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Artificial Intelligence & Today’s Business

Artificial Intelligence & Today’s Business

Artificial Intelligence & Today’s Business

1) Introduction

Artificial Intelligence (aka AI) is nothing, but a branch of computing that deals with the simulation of intelligent behavior in machines and devices that are specially designed and programmed to think and work like humans and imitate their actions.

While AI’s integration within the mainstream society is undoubtedly a unique phenomenon, it’s not a new concept. The concept of AI became manifest in 1956 however, it took decades of labor to scientists and researchers to form important progress toward developing an AI system and making it a reality. In today’s business, AI features a wide selection of uses. In this article, we will discuss how AI has brought revolutionary changes in today’s business.

2) Types of Artificial Intelligence:

There are three types of Artificial Intelligence:

Weak or Narrow AI:

Weak AI or narrow AI (aka Artificial Narrow Intelligence (ANI)) is the only type of AI we have positively appreciated to date. Weak AI is a result-driven system, designed to perform single tasks or activities – i.e. speech recognition/voice assistants, driving a car, facial recognition, or searching the internet – and this system is very quick-witted at executing the specific task it is designed to do.

Examples of Weak AI:

  • Alexa by Amazon, Cortana by Microsoft, Siri by Apple, and other virtual assistants
  • Manufacturing and drone robots
  • Self-driving cars, etc.

 

Strong AI:

Strong AI (aka Artificial General Intelligence) is an ultimate concept of a machine with general intelligence that imitates human behaviors and/or intelligence, with the potential to grasp and apply its senses to solve any problem. Strong AI can think, acknowledge, and react in such a way that is indiscernible from that of a human being in any given condition. Though scientists & AI researchers haven’t yet achieved strong AI, they are trying their best to make machines dotted with a full set of cognitive abilities.

Artificial Super intelligence (ASI):

Artificial Super Intelligence (ASI) (aka Super AI), is the conjectured AI that not only copies or understands human intelligence & behavior, but it’s also an idea wherein machines/computers become self-aware and supersede the capacity of human intelligence and skill and may perform a task better than human with cognitive properties. Super AI or Artificial Super-intelligence remains an imaginary concept of AI and the development of such systems in the real world remains a perplexing.

3) AI’s existence & how it helps in today’s business

Many people, a number of us also still associate AI with fantasy dystopias, but that personation is waning as AI is developing and becoming more commonplace in our daily lives.

In today’s business, AI features a wide selection of uses. In fact, most of us interact, I and you as well, interact with AI in some or another form regularly. From an ordinary to the spectacular, AI is already playing havoc with virtually every business process in every industry. As AI technologies proliferate, they’re becoming important for businesses aiming to acquire advantages over their competitors.

Here’re some of the applications of AI in today’s business:

  • AI can help in fraud detection
  • AI can help in managing data security
  • AI can help in marketing
  • AI can assist with security screening
  • AI can help in online search
  • AI can help in language mining, etc.

 

4) How AI is going to affect the future of business

From SIRI (A virtual Assistant) to self-driving vehicles equipped with AI functionality, AI is evolving in such a way that sparks human characteristics to the next level. And, in the same way, AI will be going to spark the way businesses used to do the commonplace tasks. Check these points to know more in detail:

Market & Customer Insights:

Artificial Intelligence can play an important role when it comes to analyzing the market and your customers.

Virtual Assistance:

Many companies not only in the UAE but all across the world are either using or planning to use AI for virtual assistance.

Process Automation:

Since the last few decades, Automation is the one thing which is continuously rising and AI will definitely be going to bring a revolutionary change in process automation.

Efficient Sales Process:  

Sales approaches and methods have moved far from doing cold calling to the customers and sending long emails.

Personalized Customer Experience:

AI allows businesses to provide a more personalized experience to their customers by using the latest and greatest technologies.

Whether you know it or not, AI is a part of business management and that’s the reason why students have started opting for programs such as a higher national diploma in business management and computing and many others to get a clear insight of AI and its role in the growth & management of a business.

If you’re also looking forward to doing a business management course in UAE, I would recommend you to opt for an institute that has a pool of expert professionals who know every bit of business management and AI as well.

If you’re really looking forward to pursuing any kind of business management course. you must explore the foundation course in Dubai as there are so many well-known institutes in the city.