Artificial intelligence (AI) is not new, it has been around for decades. However, due to increased processing speeds and access to vast amounts of rich data, AI is beginning to take root in our everyday lives.
Artificial intelligence systems have applications in many areas. These technologies are essential for generating innovation, providing new business opportunities and changing the way companies operate.
What is artificial intelligence (AI)?
Artificial intelligence is a branch of computer science that focuses on the development of intelligent computers that can learn by themselves. The term ‘artificial intelligence’ is commonly applied to devices or applications capable of carrying out specific tasks in a human way, imitating cognitive functions such as the following:
- Learning
- Reasoning
- Problem resolution
- Visual perception
- Language understanding
What types of artificial intelligence exist?
Currently, there are two main types of AI:
- Applied AI. It is the most common modality and includes systems designed to intelligently carry out a single task, for example, guiding a driverless vehicle.
- Generalized AI. This type of artificial intelligence includes systems or devices that, in theory, can take care of any task, since they have enough intelligence to find solutions to unknown problems. This is a technology in very early stages of development.
Over the years, research in AI has allowed many technological advances, including some as well-known as purchase recommendations in an e-commerce, watching movies and series on an entertainment platform, virtual agents and chatbots, targeted advertising or autonomous driving.
Linked to the business field, artificial intelligence allows us to enjoy advances such as pattern recognition, voice recognition or predictive analytics. Many of which are now commonly used in organizations and offer solutions to a host of business challenges and complex problems.
How do business use artificial intelligence?
From workflow management to trend predictions, AI has many different uses in business. It also provides new opportunities for growth thanks to the innovation it fosters and the increase in efficiency in processes.
Depending on the type of AI technology, intelligent programs can perform specific individual tasks, such as controlling robots; or complex cognitive tasks based on your understanding of how certain things work.
Thus, artificial intelligence can be used, for example, with any of the following objectives:
- Improved customer service by using virtual assistant programs to provide real-time support to users.
- Workload automation, collecting and analyzing data from smart sensors or using machine learning algorithms to classify work or automatically route service requests.
- Optimization of logistics, planning transportation routes and adjusting inventory needs to demand.
- Increased efficiency in manufacturing, through the integration of industrial robots into the workflow to take care of routine or labor-intensive tasks.
- Prediction of online behavior, which allows you to launch tailored product offers, detect credit card fraud or personalize ads.
- Data management and analysis, to achieve a meaningful view of assets, brand, staff or customers.
- Improving the effectiveness of marketing initiatives by monitoring user behavior and automating routine tasks.
What are the business benefits of artificial intelligence?
Many companies use AI technology to reduce operating costs, increase efficiency, boost revenue, and improve customer experience.
In fact, the impact of artificial intelligence on business can easily be translated into profitability. Simply make the right technology choice and implement an AI solution to gain new capabilities such as:
- Saving time and money by automating routine processes and tasks.
- Boosting efficiency in operations and increasing productivity.
- Faster business decision making based on the results of cognitive technologies.
- Prevention of system failures and human errors.
- Effective prediction of customer preferences, allowing you to offer a better and more personalized experience.
- Business, workforce or product optimization.
- Increased revenue by identifying and maximizing sales opportunities.
Finding solutions to unexpected problems, responding to market competitiveness, or customer demand may be reasons to decide to consider AI.
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