From SIRI to Self-driving cars, Artificial Intelligence (AI) is progressing rapidly. While science fiction often portrays AI as robots with human-like characteristics, AI can encompass anything
Artificial intelligence is properly known as narrow AI (or weak AI), in that it is designed to perform a narrow task (e.g. Facial recognition). However, the long-term goal of many researchers is to create general AI (AGI or strong AI).
While narrow AI may outperform humans at whatever its specific task is, like playing games or solving equations, AGI would outperform humans at nearly every cognitive task.
AI is increasingly becoming a part of our day-to-day lives. By integrating AI solutions into every aspect of the business, organizations can optimize operations, gain a competitive edge and ultimately accelerate growth.
The scope for innovation and development in AI is enormous and it will continue changing the world in diverse ways in the future.
The scope for innovation and development in AI is enormous and it will continue changing the world in diverse ways in the future.
Automation is one of the most commonly cited benefits of AI technology, and it has had significant impacts on the communications, transportation, consumer products, and service industries.
Automation not just leads to higher production rates and increased productivity in these sectors but also allows more efficient use of raw materials, improved product quality, reduced lead times, and superior safety. Automation can also help to free resources that can be used for more important things.
Artificial Intelligence has always been used for making smarter business decisions. AI technology can coordinate data delivery, analyse trends, develop data consistency, provide forecasts, and quantify uncertainties to make the best decisions for the company. As long as AI is not programmed to imitate human emotions, it will remain unbiased on the matter at hand and will help to make the right decision to support business efficiency.
AI-powered solutions can help businesses to respond to customer queries and grievances quickly and address the situations efficiently. The use of chatbots that couple conversational AI with Natural Language Processing technology can generate highly personalized messages for customers, which helps to find the best solution for their needs. AI tools can also help to reduce the strain from the customer service staff, which will lead to better productivity.
The use of Artificial Intelligence solutions in the healthcare sector is becoming increasingly popular these days. Remote patient monitoring technology, for instance, allows healthcare providers to perform clinical diagnoses and suggest treatments quickly without requiring the patient to visit the hospital in-person. AI can also be beneficial in monitoring the progression of contagious diseases and even predict their future effects and outcomes.
As we’ve already mentioned, AI systems don’t have to deal with fatigue. Humans, on the other hand, get tired. The human brain can only focus on one task for so long before that focus starts to slip.
When people get tired, they’re more likely to make poor decisions and become vulnerable to mistakes. Repetitive jobs can be particularly prone to human error when a task is repetitive, it’s easier for humans to lose concentration. But AI systems don’t have to focus, they’re programmed for their function. And for those assigned tasks, AI systems eliminate the risk of human error, producing a more accurate result.
Modern businesses are swimming in data, but are they getting the most out of it? While manual data analysis is a time consuming enterprise, AI systems can process and analyse massive amounts of data at remarkable speed.
AI systems can quickly find relevant information, identify trends, make decisions, and offer recommendations based on your historical data. For instance, algorithms can quickly analyse the effectiveness of marketing materials, identify customer preferences, and offer actionable insights based on those customer behaviours.
Human can work an average of 8.8 hours a day. Whether we’re productive that whole time is an entirely different story. But machines don’t take breaks for coffee. They don’t step away from their desks to catch up with colleagues. And they definitely don’t pack up and go home at 5 p.m. Digital assistance solutions like chatbots are available to take customer inquiries no matter the time of day. It is advisable to upgrade to AI for the jobs which can be automated.
There are many more benefits of Artificial Intelligence that span from space exploration to advancements in defence systems and more. The technology is evolving steadily, and it has the potential to be more intelligent than ever. While there is no way of predicting the future of AI, it will certainly continue benefitting businesses and end-users in their everyday lives.
