Enterprises lose millions each year due to poor AI models

Underperforming AI models, which are built using inaccurate or low-quality data, are resulting in misinformed business decisions. A study for Fivetran, conducted by Vanson Bourne, polled 550 from organizations with 500 or more employees and finds that on average they lose six percent of their global annual revenues, or $406 million, to poor AI models. Almost 90 percent of organizations are using AI/ML methodologies to build models for autonomous decision-making, and 97 percent are investing in generative AI in the next one to two years. At the same time, organizations point to challenges of data inaccuracies and hallucinations, and concerns… [Continue Reading]