Time is Now: A Journey Into Demystifying AI by Raj Verma

Author:Raj Verma [Verma, Raj]
Language: eng
Format: epub
Publisher: Forbes Books
Published: 2024-04-16T00:00:00+00:00

This, too, comes back to relevancy. How relevant and how recent the data is empowers a company to be more relevant itself. Speed is of the essence here. It’s no longer about the two-second advantage or the two-second disadvantage—we are now looking at the millisecond advantage.

For instance, sometimes an investor would come and ask us, “Why does it matter if someone pulls up a report from a database in a couple of seconds rather than milliseconds? Does it truly make that much of a difference?”

We would tell them, “It makes all the difference.” Then we would show them that behind every customer interaction, behind every web page refresh, there is a query for data. And since the data is being refreshed often, if you add a couple of seconds to every query in a day, you add on two thousand seconds of wait time for the customer. This is over half an hour of lost time every day.

Add this up every day over the course of weeks and months … and you begin to see the problem. Lost time. Lost efficiency. Lost resources. Lost customers. Irrelevancy.

Speed is not everything either, though. If you are the fastest on the track but run in the wrong direction, you don’t win the race. You become a laughingstock. This is the importance of insight. It allows you to take the right action in the right direction.

Artificial intelligence is the culmination of this journey. The advancements we see through data analysis and creating insight show this to be true. The one who creates insight the fastest wins.

Inaction is not an option. The individuals and companies who take no action will lose their identities, lose their relevance. The ones who do take action to become faster—to amplify their intelligence with the tools now available to us—will make the necessary identity shift to survive.

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