Forbes June 30, 2024
The annual Stanford AI Index is out for 2024. This massive report is full of fascinating insights about the AI industry worldwide. Here we cover 5 takeaways for businesses looking to increase return on investment (ROI) with AI.
Takeaway 1: AI Better at Some Tasks, Not Others
AI performance has outstripped humans in tasks like image recognition and text comprehension. However, more complex tasks, such as common sense reasoning and advanced mathematical reasoning, are still beyond AI. Interestingly, what we consider “common sense” is still extremely hard for AI.
Takeaway 2: Decreasing Costs and Increasing Revenues
A 2023 McKinsey report revealed that 42% of the organizations surveyed reported cost reductions via AI use, and 59% reported revenue increases. The percentage...
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