Today, the role of artificial intelligence in an enterprise has become so important that it has touched every facet of business. Its role will become more critical in the years to come.
For the purposes of this article, let us define A.I. as follows. Human intelligence is learnt from experience. Machines so far have been primarily used to follow instructions, i.e. programmed, hence machines have provided automation based on rules.
A.I. is not programmed to follow rules, it is like human intelligence, learns from “experience”, i.e. data.
A.I. application in businesses today can be divided into 5 key areas:
- A.I. in data cleansing and streamlining.
- A.I. in BI—i.e. AI to replace business analysts in preliminary analysis on dashboards.
- A.I. in cognitive intelligence such as voice recognition, video analytics, face recognition.
- A.I. in natural interaction – chat bots, NLP, Natural-Language Generation (NLG).
- A.I. in expert systems—learning from myriad data sets and crystallizing an insight or action. This can be applied in classification of future unknowns e.g. fraud prevention, preventive maintenance. This can be applied also in forecasting quantities e.g. demand forecasting, supply shortage prediction. And can be applied in real time dynamic operations e.g. self-driving cars, dynamic digital marketing.
The original article was posted at Fortune India.
In support of positive AI development for human centric in the society, the Michael Dukakis Institute for Leadership and Innovation (MDI) and Boston Global Forum (BGF) established the Artificial Intelligence World Society (AIWS.net) in 2018. According to AIWS.net, AI can be an important tool for helping people achieve well-being and happiness, relieve them of resource constraints and arbitrary/inflexible rules and processes. In this effort, Michael Dukakis Institute for Leadership and Innovation (MDI) invites participation and collaboration with think tanks, universities, non-profits, firms, and other entities that share its commitment to the constructive and development of full-scale AI for world society.