Algorithms are determining our everyday lives and are appearing in more and more areas. They are at the heart of any artificial intelligence that businesses are increasingly benefiting from, to offer personalised and satisfying shopping experiences. However, according to a survey for the Bertelsmann Stiftung, more than half of Germans have little knowledge of this mathematical formula or its fields of application and are therefore afraid of it. That is worrying, to say the least.
A recipe from algorithms
Not only are algorithms behind Google, Facebook, and Netflix to deliver custom-tailored advertising, movies, or music, they are also used in many other areas, like, mobility, healthcare, and e-commerce.
The algorithms yield product recommendations, the selection of the best itinerary or partner, a diagnosis of diseases, a selection of the best candidates from a group of applicants, or the prediction of a construction machine failure, and much more.
Like cooking from a recipe, the term algorithm describes a series of instructions that are executed step by step to solve a problem or to tackle a task. For example, on Spotify, the algorithm determines which songs and playlists best fit your tastes based on past behaviours.
To accomplish these tasks, an efficient and fast management of a large amount of data is necessary. Machines that work with the help of algorithms play the first league in this field. They support people in the automation of complex projects or even take over their role.
In addition, based on existing information and a neural network, machines can learn to link new content over and over again and thereby continue learning, allowing machines to make predictions and decisions. Keyword: Machine learning.
Know, understand, and implement
As you can see, artificial intelligence is the main pillar of any technology and it is essential to turn data into value. It is the key to effective automation of processes and the component of intelligent apps and services that create a new intelligent interface between people and systems.
This not only affects the type of work or customer relations, but also the existing business models, and the role of the state. The AI revolution has yet to come. For this reason, it is important to know and understand what artificial intelligence is, what their different components mean and what they are needed for. Only those who know their digital world can adapt to it and take the right measures.
France is taking AI very seriously
In this context, I’ve noticed the plans regarding AI from French President Emmanuel Macron. Macron has introduced a new national strategy for AI and explained it in an exciting interview with Wired.
» I think artificial intelligence will disrupt all the different business models and it’s the next disruption to come. So I want to be part of it. Otherwise, I will just be subjected to this disruption without creating jobs in this country. So that’s where we are. And there is a huge acceleration and as always the winner takes all in this field. «
The French government will spend €1.5 billion ($1.85 billion) over a five-year period to support AI research, education and training, promote start-ups, and collect data. The government wants to optimise and accelerate many aspects.
More specifically, this means: Adaptive systems, customised funding, and customised rules and regulations to build champions in France and attract existing champions, Macron said.
Although this survey shows that nearly three-quarters of respondents have heard of the term “algorithm”, there is a lack of basic knowledge about digital transformation and a debate about its opportunities and challenges.
The aptly named Digital Agenda and Digital Strategy 2025 have made good progress in recent years. But there still is room for improvement, for example in the implementation of precise, indispensable measures in terms of education, training, and talent acquisition.