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Tom Davenport
Tom Davenport co-founder of the International Institute for Analytics and author of “The AI Advantage: How to Put the Artificial Intelligence Revolution to Work” said companies that have been most successful in using AI to their advantage are taking smaller steps, rather than embarking on large-scale projects.
“In general, I believe that these less ambitious AI projects are more likely to be successful than the really dramatic moonshots,” Davenport said. “AI does small things very well, it doesn’t do big tasks nearly as well.”
Davenport spoke about the current state of AI’s use in business at an event hosted by the Hartford-based Travelers Institute, the public policy and educational arm of property-casualty insurer Travelers Cos. At the event, which also featured Travelers Executive Vice President and Chief Technology and Operations Officer Mojgan Lefebvre, Davenport differentiated useful AI business applications from high-tech hype.
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