In recent times artificial intelligence (AI) has generated quite a bit of talk and debate surrounding its rise and what appears to be the taking over of tasks once performed by human beings.
Does this spell the end of the need for human beings in employment-related tasks, that are now being redistributed to their machine counterparts?
What is artificial intelligence exactly? What are the benefits of ai in today’s world? How does it help businesses in today’s modern world?
We shall examine these and many other questions as well as look at answers given as we delve into this topic of ai.
With the rise of sophisticated algorithms, cloud technology, and advances in data analytics, businesses are beginning to capitalize on the potential of AI to transform the way they operate.
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AI (Artificial Intelligence)… | A Definition
According to an article published by IBM, here is one definition given to ai.
At its simplest form, artificial intelligence is a field, which combines computer science and robust datasets, to enable problem-solving. It also encompasses sub-fields of machine learning and deep learning, which are frequently mentioned in conjunction with artificial intelligence. These disciplines are comprised of AI algorithms which seek to create expert systems which make predictions or classifications based on input data.
There are many other ideal definitions of artificial intelligence that you’ll find strewn all over the internet but I think you’ll get the point plus as we go into the 5 ways ai will transform businesses, you will understand it better.
So just how exactly will artificial intelligence transform businesses you ask? Well, these are the 5 ways in which we shall discover just how this feat will be accomplished.
- Improved decision making
- Security Solutions
- Smarter workplaces
I shall endeavor to provide relevant examples within each section to give a clear and precise understanding of what is being discussed so you can better appreciate ai for what it is.
Examples Of Artificial Intelligence
Here are a few examples of ai that we tend to use but may never have given thought to the term ai being applied to them.
- Manufacturing robots.
- Self-driving cars.
- Smart assistants.
- Healthcare management.
- Automated financial investing.
- Virtual travel booking agent.
- Social media monitoring.
- Marketing chatbots.
AI is definitely all around us. On Builtin.com here is a review of some 31 top ai examples you should know.
1 AI Will Transform Businesses Through… Automation
Let’s start by identifying the fact that there are several types of ai being used in today’s world that you might have just taken for granted as some new strange technology.
Virtual assistants, image analysis software, search engines, and speech and face recognition systems are all forms of ai but are depicted or found in software applications.
“Embodied” such as robot with artificial intelligence, autonomous cars, drones, Internet of Things are what form the other types of ai. So automation is what we want to focus on for now.
One of the most fundamental ways AI will be transforming businesses by 2023 is automation. Automation can be used to speed up or replace certain business tasks that would otherwise require a human touch.
AI-driven automation will help businesses become more efficient, productive, and cost-effective by automating certain processes like customer service, marketing, and finance.
I have linked to several articles all focused on the relationship between ai and automation to give you the best possible understanding of the topic and you will agree will transform how business is conducted.
2 AI Will Transform Business Through Improved Decision Making
AI-driven analytics will offer businesses the ability to make informed and accurate decisions based on real-time data.
By 2023, AI-driven analytics will be more advanced and powerful than ever, providing businesses with copious amounts of data on customer behavior, market trends, and competition.
With AI-driven analytics, businesses can make real-time decisions backed by real data for improved customer experience and making decisions.
3 Now Let’s Consider Security Solutions & Artificial Intelligence
In 2023, AI will be used to provide businesses with robust security solutions.
By that time, AI-driven security systems and networks will be more complex and intuitive than ever, providing improved malware and virus protection, facial recognition systems, and other advanced security measures.
Here are some other examples of ai and security solutions.
4 Artificial Intelligence and Personalization
Personalization will be one of the ways that ai will transform businesses by the end of the year.
In 2023, artificial intelligence will enable businesses to provide personalized products and services, created for individual customers. With an increasingly personalized, and valuable customer experience, businesses will be more responsive and valuable.
As we see the first real-world implementations of personalized experiences and the future of artificial intelligence, it is an exciting time to be in this space.
AI-driven personalization is also known as “human-in-the-loop” or “personally-involving” marketing because it involves human agents interacting with the machine.
Personalization Does Not Necessarily Replace Human Beings
AI-driven personalization differs from other forms of digital personalization because it doesn’t replace humans but augments their role.
People can make better decisions, improve customer service and satisfaction, and engage with customers more effectively with the help of artificial intelligence.
Artificial intelligence-driven personalization has been around for a while. It has been around for more than 20 years. The technology is poised to take off, as it has become more robust and advanced in the past few years.
Artificial Intelligence-Driven Personalization
Digital personalization that uses artificial intelligence to deliver targeted content and offers to individuals is called artificial intelligence-driven personalization.
With AI-driven personalization, a company can collect data from its customers and use it to make recommendations for those customers, based on their interests, preferences, location, and more.
It can then communicate these personalized messages via email, text messages, mobile app notifications, social media, and so on.
For example, a business might send out a personalized coupon for a customer’s favorite restaurant.
The business could also use AI to analyze the customer’s purchase history to find out which restaurants they like, and use that information to make future recommendations.
A company can also use AI to automate many processes that would otherwise require human interaction.
For example, an e-commerce company might use AI to automatically detect when products are about to sell out, and send out a notification to the customer’s email or mobile phone to inform them.
In addition to making recommendations and automating processes, AI can also help with fraud detection and customer service.
5 Smarter Workplaces
Businesses will be able to provide more efficient and time-saving services by the end of the year. Artificial intelligence-driven scheduling and task management systems will enable businesses to stay organized, manage projects more efficiently and automate mundane tasks.
Virtual assistants will be available to answer questions and assist employees. Students will be able to gain skills in a variety of fields with the use of artificial intelligence.
Students will be able to learn languages, master math, and build their own apps with the help of a virtual tutor. With the rise of Artificial Intelligence, healthcare will be more convenient and affordable.
Wearable devices and personal health records will allow patients to track and manage their health in real-time
AI will transform transportation in the coming decades. It will change lives for the better, and it’s a good time to get involved.
In a few years, AI-enabled self-driving cars will eliminate traffic jams, accidents, and even human drivers.
Self-driving cars will be safer than human drivers, as they will be able to detect obstacles and other vehicles and avoid them, and can even slow down or stop in order to avoid collisions
AI will play an important role in the energy industry, helping companies to monitor and manage their operations more efficiently, thus improving the quality of services they provide.
AI-powered devices are helping power plants run more efficiently, and AI-enabled batteries are providing a clean and safe source of electricity for homes and businesses.
Amazon’s AI technology is already having a major impact on the retail industry. Actually, AI has already had a major impact on the retail sector.
With the introduction of AI-enabled facial recognition, shoppers don’t have to lug around bags or search for products at checkout. This technology will also have a huge impact on the delivery industry.
Artificial intelligence-powered robots will be able to do deliveries much more quickly and accurately than human drivers. Artificial intelligence will also have a major impact on the legal system.
AI-powered search engines could be used to identify information that could be relevant to court cases. Judges and lawyers should use the following search engines to find out about relevant information from the masses of data available on the internet.
As We Wrap Up | The Conclusion
These are just a few ways that AI will be transforming businesses by 2023. By the end of the decade, we could be seeing even more exciting advancements in AI technology, giving businesses an unprecedented level of agility, efficiency, and productivity.
AI is inevitable and is definitely the way of the future.
With the rapid development of AI, it is predicted that by 2025, almost half of all retail sales will be influenced by AI (Gartner).
In fact, in the past year alone, there has been a significant increase in the number of retailers who are adopting AI into their business models.
Just recently one of the online businesses that I am aware of stepped up its game by introducing artificial intelligence into its arsenal of tools.
That tool is Emerson by the way and it is a really cool piece of software. It is similar to a number of other ai software tools the likes of Jasper and Closer’s Copy.
Emerson by the way is only available through the HBA academy and you can check them out here.
Bloggers who find themselves staring at a blank page looking for that much-needed inspiration or even marketers who might be having a bit of writer’s block when it comes to writing email sequences.
What about sales copy for ads or even sales pages for products being promoted for sale? Content for websites and a whole lot more, you name it, and ai can take care of it.
We are living in the age of smart machines, and we need to make sure that they are able to learn and interact with us in a friendly manner.
We have traveled a long way when it comes to the role that ai plays in our everyday lives.
And with the likes of Alexa or Siri and even our smartphones or smart TVs, the best is yet to come.
This will create an entirely new experience for both businesses and consumers. All we have to do is to welcome and embrace it. AI is truly the internet of things.
I do hope that this article has given you some perspective on what ai is all about and how it is interwoven into our lives.
While many are still unclear and see ai as a potential threat to our livelihood, it cannot be overlooked.
Whether we care to admit it or not, we do need the inclusion of ai.
Just like there can be an abuse or misuse of anything good, we only need to be careful that the same is not said or done where ai is concerned.
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