tends to go to the businesses that have deep enough pockets to attract the best, but does that mean that other organisations have to miss out?
“AI is not a bubble, it’s a technology that is delivering real value today.”
Not according to Andy Gray and Dr Alex Allan, co-founders of Kortical, a business that helps bring AI to the masses. “We saw the opportunity to create a platform that could help people that were not AI experts to be able to create AI models as well as let expert data scientists take on more projects with a tool that would increase their productivity,” says Mr Gray.
AI’s applications are many and varied, whether in simple chatbots or complex systems managing robotics. From basic automation, to free time for busy employees to powerful intelligence that can perform tasks faster than teams of people, businesses around the world are experimenting with how AI can help them do more, faster, and cheaper, than ever before.
“AI is not a bubble,” says Dr Allan. “It’s a technology that is delivering real value today. The consultancy McKinsey says that companies adopting AI can see profit margins increase by 15pc, and the research business Forrester says that 25pc of jobs will be impacted by AI in the next 12 months, so you can see that it’s a massive opportunity.”
“One day, AI will be just as familiar as a spreadsheet.”
While the challenges around AI – what it is, what it can do and who can develop it – have made investing in it a concern for businesses, Kortical has worked to bring those opportunities to the widest possible market. The company has grown out of the development of “The Kore” an AI platform designed to help non-experts automate time-consuming tasks easily. “A lot of people see AI as a black-box solution, and there’s always an element of suspicion around such approaches to a problem,” says Dr Allan. “The Kore opens up the black box and explains why it made that prediction, which builds trust and insight. It also handles the deployment within the platform – which makes it easier and faster to embed AI in your business.”
The vision for the future of the business is to be at the vanguard of unknown territories: “Think about how ubiquitous a spreadsheet is today,” says Dr Allan. “One day, AI will be just as familiar. And that day is not far off.
“Virtual assistants will be the norm, voice recognition will improve and most companies will have an AI strategy and tools to help them in delivering for their customer.
“Computers can be trained to learn and that will give businesses a competitive advantage. In five, or 10 years’ time, the landscape will be completely different, because we’ve never before had this capacity to understand the world around us.”
For more information, visit kortical.com