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Artificial intelligence is alive and well already, and it is impacting business every day. In fact, there is a high chance that everyone interacts with AI daily without realizing it. When people think about AI, they may immediately turn to science fiction dystopias, but that is a dramatized version of what AI truly is. Some may be surprised to know that AI is not a new concept, but it has just recently begun to be accepted in mainstream society and has shown to be making some changes to how businesses run.
What Is AI?
Firstly, we want to understand generative ai before considering how it impacts business. The term "artificial intelligence" is broad and refers to any computer software that immerses in humanlike activities, such as learning, problem-solving, and planning.
Machine learning is one of the most common types of AI developed for business today. It is mainly used to process extensive amounts of data at a rapid pace. These AIs are the ones that appear to learn over time. Another type of AI is known as deep learning, an even more specific version of machine learning dependent on neural networks to encounter nonlinear reasoning. This includes fraud detection.
AI and Business
Now that we better understand what AI is and the two types, it is time to understand AI and how it affects business. Many may believe that artificial intelligence will replace human ingenuity and intelligence, but AI is mainly seen as a supporting tool in business. Currently, AI has a difficult time completing commonsense tasks when they are in the real world.
AI is proficient at processing and analyzing the accumulation of data faster than any human brain could. Then they return that data with synthesized courses of action and present them to the human user. By doing this, we can use AI to help weed through all the possible consequences of each streamlining and movement of the decision-making process. Whether AI performs a complex task, such as monitoring a wind turbine to predict potential repairs, or something as simple as helping visitors or staff make their way around a corporate campus, AI is extremely valuable in many industries.
Common AI Uses
Besides machine learning, AI is commonly used for cybersecurity. It can look at holes in a computer to find any potential cyberattack or other cyber threats. It can detect this by monitoring patterns from the data input. Once a threat is detected, it will backtrack through the data to find the source and prevent it from happening again.
AI also uses a large amount of data to recognize patterns in what people search for and then provide them with relevant information based on that. As people use their devices more, they will discover that through AI, they are getting a better-personalized experience as they scroll on their devices.
One final common use for AI is the creation of digital personal assistants. AI is not only there for the customers, but it can also transform how a business operates on the inside. AI bots can now be used as personal assistants that manage emails, maintain calendars, and recommend streamlining procedures.
The Future of AI
AI has already made leaps and bounds regarding how it will affect businesses, but it is hard to determine how it will be used in the future. Many experts predict that AI will be used for more "commonsense" tasks making it easier for computers to process. It has also been expected that AI will take digital technology from a two-dimensional screen and instead become the physical environment surrounding a person.
It is clear that AI is here to stay and be a part of the future of business.