No asset is more prized in today’s digital economy than data. It has become widespread to the point of cliche to refer to data as “the new oil.” As one recent Economist headline put it, data is “the world’s most valuable resource.”
Data is so highly valued today because of the essential role it plays in powering machine learning and artificial intelligence solutions. Training an AI system to function effectively—from Netflix’s recommendation engine to Google’s self-driving cars—requires massive troves of data. The result has been an obsession with bigger and bigger data. He with the most data can build the best AI, according to the prevailing wisdom.
Author: Rob Toews