Artificial intelligence is the science and practical application of computer systems and programming which allows computers to perform tasks in a more intelligent or “human-like” manner such as speech recognition, translation, decision-making and more.
What is “AI” in a few words?
AI is important for modern companies because computers are becoming progressively more indispensable in the workplace and the learning languages which AI use are assisting humans in all areas of business.
For instance, in an industrial setting, you may have computerized arms building certain parts of a machine alongside a human counterpart. The benefit is obvious – AI can perform physical as well as mental work which would be menial or easily tire the human. In less obvious ways, virtually any company can utilise artificial intelligence opportunities to automate work and increase the volume of work being finished. Unlike a person, AI can run 24/7 to solve a problem, compile a list, perform calculations, harvest data and analyse information.
Why is AI so important for companies?
Because of the incredible ability of machine learning to access, retain, and “learn” new materials, products can even be created and put into development by AI for later testing by human operators in real world scenarios. By 2025, the market for AI applications in enterprise use is forecast to be in excess of $30 billion. Top Fortune 500 and other internationally known billion dollar companies are at the forefront of using AI within their companies to make their businesses faster, better, and more profitable. Big names such as Apple, Google, Uber, Intel, IBM, Skype, Salesforce and Shell are currently very interested in what artificial intelligence can do for their businesses.
Although the idea of artificial intelligence can be controversial, some of the applications could be invaluable and even life-saving. For instance, phone apps which can detect health conditions and alert you to issues which need medical attention, or voice recognition software which enables household tasks to be completed by robot, assisting the elderly and disabled to live more independent lives. For every sector of business, there is an opportunity to implement AI whether it is through designing a new product or utilising the AI available to make repetitive tasks less tiresome.
There is a danger of not only missing out but losing big for those who fail to understand and implement AI within their organizations. This is because much of technology tends to leapfrog on itself. AI using machine learning will grow smarter, and gains from using AI in business will multiply at an increasingly rapid rate. To start from policies which do not have any sort of artificial intelligence working in the company and then make the leap to much more advanced systems will be more difficult than starting to use AI now and understanding it before its next big leap. The future and AI are bright for those companies who take seriously the potential of AI to develop their business successfully.