- Now that you have an idea of your company's needs,
let's go deeper into how to select
the right type of AI for your business.
There are many different types of AI systems and tools,
and choosing the right one is crucial for success.
For additional context, check out the course notes
for the core and generative AI landscape map.
But let's start with data requirements.
When you evaluate types of AI systems,
consider the following.
What formats of data do you need for your project?
What would be your input data?
What would be your desired output data?
Different types of AI models and applications
accept and generate different formats of data,
such as text or images.
How often will your data need to be refreshed?
Depending on your business objective,
data might need to be refreshed daily or weekly or monthly.
And for some applications such as medical diagnostics,
a continuous stream of realtime data might even be needed.
Next, what source of high-quality data do you have at scale?
It could be owned by you or coming through partnerships.
Remember that the focus should be on proprietary data.
For example, if your company is looking to use AI
for pharmaceutical research or drug discovery,
then data on molecular structures
and biological pathways might be needed.
So data will need to be refreshed frequently
as new findings emerge.
And the AI system you choose should be able
to handle the scale, the complex interactions,
and analyze vast quantities of data.
Or if your company's planning to use AI
to improve the accuracy of demand forecasting,
then data on past sales performance,
economic indicators, reports on industry trends
and customer behavior might be needed.
The system will need to assimilate large data sets
in different formats and continuously update
as new data becomes available
and then generate accurate predictions
for different products and markets.
So now let's transition to the type of AI you need.
This is basically the AI engine you want to implement.
If your goal is to use AI to create product designs,
you might want to use a system that has specific capabilities
for 3D modeling or animations,
or if you're interested in using AI
to improve customer service,
you might want a system that excels
in natural language processing or chat bot development.
Or, you might want a system design or product schema
that is a mix of workflows and generation and automation.
Once you have an idea of the type of system you need,
there are three more considerations for you.
The first one is implementation.
How easy or difficult will it be
to implement this type of AI in your company?
Consider the technical resources, the personnel, the cost,
and the time needed to integrate the model
into your business processes.
Second, scalability, can the model scale with your business?
You want to choose a type of AI
that will be able to grow with your company
rather than becoming obsolete
or struggling to handle the increased volume.
And lastly, transparency.
Are you able to understand
how the model is making its decisions?
Transparency is crucial for establishing trust,
and can help you fine tune the model over time.
With this information fresh in your mind,
I want you to pause this video
and write down your specific requirements
to ensure you're selecting the best solution for your needs.