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August: Best of the Web

Read below for a roundup of interesting sites, resources, and articles from around the web, curated and contextualized by unbiased analytics experts at IIA. Highlights include a case study on Mastercard's successful adoption of AI, an article exploring legal implications of enterprise AI implementation, and a blog comparing RAG and Finetuning. Follow us on Twitter and LinkedIn to receive daily updates on IIA content and curated content as it becomes available.

Featured Articles on Analytics Use Cases

Generative AI at Mastercard: Governance Takes Center Stage (MIT Sloan Review)

This case study on Mastercard’s usage of generative AI highlights the pivotal role of governance in its transformative process. Mastercard's approach to AI governance is highlighted as a key factor in ensuring responsible and ethical AI development. They emphasize the need for comprehensive policies, clear ownership, and continuous monitoring to manage risks and maximize the benefits of generative AI. The article illustrates how Mastercard's commitment to governance has positioned them as a leader in responsible AI adoption, providing valuable insights for other organizations navigating this technology landscape.

Featured Articles on Analytics Strategy

Turning Insights into Actionable Outcomes (Towards Data Science)

This article emphasizes the importance of a well-defined data strategy and the need for cross-functional collaboration within organizations. The article provides valuable insights into data-driven decision-making, highlighting the significance of aligning data initiatives with business objectives. It also underscores the need for continuous monitoring and adjustment to ensure that data-driven actions lead to meaningful outcomes.

Data Science Has Changed, Not Died! (KD Nuggets)

The article discusses the evolving landscape of data science, suggesting that the field has undergone significant transformation. It emphasizes shifts in tools, methodologies, and job titles, indicating that adaptation is essential. While some traditional roles might have evolved, data science remains relevant, with new opportunities emerging in related domains.

Featured Articles on AI and Machine Learning

Legal and Ethical Perspectives on Generative AI (Towards Data Science)

This article delves into the complex issues surrounding the legal and ethical implications of generative AI technology. The author discusses how AI-generated content, such as deepfakes and text generation, can pose significant challenges to copyright, privacy, and security. They emphasize the need for robust regulations and ethical guidelines to mitigate potential misuse. The article highlights various extant legal cases and frameworks and suggests that striking the right balance between innovation and control is crucial in harnessing the potential of generative AI responsibly.

How Businesses Can Measure the Success of AI Applications (VentureBeat)

The article explores methods for evaluating the effectiveness of AI applications in businesses. It discusses key metrics like accuracy, efficiency, and user satisfaction to gauge AI performance. It highlights the significance of aligning AI goals with business objectives and iteratively improving models for successful implementation.

RAG vs Finetuning — Which Is the Best Tool to Boost Your LLM Application? (Towards Data Science)

This article evaluates the effectiveness of RAG and fine-tuning for improving Large Language Models (LLMs) in various applications. It dissects the mechanics and intricacies of both methods, shedding light on their strengths and limitations. The article emphasizes the importance of choosing the right approach based on specific use cases and objectives. It serves as a valuable resource for those looking to leverage LLMs optimally, offering a comprehensive comparison of RAG and fine-tuning as tools for enhancing LLM applications.