Hi ,
Back in the day, Kodak was the king of cameras.
At the height of its success, Kodak sold 90% of all film and 85% of all cameras in the United States alone. Yet, in 2012, it
filed for bankruptcy.
Kodak's business strategy was based on optimising what had worked for it in the past, so it delayed the transition to the world of digital photography until it was far too late.
Kodak made the mistake of failing to look beyond its past data to
the unknown future.
Here's the thing...
Machine learning is fantastic at finding patterns in large volumes of data and can tell you the optimal course of action, assuming everything continues the way it has in the
past.
But when in history has anything ever continued the way it has in the past?
The world is constantly changing and to remain relevant, it's necessary to consider the future, too - which requires human innovation.
Machine learning can tell you how to make a better film-based camera. Human innovation is required to make the shift to digital.
Talk again soon,
Dr Genevieve Hayes.
