“All models are wrong, but some are useful.” This is a famous quote from 20th century statistical thinker, George E.P. Box. This might seem like a strange message- shouldn’t all the models we build be as correct as possible? However, as a data scientist myself, I see great wisdom in this statement. After all, businesses don’t buy AI for model accuracy, they buy it to drive business value. Many businesses are investing in AI today without fully realizing its potential to deliver business impact. It’s time to shift the conversation. The problem? Most groups embark on building their AI solution…
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