Does Artificial Intelligence Make Business Easier?
The simulation of the human intelligence process that runs within the machine is known as Artificial Intelligence or Machine Intelligence. So, it can deal with various complex processes with predefined algorithms or with human-like intelligence within a matter of seconds. In addition to that, Artificial Intelligence (AI) is software that can analyze rules & patterns. Also, it recognizes machines, learning models, making results, and changes based on those analyses & decisions.
In early 1950, it was used for problem-solving & systemic methods. Hence, in 1960 humans began to train computers to mimic basic human reasoning Siri, Cortana &Alexa are known AI in modern days.
Four distinct categories of Artificial Intelligence :
Reactive AI – Although, it doesn’t have a memory that identifies the problem and makes a solution. But they can’t use past experiences to inform future ones.
Limited memory – It has limited memory so they can use the past experience to inform future decisions.
Theory of mind – Also, it has a theoretical mind that has social intelligence under emotion. So, they can interact with human intention and behavior.
Self-aware – This type of AI system has a sense of self thus it gives them consciousness but they do not yet exist.
Components of AI :
Natural language generation.
Types of Models-
Software/hardware for training and running models-
Parallel processing tools (like Spark).
Cloud data storage and compute platforms.
Programming languages for building models-
Advantages of AI :
Reduce the probability of human error.
Handle all mundane tasks, such as data entry and answering emails.
Available 24*7. Also, saves time and money.
Takes risks instead of humans.
Adopts through changes but progressive learning algorithms.
Take faster decisions and error solving capacity.
How a business is using AI :
Smart email categorization.
Automated responders and online customer support.
Sales and business forecasting.
Improves business marketing and advertising.
Automate Manage and analyze data.
Therefore, studies show that AI’s don’t perform well on their own. They look at things differently than humans. So, they don’t replace us, rather helps to speed up the process. Hence, the advantages and disadvantages are always part of new inventions. So, businesses can achieve great heights by combining the human mind and AI technology.