Artificial Intelligence (AI) in Business is used to amplify human skills and will be increasingly present in several areas. According to Statista, the global value of the AI market will exceed more than $89 billion by 2025.
A significant percentage of this value will be achieved as AI and Cloud Computing integrate. Herein lies the paradox that AI is fueling the pace of change and the need for human skills and creating a dependency scenario with other technologies.
However, we must remember that Artificial Intelligence is not just about the technology itself but how technology can be leveraged to help create immersive and unexpected human experiences.
This article will cover the aspects, types, advantages, and applications of Artificial Intelligence in business. Enjoy the content!
What Is Artificial Intelligence?
Artificial Intelligence technologies have transformed companies’ resources worldwide, allowing humans to automate time-consuming or repetitive tasks and gain insights into specific data about activities.
Artificial Intelligence, in a way, is the simulation of human behavior and thinking by a machine, with programmable systems functions that include planning, learning, reasoning, problem-solving, and decision making.
AI systems are powered by algorithms using techniques such as Machine Learning (ML) and Deep Learning (DL).
ML algorithms feed computer data to Artificial Intelligence solutions, using techniques that enable learning and make program tasks even more accurate. On the other hand, DL uses more complex algorithms, following neural networks to replicate functions of a human brain with more fidelity.
Advantages Of Artificial Intelligence In Business
Many companies adopt artificial intelligence (AI) technology to reduce operational costs, increase efficiency, increase revenue and improve customer experience.
Organizations should consider putting the full range of intelligent technologies — including machine learning, natural language processing, and more — to reap significant benefits like:
Innovation is one of the main benefits of Artificial Intelligence, which, through its algorithms, helps businesses to react in real-time to market trends, consumption patterns, or even failures during processes.
In this way, companies can have more control over their needs and optimize their technological infrastructure.
AI influences the automation of tasks and provides their performance more accurately. Therefore, tasks such as placing orders to keep stocks stocked or finding suppliers are more assertive.
Consequently, companies can maintain the quality of their services in any market.
Another benefit that should highlight is that Artificial Intelligence in business aims to revolutionize people’s work.
In everyday life, failures are widespread, but AI makes it possible to avoid or correct them. Thus, systems developed with this technology reduce rework. By using these tools, a business reduces the time dedicated to a particular activity and boosts performance and productivity.
Types Of Artificial Intelligence
AI-controlled computers and machines could replace various human tasks — from managing a house to driving cars and more — with pattern recognition and taking actions through data extraction.
For these processes, there are different types of AI, such as ANI (Artificial Narrow Intelligence), AGI (Artificial General Intelligence), and ASI (Artificial Super Intelligence). Check out the characteristics of each one below.
Limited Artificial Intelligence (ANI)
ANI is also refer to as Narrow AI or Weak AI. This artificial intelligence mainly focuses on a narrow task with a limited range of skills. This technology is present in our daily lives through virtual assistants Siri, Cortana, and Alexa, for example.
Artificial General Intelligence (AGI)
AGI technology is the main objective of studies on Artificial Intelligence, as it seeks to simulate human reasoning and intellect with the same complexity as the brain. This concept will address in science fiction works such as Sonny the robot in the 2004 movie “I Robot.”
ASI refers to AI technology that will surpass the human mind. To be classified as such, the technology would have to be more capable than a human in every possible way. With that, these solutions would not only be able to accomplish tasks, but they would also be able to have emotions and relationships.
Artificial intelligence In Business
The use of Artificial Intelligence greatly amplifies the business world. As we have seen, this technology automates business processes, prevents fraud, helps obtain and analyze data, and interacts with the target audience.
In this way, successful companies use AI features like Automation, Big Data Analytics, and NLP (Natural Language Processing) to gain insights from their business and make them more efficient for their customer base. In addition, we can consider that its application is a growing trend and will apply to tasks such as:
- customer service;
- personal assistants;
- recruitment and hiring of employees;
- predict vulnerabilities and strengthen digital security;
- market forecasting and customer analysis;
- financial activities;
- marketing insights and social networks.
Cloud Computing And AI
Integrating Artificial Intelligence with cloud computing solutions allows companies to become more agile, flexible, and cost-effective. The combination of technologies allows for additional flexibility, helps manage large data repositories, optimizes data, and improves workflows.
In addition, unifying the operations of each technology allows you to transfer the operational burden from processes. And people to engineering and data.