Artificial intelligence in business

Artificial intelligence in business

Artificial intelligence (AI) is steadily making its way into the workplace. AI has a wide range of applications in business, from workflow management to trend forecasting. It also opens up new business possibilities.

Artificial intelligence (AI) in the workplace

You might use AI technologies to:

Recover customer services – Use virtual assistant programs to provide users with real-time assistance (for example, with billing and other tasks).

Automate assignments – collect and analyse data from smart sensors, or use machine learning (ML) algorithms to classify work, route service requests automatically, and so on.

Enhance logistics – To monitor and optimise your infrastructure, plan transportation routes, and so on, use AI-powered image recognition tools.

Upsurge manufacturing efficiency and output – Integrate industrial robots into your workflow and train them to perform labor-intensive or mundane tasks to automate your production line.

Preclude outages – Use anomaly detection techniques to spot patterns that could cause a business disruption, such as an IT outage. Specific AI software may also assist you in detecting and preventing security breaches.

Forecast performance – Use artificial intelligence (AI) applications to predict when you’ll meet performance targets, such as response time to help desk calls.

Predict performance – use machine learning algorithms to analyse patterns of online behaviour in order to serve tailored product offers, detect credit card fraud, or target relevant advertisements, for example.

Manage and examine your data – AI can help you interpret and mine data more efficiently than ever before, giving you valuable insight into your assets, brand, employees, and customers.

Improve your marketing and advertising by tracking user behaviour and automating many routine marketing tasks, for example.

Categories of artificial intelligence

In the tech industry, AI has become a very broad term that can refer to anything from a comprehensive virtual assistant to a simple tool that deletes spam emails. When learning about your options for implementing AI for startups, it’s critical to be able to distinguish between the various categories so you know exactly what you’re getting yourself into with each. If you’re not a techie, learning these terms will make it easier for you to communicate with your developers about what kind of AI is best for your company.

Practical classifications of AI

Most of the biggest ai companies are classified according to their ability to “think” like a human or which human-like functions they can perform.

Reactive Machines are the most basic and limited form of artificial intelligence. These machines can’t learn or remember anything from their past experiences, but they can respond to stimuli in a way that mimics the human mind. They’re typically used to react to a limited set of inputs. IBM’s Deep Blue, for example, is an AI programme that beat a chess grandmaster in 1997.

Limited Memory Machines encompass nearly all of the AI applications that you are familiar with today. This category includes machines that improve their responses to stimuli by learning from their previous experiences. As a result, this includes machine learning, deep learning, natural language processing, vision, and more.

Another way to categorise AI applications is based on their capabilities. Artificial Narrow Intelligence is capable of autonomously performing a human-like task as programmed; this includes all reactive and limited memory machines, and thus all AI applications to date. Artificial General Intelligence, which would mimic the functionality of a human brain, and Artificial Super intelligence, which would surpass the human brain’s capabilities, are also included in the classification.

David Lockhart