Artificial Intelligence

CF: Some of the companies have been in this market for 20 or more years. They have a storehouse of data that they’re able to capitalize on. I was wondering, how does a younger company in the industry handle competing with a company that has 20 years’ worth of call and text and other data at their disposal to feed into AI?

Kane: I think the future of AI is all around your data set. However, just because you have a bunch of data, doesn’t mean you have the teams to actually understand it and know what to do with it. Or teams that can build models or how to build it into a third party. How accessible is that data? This gets into the point about the architecture of the business. A company might have a monolithic architecture and data might be in different silos, not easily accessible. Again, just because you have the data, doesn’t mean you know what to do with it. Do you have the experts in-house that can build the relevant models? You could have a lot of data, but is it useful data?