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Are you ready to swap your MD for AI?

In our weekly look into the world of business, Luke Pritchard from our corporate & commercial...

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Are you ready to swap your MD for AI?

20th March 2017

News : Commercial

In our weekly look into the world of business, Luke Pritchard from our corporate & commercial department, takes a look at the new alternative to your Managing Director…

Many a business has succeeded, or failed, as a result of decisions made by a canny Managing Director. So, are we ready to hand over control of those decisions to a computer?

AcuteIQ is a Silicon Valley company headed by a British entrepreneur, Ian Foley. The company has used a database of 21 million small businesses to create a machine that can pick out signals in the data of a business to propose the best course of action.

The business will have the peace of mind that the same decision has successfully been taken previously by other businesses. Perhaps of even more importance, as lenders take note of the software, use of it may improve the credit rating of a business.

But every business is different. Each has different goals and objectives, a different culture and each operates in a different market. Are we really ready to hand over full control to a piece of software?

We may not be ready to trust Artificial Intelligence to run our businesses just yet, but there is no doubt that the software we use is soon to become more intelligent and intuitive. The most successful businesses of the future are likely to be those who are best able to make use of it.

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