It’s evident that we are in an era of profound technological innovation, and few things are garnering as much attention as artificial intelligence (AI).
Indeed, AI is expected to have a profound impact on virtually every facet of culture and the economy, and businesses are well aware of its transformative potential. It’s estimated that more than 80% of all enterprises are invested in AI initiatives, and, Deloitte identifies AI implementation as a top trend in 2019.
However, that doesn’t mean that every company has the same opportunity to reap the benefits of this technology.
Developing and implementing AI-powered processes can be prohibitively expensive, especially for small and medium-sized businesses that lack the vast resources of major corporations. Consequently, there is considerable anxiety among business leaders about the practicality of AI integration.
To put it simply, everyone sees the importance of AI, but tangible realities like cost and talent acquisition are making the technology’s actual deployment less robust than it could be.
Adding Equity to AI
While AI has many expressions for various industries, its ability to transform our era of big data into usable insights is undoubtedly one of its most compelling use cases. Today, most companies have access to the big data, but they lack the AI-provided capacity to make sense of this information or to derive further benefit from its acquisition.
That’s why this week’s launch of the Endor Protocol, a predictive analytics platform powered by MIT’s social physics technology, is so noteworthy.
The platform is founded by two MIT researchers, Prof. Alex “Sandy” Pentland and Dr. Yaniv Altshuler, and it enables users to access AI-powered business predictions that are often restricted to large enterprises with significant resources.
Right to left: @MIT Prof. Alex Pentland, @Forbes Top 7 Data Scientists and #ArtificialIntelligence legend + Dr. Stuart Haber, world renowned inventor of #Blockchain #Technology since 1991 + Dr. Yaniv Altshuler, CEO of @EndorProtocol and pioneer in #PredictiveAnalytics. pic.twitter.com/ieqDfUWydj
— ENDOR (@EndorProtocol) September 26, 2018
Although the company’s core enterprise product is already being used by Fortune 500 companies like Walmart, Coca-Cola, and MasterCard, Dr. Altshuler explains, “Our vision from the company’s inception was to enable anyone, regardless of size and budget, to benefit from advanced AI and predictive analytics at an affordable price.”
Predictive analytics has many use cases across several different industries. For instance, predictive analytics is an important priority for healthcare companies striving to provide better patient care through improved diagnostic ability.
In addition, retailers can harness the power of AI predictive analytics to make real-time decisions based on anticipated customer behavior and changing trends.
Endor’s platform is described as the “Google for predictive analytics,” indicating that its usability and adaptability is suitable for any company, regardless of AI expertise, to easily derive benefit from the platform.
Rather than building its own infrastructure from scratch, Endor allows any company to adopt an off-the-shelf approach to AI accessibility, lowering the price per prediction and making the entire process more affordable.
A Modern Approach to Novel Technology
Notably, Endor’s predictive analytics platform can compute encrypted data streams, which both protects customer privacy and ensures that the process isn’t fodder for data thieves. Dr. Stuart Haber, a member of Endor’s scientific advisory board, details this priority, explaining, “The surprising power of Endor’s proprietary Social Physics-based prediction engine is the high quality of its predictions, even when the underlying data elements are encrypted.”
As data regulations are quickly becoming the norm, this feature is distinctly critical as companies adopt AI and predictive analytics into their workflows.
Moreover, Endor capitalizes on the emergence of the token economy by using their EDR utility token to facilitate the platform. In doing so, Endor is bringing together some of the most forward-leaning technologies available.
Taken together, Endor’s predictive analytics platform offers profound data solutions for the digital age. Most importantly, it’s available to everyone. Charles Hoskinson, Cardano CEO and Endor adviser, advocates the platform’s accessibility, saying, “This is an important step towards democratizing access to AI and Data Science.”
To be sure, we are just beginning to see the benefits of AI at the enterprise level, but because of Endor’s latest release, more companies will be able to tangibly experience those advantages.
