The global artificial intelligence market is expected to reach $35 million by 2025, according to a new report by Grand View Research, Inc. This astounding figure is driven by AI’s use from some of the world’s largest industries, including automotive, agriculture, manufacturing and shipping.
The power of having immediate access to information from a simple photo or message, or through voice recognition, is invaluable to businesses. The caveat is that a lot of blood, sweat and tears go into training technology to get to the level of intelligence that is necessary. We’re talking tens of thousands of data points.
Today, AI is everywhere. But how are companies using it? Quentin Hardy, editorial head of Google Cloud, recently published an article in the Harvard Business Review headlined 3 Ways Companies Are Building a Business Around AI. He graciously included CAMP3 and our Farmwave product, which allows farmers to use AI tools to spot plant disease and pests in the field. Also included was TalkIQ, a customer service platform, and Blinker, a mobile app for buying and selling cars.
While all three companies come from very different backgrounds, the challenges faced are similar: the need for data. As Ganssle shared in the article, securing visual data for Farmwave was more challenging than the act of training the data. For example, capturing images of northern corn leaf blight (NCLB) took 10 months. This dedication to capturing and tagging data is what sets Farmwave apart from other AI products available to the agriculture industry.
In the article, Ganssle’s advice for businesses was to “capture something other people don’t have, and organize it with a plan for other uses down the road. With AI, you never know what problem you will need to tackle next. This could be used for thinking about soils, or changing water needs. When we look at new stuff, or start to do predictive modeling, this will be data that falls off the truck, that we pick up and use.”
How is your business using AI today?