This article was based on the interview with Alice Fournier, CIO of ISS Americas by Greg Kihlström for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:
AI relies heavily on good data in order to function effectively and provide accurate results. Without good data, AI algorithms will struggle to make accurate predictions or decisions. This is because AI algorithms are trained on large datasets to learn patterns and make predictions based on those patterns. If the data used to train the AI is incomplete, biased, or of poor quality, then the AI will not be able to make accurate predictions.
The importance of good data in AI can be seen in both the upstream and downstream processes. In the upstream process, organizations need to carefully curate and clean the data that will be used to train the AI algorithms. This involves identifying the right data sets, asking the right questions, and ensuring that the data is accurate and representative. If the data used to train the AI is flawed or biased, then the AI will learn those flaws and biases, leading to inaccurate predictions or decisions.
In the downstream process, organizations need to critically evaluate the output of the AI algorithms and assess the risks associated with the decisions made based on that output. If the decision has high risks, such as impacting people’s lives or making significant business decisions, then organizations need to put more distance and ask bigger questions of the AI’s output. This involves challenging the outcome, looking back at the data, and ensuring that the AI’s predictions or decisions are reliable and trustworthy.
The reliance on good data in AI also poses challenges for organizations. Many organizations struggle with cleaning and curating their data, as it can be a complex and time-consuming process. Additionally, AI can expose the challenges and flaws in an organization’s data, which can lead to more problems if not addressed properly.
However, despite the challenges, the importance of good data in AI cannot be overstated. Without good data, AI algorithms will not be able to provide accurate predictions or decisions. It is crucial for organizations to invest in data quality and data management processes to ensure that the data used to train AI algorithms is accurate, representative, and unbiased.
In conclusion, AI relies on good data to function effectively and provide accurate results. The quality of the data used to train AI algorithms is crucial in determining the reliability and trustworthiness of the AI’s predictions or decisions. Organizations need to focus on curating and cleaning their data to ensure its accuracy and representativeness. Additionally, organizations need to critically evaluate the output of AI algorithms, especially for high-risk decisions, and ask bigger questions to ensure the reliability and trustworthiness of the AI’s predictions or decisions. Despite the challenges, investing in good data is essential for harnessing the full potential of AI and creating a better future for organizations and individuals.
