A Quick Guide to Artificial Intelligence - Part 1

Everyone is talking about Artificial Intelligence (AI), many are discussing - but does everyone know what it really means? Why organisations should really do better in their own markets? Why politicians should care? Will people lose their jobs? Or will they get even better ones? This will be the first of a series of articles to explain some of today′s burning questions.

Vahé Torossian, President Microsoft Western Europe says that today, AI is helping to amplify our human ingenuity, opening up exciting new possibilities for how intelligent technology can shape our world. At Microsoft, our goal is to democratize access to AI for everyone through innovative & powerful platforms, & above all, we’re focused on ensuring that our AI tools & technologies are deployed responsibly & earn people’s trust.

Artificial Intelligence (AI) is not new. It has existed for decades: Processing voice to text or language translation; real-time traffic navigation; dynamically serving targeted advertisements based on personal data and Browsing history; predicting trends and Guiding investment decisions in financial institutions. The current developments have been fueled by an exponential rise in computing power, increasing accessibility and sophistication of powerful algorithms, and an explosion in the volume and detail of data available to feed AI’s capabilities.

Wikipedia states that Artificial intelligence (AI), (…) is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals. In computer science AI research is defined as the study of "intelligent agents": any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals. Colloquially, the term "artificial intelligence" is applied when a machine mimics "cognitive" functions that humans associate with other human minds, such as "learning" and "problem solving".

This ability will help companys to act more efficiently, will accelerate and ease processes and finally reduce costs. Therefore it is no surprise that as a result of a study performed by EY AI is expected to impact entirely new business areas in the future. 57% of the companies expect AI to have a high impact or a very high impact on business areas that are “entirely unknown to the company today”. This is almost as much as AI is expected to impact the core of these companies’ current business with 65% expecting AI to have a high or a very high impact on the core business. With AI presumably pushing companies into totally new domains in the future, it is perhaps not surprising that AI is receiving attention as a key topic for executive management.

So which technologies are meant when talking about AI? In the mentioned study a broad definition of technologies are included in this AI Definition:

Neural Networks and Deep Learning

Machines emulating the human brain, enabling AI models to learn like humans.

Computer Vision

Gives computers the ability to “see” images similar to how humans see.

Smart Robotics

The combination of AI and robots to perform advanced tasks compared to traditional non-intelligent robots.

Speech Recognition

Enables computers to interpret spoken language and to transform it into written text or to treat it as commands for a computer.

Machine Learning

A computer’s ability to ‘learn’ from data, either supervised or non-supervised.

Natural Language Processing

Computer interpretation, understanding, and generation of written natural human language.

Biometrics

Analysis of human physical and emotional characteristics – used also for identification and Access control.

Text Analysis

Computational analysis of texts, making it readable by other AI or computer systems.

Virtual Agents

Computer-generated virtual personas that can be used to interact with people in both B2C, C2B, and B2B contexts.

Have these in mind when listening or actively discussing AI. In the following articles I will discuss the 8 key capabilities that are most important ‘to get AI right’. I will discuss if more people will lose their Jobs or will get better jobs and how the future jobs will look like. I might also raise the curtain and give insights of how to best use consultative selling to enable organisations to achieve more with AI. Stay tuned.

Please note: Some info given in this article is based on a report which has been prepared by Ernst & Young LLP in accordance with an engagement agreement for professional services with Microsoft: "Artificial Intelligence in Europe"