AI experts at CognitionX and Peltarion release new report on where the value in Deep Learning (DL) lies, and where the trend for Deep Learning is moving, based on insight across industries from AI thought-leaders in Europe.
Peltarion, leading AI innovator and creator of an operational deep learning platform, and AI Knowledge Network CognitionX, organiser of the CogX festival of AI and emerging technology, today released a new study based on research and interviews with other AI industry leaders across Europe such as Amazon, Google, DeepMind, and JP Morgan. The report, “Deep Learning: Opportunities and Best Practice”, provides insight that deep learning is overtaking more classic Machine learning methods. However, several challenges remain; cost, complexity, and skills are yet to be solved to enable market growth.
The study is intended to serve as a primer for those with shallow knowledge about deep learning, and a guide for those with more experience. The report gives an understanding about deep learning, where its moving, and best practices from the field. Tabitha Goldstaub, Co-Founder of CognitionX comments “At a time when so many organisations are debating the risks and rewards of using AI, I’m thrilled to see this report give some practical guidance to businesses on where deep learning can be applied, along with options on how to deliver this technology and some pointers on where the technique will go in the future. This is a good starting point for business leaders who are thinking about adopting AI.”
The report shares a brief history of AI in general and deep learning more specifically. It includes case stories of real-world applications from different verticals. Among them, you will find stories about:
- Pattern-recognition in healthcare diagnostics
- Real-time prediction of fraudulent transactions
- Automation of complex tasks in manufacturing workflows
Still, a few challenges need to be solved for deep learning to meet its full potential. The report states “As with any large-scale IT project, deep learning projects often fail due to factors such as complexity, failure to clearly define requirements and lack of proper communication between business and technical teams.” And these challenges get even worse when tools are expensive and complex to use, if your data is not in order, and if you lack talent in your team. According to report contributor, Scott Penberthy, Director of Applied AI at Google: “We believe there are about 10,000 people in the world who really understand deep learning. There are about 100,000 deep learning practitioners and a million data scientists.”
Deep learning expert Luka Crnkovic-Friis, Co-Founder and CEO of Peltarion, argues that for deep learning to reach its full potential, it needs to be operationalised: “AI and deep learning will save millions of lives and improve the lives of billions. The technology will fundamentally impact health, food production, energy, business and creativity. But if the true potential of AI and deep learning is going to be reached, it needs to be practically accessible by innovators across the world – the many, not just the few. One of the suggested routes to making deep learning more accessible is via a platform model, which simplifies and automates many tasks and provides the capability for managing the end-to-end DL workflow in one place, with an easier transition to running these models in live production environments.”
The full report can be accessed here.
CognitionX was founded in 2015 with the mission of bringing clarity to AI across organisations around the world. CognitionX aims to accelerate the adoption of AI, and help ensure a safe and responsible transition to an AI-driven society. CognitionX has a unique network of AI experts, who share invaluable expertise with organisations of any size, sector or location. CognitionX organises CogX, the annual Festival of AI, Blockchain and Emerging Technologies. The third annual CogX at King’s Cross in June 2019 was the largest to date, bringing together over 680 speakers and 20,000 visitors across 12 stages. https://cognitionx.com/
Peltarion is a leading AI innovator with offices in Stockholm and London. The first platform “Synapse” was released in 2004, and since then, Peltarion has helped companies and organizations like NASA, Tesla, Dell and Harvard to benefit from AI. The vision for Peltarion is to make AI accessible and affordable to more people, and creating a platform where people can work with AI without needing the skills of a data scientist, is a step towards this vision. Among the Peltarion customers, you will find doctors fighting cancer, carmakers optimizing battery power, curators identifying moods in music, farmers keeping their crops secure. And the opportunities to do more expand every day. www.peltarion.com