Lec 07-Transforming Marketing Strategy using AI-I

00:31:20
https://www.youtube.com/watch?v=0V3PstbZowg

Summary

TLDRThe video is part of a NPTEL course focused on leveraging artificial intelligence in developing marketing strategies. Specifically, it discusses module 7, which initiates a series of modules on transforming marketing strategies through AI. The module details the IDEAS framework, encompassing five elements: intelligence, data, expertise, architecture, and strategy. These elements are critical in transforming marketing and business strategies by leveraging AI’s capabilities. The module explores the field of AI, discussing its innovative integration into marketing through examples like Obeta's use of robo-pickers in warehouses and McDonald’s data-driven strategies. It highlights how AI complements human efforts, enhancing job roles and creating efficiencies. Challenges with AI, particularly deep learning, are also addressed. These include understanding causality and transparency issues known as the black box problem. Discussions extend to AI's potential in recognizing human emotions, improving human-machine interactions, and promoting high-value job creation. Lastly, foundational aspects of integrating data into businesses using AI are covered, illustrating how McDonald’s transformation into a data-driven entity aided in competitiveness. Modern data foundations are required, involving data engineering, AI-assisted governance, and democratization for effective use and integration of AI-driven strategies.

Takeaways

  • 🧠 IDEAS framework includes intelligence, data, expertise, architecture, and strategy.
  • 🤖 AI enhances marketing strategies by complementing human tasks.
  • 📦 Obeta uses AI for efficient warehouse operations with robo-pickers.
  • 🔍 Challenges exist in AI, such as deep learning's capacity issues.
  • 🗂️ Data democratization is key in modern organizations for AI usage.
  • ⚡ McDonald's boosts sales with data-driven approaches via AI.
  • 💡 AI enables complex data task solutions beyond human capability.
  • 📈 Success through AI involves modern data engineering and governance.
  • 🎯 Human-machine collaboration optimizes business processes.
  • 🚗 AI's emotion tracking advances semi-autonomous vehicles.

Timeline

  • 00:00:00 - 00:05:00

    The introduction to module 7 of the NPTEL course focuses on developing marketing strategies using AI. It highlights the transition from understanding customer value in module 6 to leveraging AI for transforming marketing strategy across modules 7 to 11. This module specifically covers the IDEAS framework, outlining five technological elements: intelligence, data, expertise, architecture, and strategy, which together offer innovative value creation methods, transforming technology development and HR management. The emphasis is placed on meaningful rather than superficial technology implementation with insights on causality in AI solutions.

  • 00:05:00 - 00:10:00

    The discussion delves into human versus AI intelligence, emphasizing human cognitive abilities and intuitive physics in contrast to AI's prowess in data pattern recognition, efficient handling of vast datasets, customer service, image analysis, and fraud detection. The narrative underscores the complementary nature of combining human and AI capabilities, moving beyond a competition paradigm. The complexities of deep learning, particularly its data requirements, challenges in scalability, budget, and sustainability, are also discussed, along with the evolving human-like aspects of machine intelligence.

  • 00:10:00 - 00:15:00

    Deep learning's limitations highlight the need for incorporating human-like reasoning in AI for broader intelligence applications. Current AI struggles with meaningful image recognition and complex 'black box' issues, making consequential decisions difficult to explain or potentially harmful. The segment outlines AI's difficulty with applying causal understanding across domains versus its capacity to identify correlations. It accentuates the collaboration between humans and machines in creating significant job opportunities and outlines the industrial application of AI-driven systems exemplified by corporate cases like Obeta.

  • 00:15:00 - 00:20:00

    The discussion on futuristic AI development showcases the continuous improvement in AI through algorithm gaming and Gaussian processes for probabilistic reasoning, aiming to mimic human reasoning. Examples from companies such as Zappos and GNS Healthcare display practical AI application in optimizing customer interactions and understanding medical responses. Challenges in achieving general AI capabilities include the correlation-versus-causation dilemma, model transparency, and intuitive reasoning, driving research and development in more generalized, accessible AI solutions.

  • 00:20:00 - 00:25:00

    Human-like machine intelligence is being explored through diverse AI disciplines, aiming for innovations in real-world settings and predictive capacity. The module explores applications like advanced search algorithms and agricultural robotics, emphasizing their transformative potential in various industries. Emphasis is placed on the enhanced Machine Learning models reducing computational costs in sectors like automotive and retail and the development of common-sense AI. The importance of affective computing in enhancing consumer interactions and enriching datasets is elaborated upon.

  • 00:25:00 - 00:31:20

    The essential role of data in AI strategies is discussed, describing how AI requires breaking traditional data silos for coherent and cloud-based data management. The transformation of companies like McDonald's through a data-driven approach, achieved by leveraging big data and integrating machine learning for tailored customer service, is highlighted. Key components for a modern data foundation include data engineering, AI-driven governance, and data democratization, ensuring data accessibility and integration. The summary concludes with insights into assembling inclusive data structures for broader business intelligence and agility.

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Mind Map

Video Q&A

  • What is the IDEAS framework?

    The IDEAS framework consists of five elements: intelligence, data, expertise, architecture, and strategy, aimed at transforming marketing strategies through AI.

  • What are some challenges of deep learning?

    Deep learning faces challenges such as capacity, affordability, and sustainability, along with a lack of causality understanding.

  • How can AI and machines complement human work?

    AI enables humans and machines to work together efficiently, creating new high-value jobs and making processes adaptive and human-centered.

  • What are the benefits of human-machine collaboration in smart robots?

    It increases reliability, speed, and allows human workers to be retrained for understanding robotics and computers more deeply.

  • What is the role of data in the IDEAS framework?

    Data plays a crucial role in transforming businesses by breaking traditional data silos and enabling a modern data foundation with data engineering, AI governance, and democratization.

  • What advancements are being made in AI for understanding human emotions?

    AI developments include tracking emotions, which are being utilized in semi-autonomous cars and media for predicting consumer reactions.

  • How does deep learning differ from traditional machine learning?

    Deep learning involves training on massive datasets and requires fine-tuning to become more human-like, whereas traditional machine learning involves more directed learning approaches.

  • What example is given regarding AI's role in a business setting?

    Obeta, a German electronics wholesaler, uses AI to train robo-pickers, enhancing reliability and processing in their warehouses.

  • How does AI handle complex data tasks better than humans?

    AI excels in pattern recognition, data processing, and running complex operations efficiently, showcasing superiority in specific tasks.

  • What is an example of AI's use in data-driven decision making?

    AI at McDonald's processes customer data for tailored decisions, adapting to external factors, thus boosting efficiency and financial success.

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  • 00:00:25
    Welcome to this NPTEL online certification course  on artificial intelligence and marketing. And now
  • 00:00:31
    we will talk about module 7. Now, as you can  see that we are we are talking about chapter 2,
  • 00:00:37
    that is how to go about developing marketing  strategies and plans using AI. In module 6,
  • 00:00:42
    we have talked about the customer value and  the role of artificial intelligence in the
  • 00:00:46
    value delivery process. Now this module 7 to  11, they are dedicated to understanding how
  • 00:00:53
    to transform marketing strategy with the help  of AI. So, this is chapter 2 and we are talking
  • 00:01:00
    about the transforming marketing strategy using  AI and which is part 1 and we are in module 7.
  • 00:01:08
    To have a overview of this module, we will start  with exploring the ideas framework and understand
  • 00:01:14
    five elements of technology landscape.  Then we will study the intelligence and
  • 00:01:18
    data landscape of ideas framework in detail.  Then we will understand different dimensions
  • 00:01:24
    of human and machine intelligence. After  that, we will study the trade-off between
  • 00:01:29
    applying human and machine intelligence to  solving marketing and business problems.
  • 00:01:35
    Thereafter, we will understand the shortcomings  of intelligent systems and the various kinds
  • 00:01:41
    of problems that come with them. And then we  will talk about exploring the building blocks
  • 00:01:46
    of the modern-day data foundation. So, now we  let us look at the ideas framework. So, these
  • 00:01:54
    the five elements of the technology landscape  are, one is intelligence, the second is data,
  • 00:02:02
    the third is expertise, the fourth is architecture  and the fifth is strategy and together they form
  • 00:02:09
    this ideas framework, IDEAS. Now, these elements  create opportunities for value creation and
  • 00:02:21
    distribution in innovative ways and change the  way business leaders can manage the procurement,
  • 00:02:28
    technology development, human resource  management and firm infrastructure.
  • 00:02:32
    So, these five elements will help the  leaders in in managing this these three,
  • 00:02:39
    fourth things. Technology implementations  for the sake of technology does not bring
  • 00:02:44
    the desired value for companies. So, it is  not it should not be just for the sake of the
  • 00:02:50
    technology. Technology based on deep learning  have little sense of causality space. So,
  • 00:02:57
    this causality means cause and  effect relationship. Space, time
  • 00:03:11
    or other fundamental concepts that human beings  effortlessly call on to move through the world.
  • 00:03:17
    Now, the first component of ideas framework is  intelligence. So, that is the first component of
  • 00:03:23
    ideas framework. Companies are now creating  applications and machines whose reasoning
  • 00:03:30
    ability is adaptable and savvy more like the  way human approaches a problem and the task. So,
  • 00:03:38
    it is more human-like. For example, new  generation of robots can generalize in real
  • 00:03:51
    world settings like warehouses manipulating  items without being told what to do.
  • 00:03:58
    Consider emotional AI which grew out of work with  autistic children to help them understand and
  • 00:04:06
    express their emotions. It is now evolving into  on board automobile AI that could be as effective
  • 00:04:14
    in saving motorist lives as seed welds by  leveraging the most powerful cognitive characters
  • 00:04:21
    of human that is awareness and adaptability. These  developments promise potentially more intelligent
  • 00:04:30
    solution to pressing commercial and social  challenges. Now, let us look at the intelligence
  • 00:04:35
    from the perspective of human versus machine.  So, we are talking about the human supremacy.
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    No machine powered by AI can yet match the ease  and efficiency with which even the youngest
  • 00:04:47
    human learn comprehend and contextualize.  Accidentally drop an object and a one year
  • 00:04:55
    old child who sees you reaching out  for it will retrieve it for you. So,
  • 00:05:00
    this is how one year old child will respond.  Now, throw it down on the purpose and the
  • 00:05:06
    child will ignore it. So, if it falls  then the child will pick it up for you.
  • 00:05:11
    If you throw it then the child  will ignore it. In other words,
  • 00:05:18
    even very small children understand that  other people have intentions. That is an
  • 00:05:24
    extraordinary cognitive ability that seems to  come almost pre-wired into the human brain. That
  • 00:05:31
    is not all. Beginning at a very young age,  they develop an intuitive sense of physics.
  • 00:05:37
    They begin expecting objects to move along smooth  paths. So, this is what a child expects. They
  • 00:05:45
    remain in existence, fall when unsupported and not  act at a distance. Now, where machine supremacy
  • 00:05:55
    comes in, yet AI can do many things that people,  despite being endowed with natural intelligence,
  • 00:06:02
    find impossible or difficult to do well. That is,  one is recognize patterns in vast amount of data.
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    So that defeats the greatest champion at chess, Go  and Jeopardy. Run complex manufacturing processes
  • 00:06:19
    efficiently and calls to customer service  centers. Run complex manufacturing processes
  • 00:06:26
    efficiently aid callers to customer service  centers. Analyze whether soil conditions,
  • 00:06:32
    satellite imagery to help farmers examine  crop yields. Scan millions of internet images.
  • 00:06:40
    In the fight against child exploitation, detect  financial fraud. Predict customer preferences,
  • 00:06:47
    personalize the advertising and much else. So,  this is where machines are superior to human. Now,
  • 00:06:54
    the middle ground between the fight of these  two, man and machine supremacy, automating
  • 00:07:00
    such task lies beyond not only the capabilities of  human, but also of traditional procedure logic and
  • 00:07:07
    programming. And most important, AI has enabled  humans and machines to complement each other.
  • 00:07:15
    So, it is not about man versus machine. It  is about how they can come together. So,
  • 00:07:36
    AI has enabled humans and machines to  complement each other, transforming
  • 00:07:40
    mechanistic processes into highly adaptive,  organic and human centered activities. The
  • 00:07:46
    next comes human like machine intelligence. A  2022 report by Accenture shows that more than
  • 00:07:53
    three-fourth of major companies currently  have deep learning initiatives underway.
  • 00:07:59
    Deep learning is a powerful subset of machine  learning. It works through neural networks
  • 00:08:05
    consisting of simple neuron like processing units  that collectively perform complex computations. AI
  • 00:08:13
    based on deep learning must be trained from the  bottom up on massive amounts of data and often
  • 00:08:20
    fine-tuned with additional data. So, deep learning  is trained from bottom up and massive amount of
  • 00:08:26
    data is required. But this data-hungry approach  is beginning to run into significant challenges.
  • 00:08:34
    Challenges of capacity, challenge  of affordability and the challenge
  • 00:08:39
    of sustainability. So, these are the three  challenges that this deep learning faces. So,
  • 00:08:48
    the three challenges that deep  learning faces are capacity,
  • 00:08:54
    affordability and sustainability. Meanwhile,  on the frontiers of research, the nature of
  • 00:09:07
    machine intelligence is taking radically  human turn, becoming less artificial and
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    more intelligent. Less like the autonomous vehicle  that has to be laboriously taught everything and
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    more like the human infant who comes equipped  with a remarkable efficient capacity to learn.
  • 00:09:30
    The quest for more human like AI after lying  dormant for decades have taken on a new life.
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    Impelled by the limits that current approaches  to intelligence are now running up against. For
  • 00:09:42
    senior leaders, navigating this dilemma begins  with an understanding of those limits. Now,
  • 00:09:50
    what is the trouble with intelligence? The  limit of the present deep learning-based
  • 00:09:55
    AI warrants a new approach to machine  intelligence which is more human like. So,
  • 00:10:01
    deep learning is more suitable  or suited to tackle for certain
  • 00:10:06
    narrowly defined problems and not as  a basis for more general intelligence.
  • 00:10:12
    So, this deep learning is not going to replace  general intelligence. Some key troubles with the
  • 00:10:20
    present-day AI are many AI systems are not all  that smart. AI image recognition was one of the
  • 00:10:28
    great AI success stories of recent years, but it  has been very easily confused by researchers. What
  • 00:10:35
    is at stake is not simply correctly classifying an  image but genuinely recognizing an object. As with
  • 00:10:42
    self-driving cars or delivering drones,  failure could have fatal consequences.
  • 00:10:49
    The next is, so that was one problem.  The next problem is complex systems
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    suffer from the black box problem.  AI systems are often used to help
  • 00:11:01
    make highly consequential decisions. Who  gets approved for a loan, who gets hired,
  • 00:11:07
    who wins payroll, who long, how long  a present sentence someone gets,
  • 00:11:14
    where and how a company ads are distributed on  social media and more. But many of these systems,
  • 00:11:21
    especially those that employ deep learning  are opaque, that is they are not transparent.
  • 00:11:32
    So, it is impossible to explain how these  deep learning algorithms working with
  • 00:11:38
    enormous amounts number of parameters and  many intricately interconnected layers of
  • 00:11:43
    abstraction reach their conclusion. And those  conclusions can sometimes be disastrous. So,
  • 00:11:51
    one is that we do not know how they have  reached that conclusion. And then that can
  • 00:12:07
    be sometimes disastrous. Resulting in racial  discrimination in loans and criminal justice,
  • 00:12:15
    respected brands whose ads on social media show up  next to neo-nausea content or conspiracy theories.
  • 00:12:24
    So, they lack fundamental  knowledge frameworks. So,
  • 00:12:28
    that is the third problem that they  lack fundamental knowledge frameworks.
  • 00:12:33
    Causation an essential component of common  sense. Much of the success of deep learning
  • 00:12:38
    has been driven by powerful ability to find  correlations. So, this is what we are looking
  • 00:12:45
    for such as that between a constellation  of symptoms and a particular disease.
  • 00:12:50
    But as we should all know by now correlation  is not causation. So, this correlation does
  • 00:12:56
    not mean cause and effect relationship. If machine  understood that one thing causes another then they
  • 00:13:11
    would not need to be retrained for each new task.  Instead, they should apply what they know in one
  • 00:13:18
    domain to the different domain. Now, let us talk  about the intelligence and human AI augmentation.
  • 00:13:26
    AI has enabled human and machine  to work together efficiently. And
  • 00:13:30
    such collaboration is creating an  array of new high value jobs. So,
  • 00:13:35
    now these humans and machines are coming together,  and they have created high value jobs. Now,
  • 00:13:42
    let us take a look at the case of Obeta a  German electronic wholesaler. At Obeta a
  • 00:13:47
    German electronic wholesaler whose warehouse is  run by Austrian warehouse logistic company NAP.
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    Human workers are teaching a new generation  of robo pickers how to handle different sized
  • 00:14:00
    and textured items. To train a robo NAP  workers put unfamiliar object in front of
  • 00:14:06
    it and see if it can successfully adapt  to them. When it fails it can update its
  • 00:14:13
    understanding of what it is seeing and try  different approaches. But when it succeeds
  • 00:14:19
    it gets a reward signal programmed  by humans to reinforce the learning.
  • 00:14:25
    Then a set of SKUs that is stock keeping  units differs totally from other sets.
  • 00:14:40
    The team reverts to supervised learning,  collecting and labeling a lot of new training
  • 00:14:45
    data as happens with deep learning systems.  NAP robo pickers are acquiring general purpose
  • 00:14:52
    abilities including 3D perception and an  understanding of how objects can be moved
  • 00:14:57
    and manipulated. In many cases the items have  not been pre-categorized, which is unusual
  • 00:15:04
    for industrial packaging systems. It means  that the robots are learning how to handle
  • 00:15:10
    them in real time. Now, this is a critical  skill to have when dealing with electronics
  • 00:15:17
    especially when you consider the different care  required to handle a light bulb and a stove.
  • 00:15:25
    What are the implications of using smart  robots? One is the increased reliability.
  • 00:15:33
    Previously NAP robo pickers reliably handled  only about 15% of the objects. The covariant
  • 00:15:39
    powered robots now reliably handle about 95%  of the objects. The second is the increased
  • 00:15:48
    speed. Robots are faster than humans, picking  about 600 objects an hour versus 450 for human.
  • 00:15:57
    The third is no layoff. Human workers instead  of losing their jobs have been retrained to
  • 00:16:05
    understand more about robotics and computers. Two,  we next discuss the future of intelligence. Now
  • 00:16:12
    let us look at the future of intelligence.  The authors of building machines that learn
  • 00:16:18
    and think like humans, a seminal piece on  the new direction in machine intelligence
  • 00:16:24
    state. As long as natural intelligence  remains the best example of intelligence,
  • 00:16:29
    we believe that the project of reverse  engineering, the human solution to
  • 00:16:33
    difficult computational problems will continue to  inform and advance the artificial intelligence.
  • 00:16:42
    The question of for senior leaders in which  more human like cognitive abilities detailed
  • 00:16:49
    next might be most relevant to capture value for  their businesses and delivering value to their
  • 00:16:54
    customers. So, the first is generalizing in real  world settings. While theoretical arguments rage
  • 00:17:02
    over deep learning versus some ideal versions of  artificial general intelligence as the means of
  • 00:17:08
    getting to more human like intelligence,  practitioners are not waiting. They are
  • 00:17:14
    drawing on all the disciplines of AI to open up  new possibilities for machine capabilities and
  • 00:17:21
    performance. For example, covariants are  looking to build out its brain to power
  • 00:17:26
    robots in manufacturing, agriculture, hospitality,  commercial kitchens and eventually people's homes.
  • 00:17:33
    The case of Alberta using smart robots  which we discussed is also an example of
  • 00:17:39
    this kind of applications. The next is the  survival of the fittest algorithm. For a
  • 00:17:45
    e-commerce seller like Zappos, irrelevant  search results are a perennial headache.
  • 00:17:55
    Because queries can now have multiple  different meanings to a website search
  • 00:18:00
    engine. Having accurate search results among  the enormous inventory can be very difficult.
  • 00:18:06
    So potential customers who enter such term  for a particular style of dress shoe who are
  • 00:18:12
    shown dresses instead will soon get fed  up and move on to the competitors. So,
  • 00:18:17
    the customer are asking for dress shoes and  the search engine is showing them dress so
  • 00:18:24
    they will soon be fed up and move on to  the competitors. To solve the problem,
  • 00:18:29
    Zappos is putting algorithm against each other in  a digital game of survival. A relevance text which
  • 00:18:37
    stimulates how users behave rewards the winning  algorithm by passing on its trait to the next
  • 00:18:43
    generation of algorithms. The best performing  algorithm goes live on the website until it
  • 00:18:49
    is superseded by a fitter one, continuously  improving the performance of the search engines.
  • 00:18:56
    Making better bets, so human routinely and often  effortlessly sort through probabilities and act
  • 00:19:03
    on the likeliest, even with relatively little  prior experience. Machines are now being taught
  • 00:19:11
    to mimic such reasoning through the application  of Gaussian processes that is probabilistic models
  • 00:19:17
    that can deal with extensive uncertainty, act on  space data and learn from experience. Example of
  • 00:19:25
    this is the project Loon by Alphabet that is the  Google's parent company. Then comes the closing in
  • 00:19:32
    on causation. AI is good at spotting correlations  and making valuable predictions based on them.
  • 00:19:39
    So that is what the problem with AI is.  For instance, GNS Healthcare, a Cambridge,
  • 00:19:48
    Massachusetts precision machine company uses  causal algorithms to help some of the world's
  • 00:19:54
    largest pharmaceutical companies understand  not only which patient responds to what drugs,
  • 00:20:00
    but also why do they respond. So  that is also important. So, what,
  • 00:20:06
    which patient will respond to what drug that  is one and why are they doing so. So that is
  • 00:20:11
    another important thing that it does so  what and why. Using Bayesian techniques,
  • 00:20:20
    this software platform translates data into  causal models, cause and effect models.
  • 00:20:26
    So this causal model is cause and effect  models. These techniques identify which
  • 00:20:34
    variables in a data set appears to have the  most influence on other variables. The next
  • 00:20:41
    comes taking on the time and space.  Researchers at the MIT IBM Watson AI
  • 00:20:46
    lab have recently developed a new technique for  training video recognition systems that is both
  • 00:20:53
    highly accurate and saves on computation  costs. The researchers were able to train
  • 00:20:58
    video recognition models three times faster  than existing state-of-the-art techniques.
  • 00:21:04
    So it has increased the efficiency of the  of the models. The increased speed could be
  • 00:21:12
    critical for the ability of autonomous vehicles  to recognize and react to visual information and
  • 00:21:18
    to predict what is likely to take place around  them. Retailers would benefit immensely from
  • 00:21:25
    such a video recognition technology. Next  comes calling on common sense. No AI system
  • 00:21:32
    currently deployed can reliably answer a  broad range of simple questions such as,
  • 00:21:37
    if I put my socks in a drawer, will  they still be there tomorrow? So that
  • 00:21:42
    is a simple question that the AI system  are not able to answer. How can you tell
  • 00:21:48
    if a milk carton is full? So, these are  some simple questions where the AI fails.
  • 00:21:54
    To help define what it means for machines to  have common sense, AI2 that is Allen Institute of
  • 00:22:01
    Artificial Intelligence is developing a portfolio  of tasks against which progress can be measured.
  • 00:22:08
    The Defence Advanced Research Project Agency,  DARPA, is investing $20 to $2 billion in AI
  • 00:22:17
    research. In its Common Machine Sense program,  researchers will create models that mimic core
  • 00:22:24
    domain of human cognition, including the domain  of objects that is intuitive physics, places,
  • 00:22:33
    spatial navigation and agents’ intentional  actors. So, this is what this machine common
  • 00:22:40
    sense program is trying to achieve. Researchers  at Microsoft and MacGill University have jointly
  • 00:22:46
    developed a system that has shown great promise  for untangling ambiguities in natural languages.
  • 00:22:53
    Untangling ambiguities in natural language,  a problem that requires diverse forms of
  • 00:22:57
    inference and knowledge. With such systems,  the goal is to produce both the right answer
  • 00:23:03
    and the rationale for the answer. It is not only  about the right answer but also the rationale for
  • 00:23:08
    that answer. Consider chatbots and voice digital  assistants, which often leaves users frustrated.
  • 00:23:16
    They would immensely benefit from these  advancements. Tracking of emotions. Affectiva,
  • 00:23:23
    a Boston startup founded in 2009 by  researchers from MIT framed Media
  • 00:23:29
    Lab and acquired in mid-2021 by Swedish  company SmartEye, is currently working
  • 00:23:35
    on an AI system designed to read emotions. So  now we are moving on to reading the emotions.
  • 00:23:42
    Affectiva algorithms read people faces to detect  their emotional and other cognitive states.
  • 00:23:49
    The technology is being used in  AI-assisted semi-autonomous cars. So,
  • 00:23:54
    we are not talking of only the autonomous car,  we are talking of semi-autonomous cars. The
  • 00:23:59
    company has also developed an emotion tracking  system that enables media and advertisers to
  • 00:24:06
    test responses to their programming and  video ads with the target audience. The
  • 00:24:12
    system is based on the analysis of more  than 7.6 million faces in 87 countries.
  • 00:24:18
    So this is the data set that is being used  for this kind of study. About one-fourth
  • 00:24:25
    of the Fortune Global 500 have used the  technology to test their ads around the
  • 00:24:30
    world and help them predict purchase  intent, sales lift or the likelihood
  • 00:24:37
    of content to go viral. The next component  of IDR's framework is data. Business data
  • 00:24:44
    is often locked in legacy on-site platforms  that are siloed, making it difficult if not
  • 00:24:51
    impossible for employees to get different  types of data to work together. Creating
  • 00:24:56
    a robust data foundation requires breaking  information out of traditional file silos.
  • 00:25:01
    So this is what is required. So that it  can be unified, one, optimally stored,
  • 00:25:09
    two and easily accessed three and readily  analyzed with new tools all in the cloud.
  • 00:25:17
    With a solid data foundation, more data from  more sources managed with the help of AI and
  • 00:25:23
    widely disseminated within an organization  can help in maximizing data potential. Now
  • 00:25:30
    let us look at the case of McDonald's. In  2018 McDonald was facing a major challenge.
  • 00:25:39
    Its competitors have used online delivery to  leapfrog its lock on the fast-food markets.
  • 00:25:45
    So the competitor were given online delivery  using online delivery for the competitors were
  • 00:25:50
    using online delivery. So, McDonald leaders  quickly devised an online delivery solution
  • 00:25:55
    through a global partnership with Uber Eats  that by 2019 was adding dollar 4 billion
  • 00:26:03
    to the annual sales. But top executives  knew that the company's long-term future
  • 00:26:09
    depends on making a rapid and complete  transformation to become data driven. So,
  • 00:26:14
    this kind of stopgap arrangement will not  last long and therefore something more
  • 00:26:26
    needs to be done and that is a complete  transformation to become data driven.
  • 00:26:31
    This required reconfiguring its restaurants  into enormous data processes complete with
  • 00:26:36
    machine learning and mobile technology to support  highly customized customer orders and delivery.
  • 00:26:43
    Data crunching also aids in calculating  how external factors from weather to big
  • 00:26:49
    sporting events would impact demand and  restaurants ability to serve customers.
  • 00:26:54
    So now you see that we are also looking  at the effect of external factors like
  • 00:26:59
    the change in weather or a big sporting  event and then predicting and forecasting
  • 00:27:05
    the restaurants’ ability to serve the  customer. And gathering and processing
  • 00:27:10
    data were important for developing new  products and initiatives that could be
  • 00:27:13
    immediately successful. Now implications of using  data driven approach is first is the financial
  • 00:27:19
    success. Within two years the transformation  effort successfully achieved financial results.
  • 00:27:26
    Few companies in the S&P 500 have outperformed  McDonald creating a modern data foundation. So,
  • 00:27:33
    mastering the use of big and small data  to generate value from AI requires that
  • 00:27:38
    organization lay a solid foundation and for that  three capabilities are key. First is modern data
  • 00:27:45
    engineering, second is AI assisted data governance  and the third is data democratization. So,
  • 00:27:53
    in modern data foundation data comes from a  variety of internal and external sources through a
  • 00:27:59
    number of organisms including batch and real time  processing and APIs. It get stitched together into
  • 00:28:07
    highly curated and reusable data sets that can  be consumed for a variety of analytic purposes.
  • 00:28:13
    A good foundation relies on reusable frameworks  for data ingestion and ETL that is extract,
  • 00:28:20
    transform and load that support diverse data  types. These frameworks also handle rules of
  • 00:28:27
    data quality and standardization so that  new data pipelines for analytic use cases
  • 00:28:33
    and data products can be developed quickly and at  scale on the cloud. AI assisted data governance,
  • 00:28:40
    cloud-based AI tools offer the  advanced capabilities and scale
  • 00:28:44
    to help automatically. Cleans, classify and  secure data gathered on the cloud as it is
  • 00:28:52
    ingested which supports better quality  data veracity and ethical handling.
  • 00:28:58
    Data democratization. A modern data foundation  gets more data into more hands. It makes data
  • 00:29:05
    accessible and easy to use in a timely manner  while enabling multiple ways to consume data
  • 00:29:11
    including self-service, AI, business intelligence  and data science. The latest cloud-based tools
  • 00:29:18
    democratize data and empower more people across  the enterprise to easily find and leverage data
  • 00:29:24
    that is relevant to their specific business needs  faster, create a modern data foundation. Together
  • 00:29:31
    these three capabilities help companies overcome  some of the most common barriers to value.
  • 00:29:36
    Data accessibility, data trustworthiness, data  readiness and data timeliness. So, these are
  • 00:29:43
    the four things. They enable companies to blend  data from big and small data sets together in
  • 00:29:52
    real time, build agile reporting and leverage AI  to create broadly accessible customers, markets
  • 00:30:01
    and operational insights that deliver meaningful  business outcomes. In order to conclude, we have
  • 00:30:07
    discussed the intelligence and data landscapes of  IDEA’s framework. There are many shortcomings of
  • 00:30:12
    deep learning-based AI. Machine intelligence is  now being augmented with human intelligence and
  • 00:30:18
    human have superior cognitive intelligence  and machines excels in pattern recognition.
  • 00:30:24
    We have also studied the implementation  of smart robot augmented with human
  • 00:30:28
    intelligence at Obeta helped them to increase  reliability and speed. Three key capabilities
  • 00:30:35
    are required to build a modern-day data  foundation. One is modern data engineering,
  • 00:30:40
    AI assisted data governance and the third  is data democratization. These are the five
  • 00:30:45
    books from which the material for  this module was taken. Thank you.
Tags
  • Artificial Intelligence
  • Marketing Strategies
  • IDEAS Framework
  • Human-Machine Collaboration
  • Data-Driven Decision Making
  • Deep Learning Challenges
  • Pattern Recognition
  • Smart Robots
  • Data Democratization
  • Emotion Tracking