In recent years, artificial intelligence has taken over in different industries as an alternative to human intelligence due to its impressive ability to enable computers to function more like human beings by completing tasks like image processing and natural language processing using techniques like machine learning, deep learning, and algorithms like a convolutional neural network.
There has been great progress in the research sector regarding artificial intelligence with some sectors necessitating a certain level of transparency and accountability that has yet to be reached in sectors like business and medicine. Today, you will hear of AI examples ranging from chess-playing computers to self-driving cars. Computers can be trained to accomplish specific tasks using these technologies by processing large amounts of data in short periods and recognizing patterns in the data.
As part of this discussion, we shall cover what is of artificial intelligence and why it important. Have you been considering becoming an AI engineer or perhaps employing AI in your business? If yes, this blog will relay all the basic information you need to know.
All the successful tech companies in Silicon Valley and the rest of the world have achieved their success by solving a problem that individuals or organizations face on a day-to-day basis. Start by identifying the problem you intend to solve and gather as much information as possible about it.
AI is a technology designed to mimic human intelligence and allow machines to learn from experience using iterative processing and algorithmic training. It can also be described as the ability of a computer to perceive, learn, and solve problems. Every time AI systems perform a successful round of data processing, they get smarter because the interaction allows the system to test solutions, measure them, and achieve expertise in the task that has been accomplished.
It is faster and more accurate than humans which makes it a very effective option for any intelligent decision-making process. This means that AI essentially allows computers to function like human beings with a lot more processing power and speed than the human brain can master. AI systems have proved a great capability to outperform humans which makes them very important in the modern economy.
Why is Artificial Intelligence Important?Call centers tend to use Virtual Customer Assistants (VCA) to predict and respond to customer queries outside of human interaction. Repetitive machine learning makes it possible to achieve a steady flow of 360-degree customer insights for hyper-personalization of replies. The first point of interaction in a customer service inquiry is often through simulated human dialogue and voice recognition before redirection to an actual human in case of higher-level inquiries.
An individually initiated dialogue on a website through chat (chatbot) is often a conversation with a computer running on specialized AI. A human can intervene if the chatbot is unable to interpret or address the question asked. The interaction is then fed into the machine-learning computation system to improve AI interactions in the future. AI makes it possible to employ 24-hour chatbots and faster help desk routing. Businesses can use it to sort through data in real-time and provide high-touch experiences that lead to growth and overall satisfaction.
Improved Accuracy and Decision MakingAI can be trained to act more accurately than humans by utilizing their ability to collect, interpret data, and make better decisions regarding tasks like identifying the growth of cancer via x-rays or choosing financial investments. When accurately programmed, AI can significantly decrease mistakes. Unlike humans, AI has been found to perform with 78% accuracy in the field of medicine according to a paper by Miguel Paredes released in 2018. While AI is incapable of imitating human intuition and knowledge, it can neither get stressed nor exhausted which means it is capable of operating repetitively without error. AI also augments human intelligence with rich analytics and pattern prediction which makes it possible to advance the quality and effectiveness of decision-making in all fields of work.
Empowering EmployeesAI can take over mundane and repetitive activities while employees spend their time accomplishing more fulfilling tasks. Humans easily get bored with doing repetitive tasks since they are naturally creative and prefer to move on to other more fulfilling things. Boredom and repetitiveness of a task may lead to loss of focus hence leaving opportunities for mistakes.
On the other hand, AI-driven machines tend to run effectively without losing focus or getting tired. They can collect data on activity and create solutions on how to perform tasks more smoothly and efficiently.
AI changes the way work is done and reinforces the role of employees to drive growth by boosting labor productivity. It can unlock incredible potential amongst employees and talent with disabilities and other employees by identifying points of strength and weakness helping them thrive in their strengths.
End-to-End Efficiency in Retail and ManufacturingAI eradicates friction and improves analytics and resource utilization in organizations leading to a reduction of costs and automation of complex processes leading to minimization of downtime through predictions of maintenance needs.
In retail environments, it can be applied to design more effective store layouts, recommend personalized shopping on user interfaces like Amazon’s “You May Also Like” suggestions, as well as handle stock management. AI is used by some applications like Instagram, Facebook, TikTok, Spotify, and Netflix use AI to recommend personalized content.
In manufacturing, AI solutions help to forecast load and demand in factories ensuring smooth and efficient running through the decision-making about logistics, planning, and timetable project completion. AI can be harnessed in many ways to perform a host of important processes in almost every sector of modern technology. The fact that it can perform tasks similar to human beings but at faster, more transparent, and more efficient rates makes AI a game-changing technology.
AI is technically the ability of a computer to act as a human. It is very important to the modern economy because it facilitates superior customer service through the use of chatbots. Improves accuracy and decision-making by collecting and interpreting data to make better decisions. Empowers employees by taking on mundane tasks and facilitates end-to-end efficiency in retail and manufacturing by eradicating fiction and improving analytics. AI is technically the ability of a computer to act as a human. It is very important to the modern economy because it facilitates superior customer service through the use of chatbots. Improves accuracy and decision-making by collecting and interpreting data to make better decisions. Empowers employees by taking on mundane tasks and facilitates end-to-end efficiency in retail and manufacturing by eradicating fiction and improving analytics. To get additional information about artificial intelligence, head on to our blog to access more content. You can also book Emmanuel Ekwedike PH.D. for a keynote address on artificial intelligence (AI) and machine learning (ML) technologies. He is a published researcher, dynamic keynote speaker, and notable consultant.
Emmanuel Ekwedike"Born and raised in Nigeria, this driven AI Research Engineer relocated to Queens, NY at 18 years-old, in pursuit of a higher quality tertiary education and more opportunities for a promising future."
