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How Is AI Being Used In Business?

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Artificial Intelligence is bandied around the office. There’s plenty of information online, but is your business using it? If not yet, where could it be using it sometime soon?

Machine Learning, Biometrics, and Robotic Process Automation are in use right now and growing in popularity, not just with the big businesses but also startups, SMEs and everything in between.

Adext’s report included 19 AI Technologies to look for in 2019, and it’s well worth a read. In this article, we consider three types that mainstream business can no longer live without.

Listed in no particular order, you may have heard of these AL technologies, but you’re not aware of what they do or how businesses use them.

Where Business Is Using AI

Digital marketing & advertising, research and administration, are key areas of business that see a massive change with AI, specifically, these AI techs: RPA, Biometrics and ML. It’s no surprise the outlook is bright for Data Scientists in these areas that companies need to build data science teams to convert their data into helpful business insights.

Let’s now look at the areas using AI in more detail.

Machine Learning

A branch of AI, this tech has been around for a while.

Machine Learning (ML) develops techniques so computers can automatically learn and improve from experience. It’s used right now to predict and classify data; hence it’s been a game-changer for advertising platforms like Google Ads.

Analysis of vast quantities of data in quick-smart time while delivering accuracy has relieved many of us from jobs involving mundane, repetitive tasks.

ML gets its data from APIs, algorithms, other machines, and big data tools, to name a few sources, but not all machine learning algorithms are the same.

Machine learning algorithms:

  • Supervised – can apply what’s been learned to new data.
  • Unsupervised – explores data and describes hidden structures within datasets.
  • Semi-supervised – somewhere between the two mentioned above
  • Reinforcement – allows software and machines to pick the optimum response within a specific context to improve performance.

More detail found here: ML algorithms definitions.

There are many platforms available now, and you’ll know many of the companies in this space: Google, Amazon, Microsoft, and a few you may not know that well, including Adext and Skytree.

Biometrics

This AL tech is focused on improving communication and understanding between us and machines. It uses measurements and analyses human behaviour. Interactions, such as touch, speech, images and even body language, are in their sights.

Like ML, this is a big field of AI with huge potential, particularly in market research.

Robotic Process Automation

Think AI workers. That’s this technology. Robotic process automation (RPA) is another area of AI that’s a game-changer for employment, and many of the jobs we used to do, still do and will no longer do. Already RPA has found its way into many industries, and AI workers (machines) have replaced humans in the workforce.

Humans used to do the prosaic and repetitive tasks, which are now done in part or in full by machines. In areas of the business such as accounting, administration, customer support and help desks and websites, AI has found its place.

Chat Bot

The ‘chatbot’ is now ubiquitous on websites for products and services and online sales support. Here is a good read on how using a chatbot could benefit business and change the customer experience.

Live Chat is a more human form of the chatbot, and when you’ve experienced it, as a customer, your level of appreciation goes up a notch or two.

There is a flip side for businesses using live chat and chatbot tech. Customers now used to it will expect your business to deliver immediacy and efficiency every time.

With RPA, businesses see lots of upsides, with reduced overheads and improve productivity.

There have been some clever marketing for it, mainly to dissuade negative reaction from workers fearful of job displacement. Business and workers are encouraged to see it as a solution that promotes better use of human workers; though new roles that are infinitely more interesting and fulfilling, while also doing wonders to the company’s bottom line.

Summary

AI is everywhere, and depending on how you view your business, career and life, the future is either exhilarating or maybe a bit scary.  Whichever way you look at it, there’s no stopping these new technologies.

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