Innovation Vista CEO on AI, Data, and Moore’s Law

Here’s a thought experiment. Take a (very) large bag of dollar coins and put one coin on the ground. Repeat this and stretch out a line of coins. Repeat this until you have a path of coins that stretches 27 times around the Earth. That’s about $407 billion… the amount the AI ​​market is expected to be worth by 2027.

This is an interesting piece of data presented in a carefully structured prompt using ChatGPT. This author’s experience shows how useful AI can be (especially for people who have trouble with arithmetic), but this usefulness pales in comparison to the business applications of AI.

AI is revolutionizing business. According to a Forbes Advisor study, 64% of companies expect AI to increase productivity, and companies from startups to megacorporations are adopting AI at an astonishing rate.

AI has the potential to revolutionize the way businesses process data, delivering lightning-fast insights that can help them gain a competitive advantage. However, AI can only deliver a high ROI if the data it uses is handled correctly.

Exploring Data/AI Synergies

One person who has built a successful business on the foundation of an integrated data and AI strategy is Jeff Roberts, founder and CEO of Innovation Vista.

Roberts is a born leader who has proven adept at leading companies that need practical advice on how to leverage AI.

Roberts is not only passionate about AI, but he has also identified a common organizational shortcoming when it comes to leveraging the relationship between AI and big data. It’s a symbiotic relationship, and for many companies, integrating AI and data strategy is a real challenge.

“Developing an AI strategy in isolation is a very bad idea. The data strategy needs to work closely with the AI ​​strategy. This allows for a more holistic view of the organization’s goals and ensures that AI and data initiatives are aligned with the broader goals of the company.

“By treating these strategies as symbiotic, an organization can ensure that data analytics delivers value and enables the business to capitalize on the opportunities that both data and AI create.”

Developing this type of integrated strategy can be difficult for startups and smaller organizations, according to Roberts.

“Data is the fuel for AI models, and much of our advice to clients is about what can and can’t be achieved given the quality of their data. We also focus on how much it will cost to generate valuable results for the organization.

“Often, our guidance involves improving the data itself to drive ROI. For startups or longtime C-Suite executives, the quality of their data and how to improve it are often areas they have never fully explored.

“An integrated approach to developing a data and AI strategy can help an organization prioritize initiatives and allocate resources effectively. The challenge that startups and small business owners face is the investment. Many of these organizations cannot afford the ongoing costs of retaining an experienced, full-time CIO.”

Plugging the gap

As organizations discover the potential of AI to rapidly deliver valuable business insights, a lack of expertise in areas traditionally covered by the CIO could have significant negative consequences.

The consequences of not having an experienced leader to help develop an AI and data strategy can be devastating. At worst, it can mean wasting valuable financial resources (especially harmful for startups), and at worst, an organization will have to deal with serious data security issues when planning and implementing AI. These challenges are part of the reason Innovation Vista has been able to grow so consistently since its founding in 2019.

The results of Roberts and his team’s intervention speak volumes about the success of his business plan and the need for experienced data/AI consultants. Innovation Vista quickly capitalized on that demand. Since its founding in 2019, the company has contributed more than $2.4 billion in client revenue and cost savings.

New paradigm

According to Roberts Innovation, Vista brings an outcomes-focused approach to AI implementation that is new to the emerging field of AI consulting.

“We took a long look at corporate AI strategy and realized that in many cases, organizational leaders were seduced by the hype around AI. The technology is not a simple, off-the-shelf solution that will magically solve all the challenges an organization faces.

“It is crucial to assess the ROI and relevance of AI to each specific business situation. Recent advances in licensed AI platforms, along with cost-effective hyperscale cloud infrastructure, provide significant opportunities. However, the ability to apply AI to a problem does not always mean it is the right choice. Our distinct advantage lies in our expertise and strategic approach to prioritizing AI initiatives.”

Small and midsize businesses are eager to seek greater engagement with C-level IT consultants at Innovation Vista. Roberts attributes this demand to a strategy that prioritizes not only efficiency but also focuses on monetizing IT, increasing revenue, expanding market share and providing customers with a competitive advantage.

Future-proofing

In 1965, Intel co-founder Gordon E. Moore noticed that the number of transistors on an integrated circuit had doubled between 1960 and 1965. Based on this, he predicted that the number of components on a chip would reach 65,000 by 1975. In 1975, he revised this prediction, stating that the number of components on a chip would double every two years. Moore’s Law is not hard science, but it is a prediction that has stood the test of time.

Roberts compares Moore’s Law to the evolution of AI and the risks this rapid evolution poses to companies implementing an AI and data strategy.

“We tell clients that we can’t predict beyond the medium term; no one really can. The evolution of AI is happening so quickly that you have to focus on the here and now, and not get distracted by what will be possible in five years.”

Roberts often faces the challenge of explaining to clients the reality of the current AI ecosystem, including how rapidly AI is evolving, how that impacts their data strategy, and which AI solutions best fit their needs.

Roberts describes the Innovation Vista approach as triage: tackling the most pressing problems first, using available tools.

“Gazing into a crystal ball is rarely satisfying when you’re faced with a technology as groundbreaking as AI. I don’t think Moore could have imagined the processing power we have on our phones, let alone what today’s supercomputers can achieve.

“The key to developing the right AI and data strategy is ensuring that a company has the right people in place to ensure that any AI solution can deliver a strong return on investment and that it meets the unique needs of the company in today’s competitive environment.”

Learn why Jeff Roberts is considered a leading authority on AI strategy by visiting his website Visit LinkedIn, explore the Innovation Vista website, or discover unique insights into the rapidly changing landscape of AI in business on the Innovation Vista YouTube channel.