How Artificial Intelligence (AI) can help businesses
The ascending heights of AI
Artificial Intelligence (AI) is yet reach the mainstream heights of VR and AR, especially with the Pokémon Go phenomenon. But it’s most certainly building some traction. In fact, some of us are already engaging with AI without realising it. Remember that annoying phone autocompletion or the automated chat service that strikes up a convincing human conversation? Yes, AI.
One of the most recent viral demonstrations of AI, is the Google Duplex upgrade of the Google’s voice-activated Assistant, which sounds like a human on the phone at the 2018 I/O Developer Conference:
Findings suggest that an astronomical $15.7 trillion figure is estimated to be added to the World’s economy by the year 2030.
What is Artificial Intelligence (AI)?
Simply put:
‘The capability of a machine to imitate intelligent human behaviour’
It’s been around since the 1950’s and in the dawn of the Millennium. Hollywood movies such as Steven Spielberg’s Artificial Intelligence back in 2001, hinted at the potential of AI.
Not to mention all of those frightening Arnie Terminator movies.
AI can work by taking data points and creating algorithms to produce a humanised outcome that people can relate to.
Artificial intelligence for businesses
AI may look more out of financial reach for most Entrepreneurs and Businesses, and may seem reserved only for those Silicon Valley Giants (Facebook, etc). This could imply how rare the tech and skillset is. AWS recently hosted an event in London on July 17th, which I was invited to, for developers and tech-business founders and entrepreneurs, encouraging the employment of AI technology. It’s just a matter of time when AI will be integrated more and more with our daily lives and businesses.
The costings to conduct an AI-based project are not as astronomical as people suspect. AI can be used in any industry, at any scale. There are bespoke AI solutions available for all kinds of businesses.
How AI can be used in business
Many uses for AI exist right now including:
?Smart email-marketing: If an email subscriber takes action A, or if the email AI detects a certain behaviour by that subscriber, action B will be triggered in response. Such uses of marketing can boost sales.
?Smart scheduling- Having an Ai personal assistant like X.ai can stop all of the back and forth between setting up and meetings, so you can focus more on doing what matters the most
?Smart customer sales- Being able to identify differences between sales staff and customer conversations, to better refine your sales force effectiveness (tools such as Talk IQ)
?Smart customer-service- Chatbots is one of the most common forms of AI out there. It’s essentially like having an extra member of staff working for you. Stats show that more than 50% of customers prefer an online conversation before a call.
?Smart HR- cut-back time on the recruitment process with tools like Talla
?And many more…
AI can be broken down into the following categories:
? Deep Learning
? Computer Vision
? Natural Language Processing
? Predictive Analytics
? Forecasting
? Customer Segmentation
?
To launch an AI project seems like Rocket Science, but it’s a fairly straightforward. broken into two stages: Discovery and Launch
Director at Logical Line Marking
6 年I’ve had a bit of experience in AI, great reading your view, you really know what you’re talking about.