A comprehensive overview of the challenges and potential of machine intelligence in the business world.
According to debut author and data scientist Kaldero, the first industrial revolution, in the late 18th and early 19th centuries, hinged on steam power and locomotives; the second harnessed electricity; and the third drew in the power of the internet. The era that he calls the Fourth Industrial Revolution—the subject of this book—will see the rise of artificial intelligence, or “AI.” Kaldero’s aim in these densely packed chapters is to demystify the dawning “Machine Intelligence Revolution” and data-related terminology. Specifically, he aims to make these elements more accessible to readers in the business world, many of whom may be intimidated by leading-edge tech. Throughout this book, Kaldero stresses how better analysis of larger amounts of customer data can increase a company’s return on investment, or “ROI”: “Your business is in danger if you’re afraid of machine intelligence, because you’re not making data-driven decisions.” Kaldero traces these principles through specific case studies; for instance, in a banking model, one can use AI to more efficiently and quickly analyze more factors when deciding whether to extend credit to a customer, and thus “identify creditworthy customers among those currently rejected.” In an e-commerce model, he asserts, one can better analyze customer-engagement data to increase profits. The bulk of the book is dedicated to providing an overview of six basic principles to help organizations harness information in new ways; they address how one may devise an overall data strategy, and how one can streamline and accelerate how data gets broken down into useful bits (“speed to insight”). The overall picture that Kaldero paints has an air of inevitability about it, as he lays out carefully modulated steps to bring data science into existing business models, and many businesspeople will find his book to be invaluable.
A sharp, plainspoken guide for businesses facing the brave new world of the Fourth Industrial Revolution.