z video 2 Today we will talk about The future impact AI will have in the business world:

Today we will talk about The future impact AI will have in the business world: 

You probably interact with artificial intelligence (AI) on a daily basis and don’t even realize it.

Many people still associate AI with science-fiction dystopias, but that characterization is waning as AI develops and becomes more commonplace in our daily lives. Today, artificial intelligence is a household name – and sometimes even a household presence (hi, Alexa!).

While acceptance of AI in mainstream society is a new phenomenon, it is not a new concept. The modern field of AI came into existence in 1956, but it took decades of work to make significant progress toward developing an AI system and making it a technological reality.

In business, artificial intelligence has a wide range of uses. In fact, most of us interact with AI in some form or another on a daily basis. From the mundane to the breathtaking, artificial intelligence is already disrupting virtually every business process in every industry. As AI technologies proliferate, they are becoming imperative to maintain a competitive edge.

What is AI?

Before examining how AI technologies are impacting the business world, it’s important to define the term. “Artificial intelligence” is a broad term that refers to any type of computer software that engages in humanlike activities – including learning, planning, and problem-solving. Calling specific applications “artificial intelligence” is like calling a car a “vehicle” – it’s technically correct, but it doesn’t cover any of the specifics. To understand what type of AI is predominant in business, we have to dig deeper.

Machine learning

Machine learning is one of the most common types of AI in development for business purposes today. Machine learning is primarily used to process large amounts of data quickly. These types of AIs are algorithms that appear to “learn” over time.

If you feed a machine-learning algorithm more data its modeling should improve. Machine learning is useful for putting vast troves of data – increasingly captured by connected devices and the Internet of Things – into a digestible context for humans.

Deep learning

Deep learning is an even more specific version of machine learning that relies on neural networks to engage in what is known as nonlinear reasoning. Deep learning is critical to performing more advanced functions – such as fraud detection. It can do this by analyzing a wide range of factors at once.

For instance, for self-driving cars to work, several factors must be identified, analyzed and responded to simultaneously. 

AI and business today

Rather than serving as a replacement for human intelligence and ingenuity, artificial intelligence is generally seen as a supporting tool. Although AI currently has a difficult time completing commonsense tasks in the real world, it is adept at processing and analyzing troves of data much faster than a human brain could. Artificial intelligence software can then return with synthesized courses of action and present them to the human user. In this way, we can use AI to help game out possible consequences of each action and streamline the decision-making process.

Common uses of AI

Some of the most standard uses of AI are machine learning, cybersecurity, customer relationship management, internet searches, and personal assistants.

Machine learning

Machine learning is used often in systems that capture vast amounts of data. For example, smart energy management systems collect data from sensors affixed to various assets. The troves of data are then contextualized by machine-learning algorithms and delivered to your company’s decision-makers to better understand energy usage and maintenance demands.

Cybersecurity

Artificial intelligence is even an indispensable ally when it comes to looking for holes in computer network defenses, Husain said. Believe it or not, AI systems can recognize a cyberattack, as well as other cyber threats, by monitoring patterns from data input. Once it detects a threat, it can backtrack through your data to find the source and help to prevent a future threat. That extra set of eyes – one that is as diligent and continuous as AI – will serve as a great benefit in preserving your infrastructure.

“You really can’t have enough cybersecurity experts to look at these problems, because of scale and increasing complexity,” Husain added. “Artificial intelligence is playing an increasing role here as well.”

Customer relationship management

Artificial intelligence is also changing customer relationship management (CRM) systems. Software programs like Salesforce and Zoho require heavy human intervention to remain current and accurate. But when you apply AI to these platforms, a normal CRM system transforms into a self-updating, auto-correcting system that stays on top of your relationship management for you.

A great example of how AI can help with customer relationships is demonstrated in the financial sector. Dr. Hossein Rahnama, founder and CEO of AI concierge company Flybits and visiting professor at the Massachusetts Institute of Technology, worked with TD Bank to integrate AI with regular banking operations.

Internet and data research

Artificial intelligence uses a vast amount of data to identify patterns in people’s search behaviors and provide them with more relevant information regarding their circumstances. As people use their devices more, and as AI technology becomes even more advanced, users will have a more customizable experience. This means the world for your small businesses because you will have an easier time targeting a very specific audience.

“We’re no longer expecting the user to constantly be on a search box Googling what they need,” Rahnama added. “The paradigm is shifting as to how the right information finds the right user at the right time.”

Digital personal assistants

Artificial intelligence isn’t just available to create a more customized experience for your customers. It can also transform the way your company operates from the inside. AI bots can be used as personal assistants to help manage your emails, maintain your calendar, and even provide recommendations for streamlining processes.

You can also program these AI assistants to answer questions for customers who call or chat online. These are all small tasks that make a huge difference by providing you extra time to focus on implementing strategies to grow the business.

The future of AI

How might artificial intelligence be used in the future? It’s hard to say how the technology will develop, but most experts see those “commonsense” tasks becoming even easier for computers to process. That means robots will become extremely useful in everyday life.

“AI is starting to make what was once considered impossible possible, like driverless cars,” said Russell Glenister, CEO and founder of Curation Zone. “Driverless cars are only a reality because of access to training data and fast GPUs, which are both key enablers. To train driverless cars, an enormous amount of accurate data is required, and speed is key to undertaking the training. Five years ago, the processors were too slow, but the introduction of GPUs made it all possible.”

Glenister added that graphic processing units (GPUs) are only going to get faster, improving the applications of artificial intelligence software across the board.

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