Artificial Intelligence in business

What is Artificial Intelligence?

Artificial Intelligence (AI) is a simulation of human intelligence that is programmed into a machine to think and act like a human being. Although these systems perform tasks that are associated with the human cognitive mind, most of the machines that are programmed to perform AI functions are smarter than the capabilities of the human mind. AI can enable computers to perform various functions including analysing data, creating recommendations, translating languages, and making predictions and this really is just scratching the surface of what it can do. AI systems typically process huge amounts of data and look for patterns in this data to model their decision making.

Today, AI is widely used in a variety of ways, with many of us using AI on a day-to-day basis. For example, AI is used in Apple’s Siri on an iPhone, Amazon’s Alexa, Google Translate and ChatGPT. However, there are many other ways that AI is used to benefit businesses across the world.

‍Examples of how Artificial Intelligence is used in business.

Below are just a few of the ways AI can be used in business:

Customer service

Without even realising, most people are using AI on a day-to-day basis. One of the most popular ways businesses are using AI is for improving customer service. An example of this is through using Chatbot functionality on the websites. This function allows companies to streamline their customer service processes and save employee’s time and businesses money. The customer would usually click on different options during the chat via the Chatbot function which would either solve their problem or help route them to a real-life representative to help them resolve their issue.  

‍Email campaigns

With almost every company using email campaigns in their marketing strategy, AI solutions are a great tool to use to save time and energy. For example, there are AI solutions on the market that can help to monitor, categorise, and file email responses in whichever way you wish and assist you in flagging the most urgent and relevant requests to follow up.

‍AI for creating graphics

Not only is AI good for data entry, AI can also be used to create art, music, poetry and computer graphics. Designers can use AI to create dozens of templates in a variety of colours and shapes all from one simple sketch, but that’s not all. Creators can also type in simple words to convey a specific feeling and AI will generate an image relating to this. If this is not the image you hoped for, you can simply modify your text input and AI will create another image.  

Improve safety

AI can be used in various industries to help improve the safety of their operations. For example, in the construction industry, AI is used to gather data from cameras, thermometers, motion detectors and weather sensors to help identify any problematic behaviours or forecasts for dangerous conditions to make recommendations to companies to provide a safer workplace for their employees.

Identifying fraud

For the financial industry, AI can be used for detecting fraud or detecting any threats of fraud. Specific tools can be put in place that help to identify any transitions that look suspicious through machine learning algorithms. This then alerts the financial company and helps to put a stop to a fraud offence being carried out.

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