The Infiltration of Artificial Intelligence Techniques in Everyday Life and Business
Artificial Intelligence (AI), once merely a concept from sci-fi books, has now become integral in our daily lives and business operations. Everyday experiences, whether it’s the personalized recommendations on Netflix or the precise results from a Google Search, are all results of applied Artificial Intelligence techniques[1][2][3].
The Impact of AI Techniques on Business Processes
Artificial Intelligence Techniques are not just limited to personalizing viewing experiences or enhancing search results. They are now being adopted by numerous businesses looking to driving efficiency, make savvy decisions, strengthen customer relationships, and maintain a competitive edge[4].
Robotic Process Automation & Predictive Analytics: AI Techniques in Business
One notable application of Artificial Intelligence techniques in business is Robotic Process Automation (RPA). This AI technique handles monotonous tasks, freeing employees to focus on strategic duties[6]. Predictive Analytics, another AI technique, exploits historical and real-time data to provide detailed predictions, enabling businesses to react proactively and make data-driven decisions[7].
Challenges & Successes of Implementing Artificial Intelligence Techniques in Business
Despite the advantages, integrating Artificial Intelligence techniques into business processes comes with its challenges. Expensive infrastructure, employee education, along with privacy and security concerns, can be potential roadblocks[8]. However, advancements in AI techniques such as Machine Learning (ML) are proving advantageous by enabling systems to learn and improve from past experiences[9].
The Future: Artificial Intelligence Techniques and Business
Understanding the capabilities and limitations of AI is key to its effective application in business. These techniques can streamline operations, enhance customer experiences, foster data-centric decision-making and put businesses at the forefront of innovation[10]. With its dynamic and strategic alignment, Artificial Intelligence techniques are continuously reshaping the business landscape and paving the way for an exciting new era in technology[11].
References:
[1]”AI in Everyday Life: How Our Lives are Getting Altered?” DataFlair, https://data-flair.training/blogs/artificial-intelligence-in-everyday-life/
[2]”Google AI”, Google, https://ai.google/
[3]”Netflix Recommendations: Beyond the 5 stars (Part 1)”, Netflix Technology Blog, https://netflixtechblog.com/netflix-recommendations-beyond-the-5-stars-part-1-55838468f429
[4]”AI Is Transforming The Business Reality”, Forbes, https://www.forbes.com/sites/alastairdryburgh/2018/03/15/ai-is-transforming-the-business-reality/
[5]”The Role of Artificial Intelligence in Business”, Infosys, https://www.infosys.com/services/ai-automation/insights/role-of-ai-in-business.html
[6]”What is Robotic Process Automation”, UiPath, https://www.uipath.com/rpa/robotic-process-automation
[7]”Predictive Analytics in Business”, SAS, https://www.sas.com/en_us/insights/analytics/predictive-analytics.html
[8]”The Risks and Challenges of Implementing AI in Business and Society”, Emerj, https://emerj.com/ai-sector-overviews/risks-and-challenges-of-ai-in-business-implementation/
[9]”What is Machine Learning”, IBM, https://www.ibm.com/cloud/learn/machine-learning#:~:text=Machine%20learning%20(ML)%20is%20a,improve%20as%20experience%20increases.
[10]”Finding value in AI: From seeing to doing”, McKinsey, https://www.mckinsey.com/featured-insights/artificial-intelligence/finding-value-in-ai-how-to-get-from-seeing-to-doing
[11]”Top 9 Ways Artificial Intelligence Prevents Fraud”, Forbes, https://www.forbes.com/sites/forbestechcouncil/2021/01/19/top-9-ways-artificial-intelligence-prevents-fraud/?sh=26cb4a362501