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The future of business with AI
Mon, Feb 8 2021, Maya Angelou
“Intelligence is not a skill itself; it’s not what you can do, it’s how well and how efficiently you can learn new things.” - Gina Mandela.
Artificial intelligence (AI) is advancing out of research labs and into the business world. Leading companies harness their power to benefit from banks examining numerous data points in seconds to detect fraud to call centers deploying chatbots to enhance customer interactions. The recognition of AI in mainstream society might be a new phenomenon, but it is not a new concept. Though artificial intelligence was conceptualized in 1956, it took decades of effort to make notable progress in developing an AI system to make it a technological reality. In the business world, artificial intelligence has extensive uses. Most of us daily interact with an artificially intelligent system.
Artificial intelligence is not a replacement for human intelligence; instead, it is a support system. Although AI might not be good at completing simple tasks, it is skilled at processing and analyzing massive data sets compared to a human brain. Due to this quick process, business leaders, with the help of AI, can effectively resolve problems and take prompt decisions.
“Artificial intelligence is kind of the second coming of software,” said Amir Husain, founder and CEO of machine learning company SparkCognition. “It’s a form of software that makes decisions on its own, that’s able to act even in situations not foreseen by the programmers. Artificial intelligence has a wider latitude of decision-making ability as opposed to traditional software.”
These traits make artificial intelligence extremely valuable throughout many industries. Artificial intelligence is a vital associate when it comes to looking for loopholes in computer network defenses. With the escalating complexity of cyberattacks, cybersecurity specialists require additional assistance, and this where AI is playing a significant role. Perhaps the ideal tool developed might be AI, but just like everything else, it can have practical and unfavorable consequences. If AI can be used responsibly, transparently, and justly, it will be a boon for businesses advancing towards growth and building a better world.