Now, we are in the process of a constant transformation, when our physical world intertwines with the digital one offering magnificent opportunities to transform the way business runs.
The world-leading geniuses do their best to create the next generation of computers that think like human beings. Our gadgets can already analyze a large amount of data and simplify our lives, but they still can’t compete with the human brain.
Since AI development is a promising era in the business world, let’s consider what Artificial intelligence is and how it can drive business change.
What Does Artificial Intelligence Really Mean?
Still, most people consider AI as science fiction. The most popular reasons are:
- When people think of AI, they imagine films like “Terminator”, “I am a robot,” and others. They just don’t understand exactly what it is and perceive it as fiction.
- It is quite challenging to determine AI. The most popular definition is that AI is a technique which teaches electronic machines to learn in the way humans do.
- We come into contact with AI every day but don’t even realize it. It’s something unreal from the films or future, and it’s difficult to realize that it already is a significant part of our life.
The first thing to realize is that AI isn’t a robot. It is similar to the human brain. Virtual assistants like Alexa, Siri use artificial intelligence with machine learning features.
The artificial neural network takes the role of AI. It’s a subfield of machine learning where algorithms are inspired by the structure of the human brain. It’s based on the rules and functioning of biological neural networks.
Today AI can manage tasks like speech recognition and graphic image recognition and even win in some table games. Soon, algorithms based on AI are expected to handle most of the tasks giving entrepreneurs opportunities to focus on tasks that need higher intelligence, like the sales management process. The influence of AI on the labor market becomes a hot topic with the rapid development of relevant technologies.
Types of AI
There are three main categories of artificial intelligence:
- Artificial Narrow Intelligence. It represents AI that can do one specific task. For example, you ask Alexa or Siri to play music, and then you ask Siri to find the nearest Chinese restaurant. But you can’t ask them to clean the floor, for example.
- Artificial General Intelligence. This AI is similar to human brain work. It can complete all tasks people can do. Also, AGI can define tasks, schedule workload, deal with problems, match ideas, learn new things quickly, and use gained experience.
- Artificial Superintelligence. This AI surpasses the human brain in scientific inventions, social skills, general knowledge and may become smart enough to start running itself.
We are on the way to AGI utilization. ANI is in use today, so below, you’ll see a different way to implement Artificial Narrow Intelligence in real-life.
Advantages and Disadvantages of Artificial Intelligence for Businesses
Artificial intelligence became one of the biggest breakthroughs, and it’s going to affect business even more. It means that any process can and will be run by an AI today. Companies can use AI to perform multiple tasks, from social data analysis to logistic optimization.
Let’s discuss the benefits of artificial intelligence in different industries.
Transportation
Self-driving cars will become a reality in the nearest future. Engineers of such vehicles convenience users in their safety.
They report about driverless trucks and cars to prevent potential problems and doubts. For instance, AutoX has already launched a driverless RoboTaxi pilot in Shenzhen. It will be the first time people can order a completely autonomous car.
Household Chores
AI will be able to take household tasks like cleaning the house, delivering packages, providing security, and so on. Developers are working with AI algorithms to make it possible to perform such specific tasks.
For example, all of us heard about autonomous vacuum robots. So that’s, the new generation of AI robots will run a household without human guidance. Smart home apps with AI in-built make your home a better place to live.
Medicine
AI in medicine helps make individual plans for patients’ treatment and provides the doctors with all necessary information for the right decision making.
AI techniques integrated into electronic medical cards, allowed doctors to store all data about the patient’s diseases and services providers. Moreover, some mobile apps can examine your general condition, give information about symptoms, measure blood pressure, and other activities.
Educational system
Today, many organizations make significant investments in AI development to implement advanced technology in schools’ educational process.
For instance, the Ozobot robot lets children playfully immerse themselves in back-end web development using a special mobile app.
AI bots help children learn foreign languages using the system of speech recognition and neuro-linguistic programming methods.
The SHERLOCK app prepares future aircraft mechanics to find defects in the electrical systems of the airplane. Many robots will communicate with people and even emotionally support them. You can’t get the same experience from ordinary textbooks, for example.
Everything seems to be perfect, doesn’t it? However, artificial intelligence projects have some disadvantages businesses should keep in mind.
According to world statistics, robots could replace 250,000 public sector workers in Great Britain by 2030. As a result, the development of artificial intelligence not only tips the workforce balance market but also threatens the well-being of the middle class.
Researchers are concerned about the influence of artificial intelligence on the global economy. The point is that artificial intelligence could obliterate many professions in the future.
Rise against machines
Machines do not simply replace workers, they manage the tasks much better. And this is only a small piece of the AI revolution. AI development is expected to revolutionize all sectors of the economy. New artificial intelligence technologies rebuild all fields of knowledge.
These circumstances make many people think of the idea of creating a stable basic income. In turn, stable income won’t encourage people to start their own business or practice other activities that cause the necessity to create additional work positions.
However, stopping AI’s development will be a big mistake since advanced technology gives a wide variety of business opportunities. It is impossible to stop the development of AI and machine learning since it breaks the unwritten rules of the development of science.
Only imagine that the government of one country prohibits any research in this area. This way, the workforce market will be in danger since the other countries will have a chance to conduct ongoing AI development. Therefore, it is not reasonable to stop this process. But, it should be taken under control to stop the unethical use of AI.
AI Future: Smart Software is Everywhere
Artificial narrow intelligence based on self-improvement features. But even if scientists create AI without this feature, it will be able to learn by itself when it reaches a human intellectual level. As a result, automated intelligence will transform into superintelligence that surpasses the human brain.
At the same time, AI is an integral part of our daily life and makes our life better. Your Google Assistant or Siri can find an appropriate route for you by learning your daily schedule. Artificial intelligence analyzes your personal preferences and interests and provides interesting news or weather forecast.
In fact, many entrepreneurs tend to create apps for their businesses with in-built AI features to personalize interactions with customers and present more relevant experiences using recognition software, chatbots, smart analytics, and many other available features. In contrast, some companies find AI hard to implement or even imagine. However, it’s a great choice to stand out from competitors and take the customer’s engagement to the next level with tailor-made digital experiences.
Bottom Line
You’ve got acquainted with the fundamentals of AI use in business. In case you need to know more, you can apply to an experienced software development vendor. The vendor’s specialists will answer the most disturbing business questions of yours, and help you build a modern AI-based digital product, which will be profitable, sustainable and attractive for customers.