The Data Rich Show EP 04: All Things AI with Steve Meier

All Things AI

June 30, 2022

With

Steve Meier

In this episode, Steve talks about AI and why it is not what most people think it is. AI seems daunting, but is, in fact, most beneficial when applied in small, practical ways to solve problems businesses face.

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44:41

Show Notes:

The pandemic has resulted in unprecedented e-commerce growth, and it is harder than ever to stand out online. Although AI is a great way for businesses to differentiate themselves, there is still confusion about what artificial intelligence actually is. Steve Meier is a creative technologist and is the Co-Founder and Head of Growth at KUNGFU.AI, an artificial intelligence consultancy that helps companies start and accelerate AI programs by providing strategy and development services. In this episode, Steve talks about AI and why it is not what most people think it is. AI seems daunting, but is, in fact, most beneficial when applied in small, practical ways to solve problems businesses face. When these small wins compound, that's when the magic of AI truly happens. Steve explains the services that KUNGFU.AI offers, why there is no such thing as perfect data, and the importance of education when it comes to AI. Many businesses are afraid of failing, but it is possible to fail your way to success, and AI is key in connecting the dots that data provides. We also discuss the importance of strategy when it comes to AI and related decision-making, the role that non-tech team members can play in the AI landscape, why businesses should be prepared to spend money on AI, and Steve's recommendations for resources to learn more on the topic. To hear more be sure to tune in today!

Key Points From This Episode:

Get to know Steve, his background, and the impetus for starting KUNGFU.AI.
Some of the services that KUNGFU.AI, as an AI service agency, provides clients.
What made Steve realize the business solution power of AI.
Common fears that Steve sees around AI and how he helps people overcome them.
Where clients who are looking to use AI in their companies should start.
The importance of having the right kind of data for AI to be effective.
Adapting to the post-COVID world: what AI and ML's role in e-commerce has become.
How AI works with existing tools to enhance the customer experience.
Some of the types of data that are important for companies to collect.
Debunking the myth that data has to be perfect to be used for AI.
When companies should start collecting data to use for AI.
The team member who should be learning more about AI and its application for the business.
Benefits of working with an external partner when building an AI roadmap.
Steve's four takeaways around AI: get educated, have a strategy, value your data, and reinvest profits into data literacy.
What companies can expect to spend on AI and the factors that influence the cost.
The role that data plays in Steve's personal life and his passion for research.
Why those who do not have a high level of technical acumen are still valuable in the world of AI.
Steve's resource recommendations for those who want to learn more about AI.
Advice on how to leverage data better in life and business.
Hear more about the forecasting module KUNGFU.AI has built.
Final words from Steve: there is still room for you to stand out!