Why Data Is The New Oil (an Ai Point Of View)

Clive Humby famously coined the phrase, “Data is the new oil” to explain the importance of data in the industry. Andrew Ng, a computer scientist, further added that AI is the new electricity, which uses data to work. Deep Learning, which is part of AI, has better prediction accuracy than machine learning. This article explains the importance of data and AI in the industry and how they can be used to create valuable entities that drive profitable activity.