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AI is Eating the World: Opportunities and Challenges

AI is Eating the World: Opportunities and Challenges

Artificial Intelligence (AI) is one of the most transformative technologies of our time. It is set to revolutionize industries, reshape economies, and redefine human capabilities. As advancements occur at a rapid pace, its potential is truly boundless. However, as we venture further into AI, we face many opportunities and challenges that will influence innovation and adoption. 
 
This article—the second in a three-part series on AI—explores AI’s potential, its challenges, and Fresche’s strategies for success. You can read the first article here.

The Potential of AI 

The potential of AI is nothing short of extraordinary. It can automate tasks, optimize processes, and unlock insights from vast troves of data. Yet, amidst all the potential applications for AI, the scope of AI’s transformative power is beyond our current comprehension.  

As a result, organizations face a myriad of choices. Should they build AI solutions from scratch, invest in available technologies, or refine off-the-shelf models? Each option has considerations, such as cost, legal implications, and reputational risks. The abundance of choices presents a paradox, demanding careful navigation. 

Fresche implements a prospecting strategy. We dispatch our experts to evaluate value propositions across various problem domains, with a focus on AI’s ability to handle large volumes of data.  For example, in a recent Java transition project from Maven to Gradle, AI coached our experts through the process at an accelerated pace.  

While AI demonstrates remarkable strengths, it is essential to approach its application cautiously.

Challenges on the Horizon 

AI’s effectiveness is limited by its inability to address problems it cannot recognize. For example, if a set of code requires elements not explicitly stated in the problem statement, AI will not recognize the need to include them. Consider a city design where the presence of a power station is crucial for system functionality but may not be evident in the initial design specifications.  

Additionally, AI-generated outputs may appear correct at first glance but, upon closer inspection, may reveal details requiring further refinement. Nonetheless, even with these limitations, AI can still provide significant value by solving a substantial portion of a problem, leaving humans to address the remaining 20 percent. 

Scalability poses yet another critical challenge. Solutions that work effectively on a small scale may encounter difficulties when scaled up to larger volumes. The inherent uncertainties introduced by AI’s contextual limitations necessitate careful consideration of problem domains. Moreover, AI’s ability to solve problems heavily depends on data availability and quality. AI may struggle to deliver meaningful results in domains where data is scarce or unreliable.

Strategies for Success 

To navigate the AI landscape, organizations should adopt a strategic approach that balances innovation with pragmatism and the ability to pivot strategies when needed. For instance, while Fresche initially relied on Llama models in the open-source model space, we’ve transitioned to Mistral models, which are better suited to our needs. Similarly, we’re exploring various closed-source models, like ChatGPT-4, Gemini, and Claude, to adapt our strategies as new solutions emerge. 

Another strategy is called “chunking.” This strategy leverages AI solutions where applicable and utilizes traditional approaches for other aspects. In cases where AI models fall short due to domain-specific knowledge gaps, we supplement their skills through fine-tuning. With our extensive expertise in legacy systems like IBM i, RPG, and Synon, we can enhance AI models to address niche technologies better and extract maximum value from our resources. 

Look Ahead

As we stand on the cusp of a new era defined by AI, the opportunities are immense, but so too are the challenges. Organizations can unlock AI’s full potential and navigate the landscape’s complexities with a strategic approach that balances innovation with pragmatism. With a strategic plan, thoughtful execution, and a willingness to adapt, the possibilities are limitless.

 

 

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