Artificial Intelligence or AI is a computer system that simulates human intelligence. Specific applications of AI include expert systems, sound recognizing, natural language processing (NLP), robotics, and more.
This technology has been implemented in various fields and can be beneficial specifically to business.
Get to Know Artificial Intelligence
People often think robotics and Artificial Intelligence are the same things, but this is not true as both have different purposes.
You can find AI in mobile phones, smart cars, media streaming services like Netflix, and more.
Please keep in mind.
AI makes it possible for machines to understand verbal instructions, distinguish pictures and texts, and perform certain tasks better than humans. This AI includes Amazon Alexa, Apple’s Siri, or Google’s Hello Google.
Generally speaking, an AI works by using machine learning configuration to impersonate human intelligence, the computer employs algorithms and historical data to create predictions.
There are three AI cognitive skills; learning, reasoning, and self-correction. Let’s take a closer look at these three skills.
- Learning processes
This AI’s cognitive skills focus on gaining data and creating rules about how to convert data into actionable information. This rule is called an algorithm that shows the instruction on how to complete a certain task.
- Reasoning process
In this process, AI focuses on selecting the most suitable algorithm to achieve the desired outcome.
- Self-correction process
This skill is designed to improve the algorithm and ensure it can generate an accurate outcome.
AI is critical since it can provide an insight into things that may not have been noticed by a company before. In some cases, AI can do a better job than humans. Especially, in a task that requires detail-oriented.
AI for Business Need
In business, artificial intelligence is widely used in automation, data analysis, and Natural Language Processing (NLP). Those three can streamline operations and enhance the efficiency of a system. AI’s automation can reduce repetitive tasks, while data analysis provides never-before-seen insight.
In addition, NLP can be useful for those who have impaired sight as it can enable smart search, chatbot, and better accessibility.
On top of that, Artificial Intelligence has a significant impact on marketing as there is a rapid growth of social media marketing using AI today. This technology assists brands in personalizing their customer experience, connecting with consumers, and tracking a successful marketing strategy.
Regardless of the benefit, in technology like AI you have to pay attention to its security. For instance, an autonomous vehicle responding to an accident scenario. This AI-based technology is designed to determine how self-driving cars should operate systematically when facing an inevitable danger.
Thanks to AI, companies can decrease the amount of time their analysts have to spend on analysis and delivering consistent outcomes. However, AI is not without its flaws, such as high costs, it can never replace humans, and lacks creativity.
The Implementation of Artificial Intelligence in Business
AI has already been implemented in many companies, especially big companies that need technology like AI for their operation. Here are some of the implementations of AI in business.
AI is commonly used in marketing as it can be used to create an effective marketing strategy even execute it.
In addition, AI is also capable of clustering consumers based on their preferences or demography. This facilitates the targeting of ads based on their web history searches. Aside from ads, AI can also be used for the chatbox.
AI helps sales by enhancing predictions, consumer needs, and communication between a company and its customers. With the use of Artificial Intelligence, professionals can organize their time according to their needs and identify what they need the most.
- Research and development
AI can be used as a tool for innovation since it helps a company control lighting, heating, and cooling systems, use of internet-of-things as well as sensors.
Moreover, AI can also adjust the building’s systems to suit the number of occupants, time, and others.
From the supply chain to tracking inventory in stores, manufacturing companies may use AI for their operations. AI is not only useful for anticipating demand and setting production, but also for a sensor in tools.
AI can anticipate problems that may arise in every business process. Meanwhile, machine vision may assist the quality control process in manufacturing facilities.
Companies employ AI to reduce cost and operational efficiency. Artificial intelligence automation generates better outcomes for companies’ financial problems, allowing the finance team to focus on other tasks.
Moreover, AI can also show real-time financial statuses of organizations, as it can monitor through natural language processing.
- Customer experience
A famous fashion brand, Burberry, has used Artificial Intelligence for customer experience. They use big data and AI to enhance their customer experience.
Through its loyalty program, the company collects customer information. An innovative chatbox can also increase customer experience.
- Human resources
In fact, Artificial Intelligence sometimes replaces humans for certain tasks. By automating repetitive tasks, AI increases efficiency and reduces costs.
The human resources department can also use AI to make data-driven decisions. It assists with screening candidates and recruitment.
By using AI, the company is able to enhance its performance. The early steps of implementing AI require a thorough plan until the company can fully utilize it.
AI technology can be applied in various business fields, as it can help a company gain more customers and increase revenue.
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