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A.I. is so much more than 1980's era automated chat following a prescribed workflow. I truly feel that if you let that be your working definition and expectation you are missing opportunity today and you won't be ready for tomorrow.Check this out. It is a 3-minute video that does a great job of describing the process of training a computer through "reinforcement learning." You can visually see the adjustments that a computer made to solve a specific problem over millions of iterations. It looks like a video game too, so there is that.[MEDIA=youtube]kopoLzvh5jY[/MEDIA]Dr. Franke, who joined me on a RefreshFriday a few months back, dabbled with this exact methodology of reinforcement learning models to solve for pricing predictions in automotive. He quickly determined that it wasn't the right application because we cannot sufficiently "reset the world" on an everchanging market to test and retest a strategy.Dealers can't "reset the world" either. A.I. is already having an impact in the industry at the tier III level, and it is only going to become more apparent and more important.
A.I. is so much more than 1980's era automated chat following a prescribed workflow. I truly feel that if you let that be your working definition and expectation you are missing opportunity today and you won't be ready for tomorrow.
Check this out. It is a 3-minute video that does a great job of describing the process of training a computer through "reinforcement learning." You can visually see the adjustments that a computer made to solve a specific problem over millions of iterations. It looks like a video game too, so there is that.
[MEDIA=youtube]kopoLzvh5jY[/MEDIA]
Dr. Franke, who joined me on a RefreshFriday a few months back, dabbled with this exact methodology of reinforcement learning models to solve for pricing predictions in automotive. He quickly determined that it wasn't the right application because we cannot sufficiently "reset the world" on an everchanging market to test and retest a strategy.
Dealers can't "reset the world" either. A.I. is already having an impact in the industry at the tier III level, and it is only going to become more apparent and more important.
