Artificial Intelligence is replication of human intelligence processed by computer. The process includes reasoning, learning as well as self-correction. The AI’s particular application includes speech recognition, expert system as well as machine vision.
The importance of artificial intelligence
AI will give countless benefit to your business and here are the reasons for the same
It automates repetitive learning as well as discovery by data- It is different from robotic information. Instead of manual task automation, it will perform high volume, frequent task with no fatigue.
- AI adds intelligence : Intelligence is added to existing products and already used products will be added with AI intelligence. Automation, bots, smart machines along with conversational platform all can be combined with large volume for improving technologies at home and even in work place starting from investing analysis to security intelligence.
- It automates learning as well as discovery through data : AI is diverse from hardware driven, robotic automation. In the place of automating manual task, it performs high volume, a frequent computerized task without getting tired. Although, human inquiry is required for this type of automation for setting up the system along with the right questions.
- Adapts by progressive learning algorithms : This allows data to do programming. AI finds regularities and structure in data for the algorithm to acquire skill, they become predictor of classifier so at it can teach itself to play chess or to recommend product. In an AI technique back propagation will permit model top adjust through training along with adding data when the first answer isn’t right?
- AI analyses more data and in a deeper way : This is done by AI with the use of neural network that have numerous hidden layers. It was impossible to build a fraud detection few years back that had 5 hidden layers. All these have changed with computer power as well as big data. Ample data are required for training deep learning model, since they learn from data directly. Their accuracy is directly proportional to data feeding.
- Incredible accuracy is achieved through AI : This is possible only with AI through deep neural network. This can be explained better with an example where an interaction with Google Search, Alexa, as well as Google photos gets more accurate the more it is used. In the field of medical, techniques of AI from deep learning can easily be used to find cancer on MRI with the same accuracy as with trained radiologists.
- AI gets the maximum out of data : Data can become intellectual property when algorithms are self-learning. Everything is in data, just the application of AI is required. Data can create competitive advantage since role of it is more competitive than ever. If in a competitive industry one has best data, it will win even if everyone is applying the same technique.
Examples of artificial intelligence
Artificial intelligence is not limited to just an industry, whether it is B2B, B2C or both. It has a huge effect on our life, it’s just that we didn’t pay any attention to it. Here are few examples of these.
- Smart Cars : Have you seen anyone reading magazine, newspaper or playing video game while driving? It isn’t a science fiction movie, but a reality and we are moving close to it every day. Earlier there was news about Washington posted that an algorithm was developed by Google that will easily allow self-driven car to drive as human drive a car.
- Purchase prediction : Retailers like Amazon and target will make ample money if they can predict the need of people who trust these brands. Most people trust product as well as services with respect to how the same was successful satisfying their needs. So, instead of just highlighting the good things about a particular brand, it is better to make things as per the need instead of outlining these with silver.
AI is indeed smart enough to know human mind and after that rest will be cake walk.
- Fraud detection : Did you ever receive an email that you lump sum amount was credited to your account or you have made purchases of certain amount of your credit card? These are nothing but ways to extract money from you. Artificial intelligence can be designed in a way to detect these fraud mails and the manner AI will handle all, no one can dare do these things.
These are just a few examples of AI with respect to how it will help buyers and seller of goods and services. Thus, marketers must not wait in using AI in optimizing their respective market. Mankind’s world has started changing, although it’s slow but is steady!