Richard Potter, CEO at Peak, talks to us about Decision Intelligence and why it’s set to be a hot topic in 2022…
Decision intelligence (DI) is the commercial application of AI to the decision-making process. It doesn’t just deliver AI models, it delivers outcomes, and so addresses many of the issues faced by businesses struggling to generate a return from their AI strategy. Because of this, DI is how the majority of businesses will adopt AI – making it the biggest tech movement for a generation.
Along with a Decision Intelligence Platform, the vast majority of businesses will need strategy, services and support to transform into an AI company. We’re at the stage of ‘narrow AI’, where machine learning and AI can make predictions and categorisations for specific purposes.
However, to solve business’s biggest challenges, AI needs to be focused on an outcome, on delivering against business objectives and driving tangible results at an organisational level – 2022 will set the stage for such customisation. Gartner predicts that, by 2023, 30% of large organisations will be practicing DI.Peak believes that, as commercial investment in AI increases and the field of data science matures, a new standard of data science is emerging and will continue to grow in 2022. Like Decision Intelligence, this commercial approach to data science starts with an outcome in mind. Commercial data science teams will start to shift from a bottom-up approach and instead prioritise getting an end-to-end solution live to generate value as quickly as possible.
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Given the fast-paced environment, they will then need to focus on iterating and improving it which will decrease time to value and increase the number of AI models that are productionised (currently only a minority are). Decisions Intelligence is at the forefront of innovation in business tech and will continue to be adopted by more and more companies in the next few years.About Peak: Jointly founded in Manchester and Jaipur in 2015 by Richard Potter, David Leitch and Atul Sharma, Peak is on a mission to change the way the world works. Peak’s decision intelligence platform provides businesses all over the world with AI-powered solutions that drive commercial outcomes.
Connecting data sets from across an organisation to provide predictive insight, Peak’s Decision Intelligence platform includes a suite of features that enable customers to build and integrate AI-powered solutions that direct decision making across multiple business functions. It is used by leading brands including Nike, Pepsico, KFC, Sika and PrettyLittleThing. The company has grown significantly over the last three years and, in August 2021, Peak announced a $75m Series C funding round led by SoftBank’s Vision Fund II.
The same year, it received a Best Companies 3-star accreditation, which recognizes extraordinary levels of employee engagement and was ranked by The Sunday Times as one of the Best 100 Companies to Work For in 2020 and 2021.
