The State of AI in 2023

Hello there 👋 

Welcome to ATMA AI newsletter where we’ll discuss Artificial Intelligence, Data Analytics and Machine Learning. You can trust us to be your no-BS friend on AI and stuffs.

In today’s article we will be talking about:

📖 Introduction to AI and Data Analytics

📰 Summary of the latest annual McKinsey Global Survey

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📖 Introduction to AI and Data Analytics

Lets take a look at some of the terms and definition in the field of AI and analytics 🧑‍🏫 

• Artificial Intelligence (AI): a broad discipline with the goal of teaching machines to think and learn similar to how human do. imagine computer that can play a game, recognising a face or even chatting with you - without guide or instruction - all by themselves!

• Machine Learning (ML): a subset of AI that often uses statistical techniques to give machines the ability to "learn" from data without being explicitly given the instructions for how to do so. for example we show a computer picture of trees and telling them “this is a tree”. over time, the computer will be able to distinguish between a tree and other objects.

• Data science: Data science combines math and statistics, specialised programming, advanced analytics, artificial intelligence and machine learning with specific subject matter expertise to uncover actionable insights hidden in an organisations data. It's about collecting clues (data) from various sources, digging deep into these clues to find patterns or stories, and then presenting these discoveries in an easy-to-understand way.

• Data analytics: think of it like a detective. it is about looking at information (can be table, graphs or charts) to find patterns or trends which will be helpful for an organisation to make better data-driven decision.

📰 Summary of the latest annual McKinsey Global Survey

On the first of August, 2023, the consulting giant McKinsey lifted the veil on the AI landscape, zeroing in on the buzzworthy realm of generative AI. They weren't just peeking in; they were digging deep, gauging how the business bigwigs and everyday Janes and Joes have been riding the wave of progress since last year. Now, you could totally dive into that report yourself, but hey, let's keep it friendly and informal. As someone who's pretty jazzed about AI myself, I've done the legwork for you. Let me break down the juicy bits of that survey, serving you the highlights on a silver platter.

• Widespread Adoption of Generative AI: Within just a year of the introduction of generative AI tools, one in three surveyed organizations has integrated them into at least one of their business functions.

• AI is No Longer Just for Techies: The domain of AI, especially generative AI, has moved beyond the tech department. Close to 25% of top-level executives are now using generative AI tools in their work. Furthermore, over a quarter of AI-employing companies have discussions about generative AI at board meetings.

• Investment in AI is on the Rise: Four out of ten organisations plan to boost their AI investments, propelled by the advancements in generative AI.

• Risk Management is a Challenge: The rapid growth of generative AI has brought its own set of challenges. Less than half of the surveyed entities are addressing the primary risk associated with AI: inaccuracy.

• Early Adopters Reap the Benefits: Organizations that were quick to embrace traditional AI are now leading the way in exploring the offerings of generative AI. These pioneers, termed "AI high performers", are setting the pace for the adoption of these new tools.

• Significant Impact on the Workforce: The integration of generative AI is expected to reshape the professional landscape. Survey participants anticipate certain job roles becoming redundant, necessitating extensive reskilling to meet the evolving demands of the industry.

Introducing to you ATMA-AI 🎪 

We're an AI Automation agency committed to guiding businesses and organisation in integrating AI into their operations, be it for enhancing productivity or boosting results. From crafting tailored chatbots and streamlining lead generation processes to designing unique AI personas, we're here for you every step of the way. 🌟

We recognize that terms like AI, machine learning, and data science can seem daunting to many. But don't worry! Our experts will help you navigate your data, providing insights and devising strategies that will harness its power for your company's advantage.

Head over to our website atma-ai.com for more information. Again, thank you for subscribing and now back to the newsletter 🙂

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this post might be a bit late but it has all the news and interesting development in the space of AI

starting your journey in AI? Paul compiled all the free courses from Google, do check them out!

that is all for today edition folks - hope to see you in the next article. take care and stay safe! 👋