What is AI?
Before examining how AI technologies are impacting the business world, it’s important to define the term. “Artificial intelligence” is a broad term that refers to any type of computer software that engages in humanlike activities – including learning, planning and problem-solving. Calling specific applications “artificial intelligence” is like calling a car a “vehicle” – it’s technically correct, but it doesn’t cover any of the specifics. To understand what type of AI is predominant in business, we have to dig deeper.
Machine learning
Machine learning is one of the most common types of AI in development for business purposes today. Machine learning is primarily used to process large amounts of data quickly. These types of AIs are algorithms that appear to “learn” over time.
If you feed a machine-learning algorithm more data its modeling should improve. Machine learning is useful for putting vast troves of data – increasingly captured by connected devices and the Internet of Things – into a digestible context for humans.
For example, if you manage a manufacturing plant, your machinery is likely hooked up to the network. Connected devices feed a constant stream of data about functionality, production and more to a central location. Unfortunately, it’s too much data for a human to ever sift through; and even if they could, they would likely miss most of the patterns.
Machine learning can rapidly analyze the data as it comes in, identifying patterns and anomalies. If a machine in the manufacturing plant is working at a reduced capacity, a machine-learning algorithm can catch it and notify decision-makers that it’s time to dispatch a preventive maintenance team.
But machine learning is also a relatively broad category. The development of artificial neural networks – an interconnected web of artificial intelligence “nodes” – has given rise to what is known as deep learning.
Deep learning
Deep learning is an even more specific version of machine learning that relies on neural networks to engage in what is known as nonlinear reasoning. Deep learning is critical to performing more advanced functions – such as fraud detection. It can do this by analyzing a wide range of factors at once.
For instance, for self-driving cars to work, several factors must be identified, analyzed and responded to simultaneously. Deep learning algorithms are used to help self-driving cars contextualize information picked up by their sensors, like the distance of other objects, the speed at which they are moving and a prediction of where they will be in 5-10 seconds. All this information is calculated at once to help a self-driving car make decisions like when to change lanes.
Deep learning has a great deal of promise in business and is likely to be used more often. Older machine-learning algorithms tend to plateau in their capability once a certain amount of data has been captured, but deep learning models continue to improve their performance as more data is received. This makes deep learning models far more scalable and detailed; you could even say deep learning models are more independent.
AI and business today
Rather than serving as a replacement for human intelligence and ingenuity, artificial intelligence is generally seen as a supporting tool. Although AI currently has a difficult time completing commonsense tasks in the real world, it is adept at processing and analyzing troves of data much faster than a human brain could. Artificial intelligence software can then return with synthesized courses of action and present them to the human user. In this way, we can use AI to help game out pfossible consequences of each action and streamline the decision-making process.
“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.”
Those traits make AI highly valuable throughout many industries – whether it’s simply helping visitors and staff make their way around a corporate campus efficiently, or performing a task as complex as monitoring a wind turbine to predict when it will need repairs.
Common uses of AI
Some of the most standard uses of AI are machine learning, cybersecurity, customer relationship management, internet searches and personal assistants.
Machine learning
Machine learning is used often in systems that capture vast amounts of data. For example, smart energy management systems collect data from sensors affixed to various assets. The troves of data are then contextualized by machine-learning algorithms and delivered to your company’s decision-makers to better understand energy usage and maintenance demands.
Cybersecurity
Artificial intelligence is even an indispensable ally when it comes to looking for holes in computer network defenses, Husain said. Believe it or not, AI systems can recognize a cyberattack, as well as other cyberthreats, by monitoring patterns from data input. Once it detects a threat, it can backtrack through your data to find the source and help to prevent a future threat. That extra set of eyes – one that is as diligent and continuous as AI – will serve as a great benefit in preserving your infrastructure.
“You really can’t have enough cybersecurity experts to look at these problems, because of scale and increasing complexity,” Husain added. “Artificial intelligence is playing an increasing role here as well.”
Internet and data research
Artificial intelligence uses a vast amount of data to identify patterns in people’s search behaviors and provide them with more relevant information regarding their circumstances. As people use their devices more, and as the AI technology becomes even more advanced, users will have a more customizable experience. This means the world for your small businesses, because you will have an easier time targeting a very specific audience.
“We’re no longer expecting the user to constantly be on a search box Googling what they need,” Rahnama added. “The paradigm is shifting as to how the right information finds the right user at the right time.”
Digital personal assistants
Artificial intelligence isn’t just available to create a more customized experience for your customers. It can also transform the way your company operates from the inside. AI bots can be used as personal assistants to help manage your emails, maintain your calendar and even provide recommendations for streamlining processes.
You can also program these AI assistants to answer questions for customers who call or chat online. These are all small tasks that make a huge difference by providing you extra time to focus on implementing strategies to grow the business.
