You might have read many times that businesses should adopt Artificial Intelligence (AI) at the earliest to stay ahead of their competitors. This is to remain relevant and remain competitive in today’s continuously evolving world. But, how about we ask this question: What is the right time to adopt Artificial Intelligence?
What Is Artificial Intelligence?
Before diving into the myriad ways artificial intelligence can benefit business, first, let’s look at what it means to be artificially intelligent. Before you jump in headfirst, it might be best to think of “artificial” less like a robot version of yourself and more like any technology that would typically only reside within your computer or smartphone. This could be anything from Siri – Apple’s digital assistant – to complex algorithms that can determine patterns based on vast amounts of data points. These algorithms can then use those patterns to predict specific outcomes.
The most famous example of artificial intelligence is a machine that would process information and follow a set series of logical steps to come up with the correct answer – like this robot. But as you might imagine, it’s not anything new; we’ve been trying to make machines work outside the boundaries of their original purpose for quite some time now (like how your smartphone can play music or look up information on Google).
What Is Artificial Intelligence Good For?
As we mentioned before, there’s no shortage of ways that artificial intelligence can benefit business – but since we don’t want this article to run on all day long, let’s narrow our focus down and take a look at five of the most important ways that you can start utilizing AI.
Let’s talk about identifying patterns to make sense of data. For example, say you’ve got a chart full of statistics – maybe something like this one, but with different numbers – and you want to try to figure out what’s going on with it. Without artificial intelligence, you’d have to go through each statistic one by one and try to come up with conclusions by yourself. This usually isn’t very effective since there are too many variables at play, not enough time in the day, or both. Artificial intelligence takes all those numbers and separates them into categories, allowing for easier interpretation without making your head swim trying to keep everything straight. Once it identifies these patterns, it can then execute them to take specific actions.
Let’s bring this back to our example from before – let’s say you’ve got a chart full of different statistics about, say, your company’s sales pipeline, and you want to figure out why things might not be going well (or why they’re going great). That chart might look something like the one below. While you could go through each stat one by one looking for patterns or trying to make sense of data that isn’t very organized, artificial intelligence would quickly sort everything into categories like “sales made” and “not sold,” making the whole process much easier. Now all you’d have to do is look at what seems out-of-place and try to figure out why it might not be going as planned.
Let’s talk about finding the best way to solve a problem. You, me, or even the smartest men and women alive (or dead) can’t solve some problems. But if we’ve got computers like those found in “The Matrix” movies (which use artificial intelligence), we’d have an awfully good shot at solving them! That’s because they can analyze information from every possible angle with unimaginable speed – which is one reason they’re so invaluable for complex tasks like flight and traffic control.
When we talk about AI and its adoption, one thing which comes to mind is: Why now? No doubt, it has a plethora of benefits to offer, but simultaneously, it also brings fears. People fear automation taking over human jobs; they fear hackers stealing their data; technology is trying too hard for them and then breaking down. These fears are genuine and need to be tackled before companies thoughtfully ponder upon implementing AI systems as per RemoteDBA.com.
Over the past few decades, technology has indeed done us some good. But at the same time, it has also made some tasks difficult for humans to accomplish. For instance, making a call on your phone is so much easier now that you don’t have to memorize phone numbers or put them on hold while waiting for someone to pick up your call. And then there are self-driving cars which will own our roads in the not too distant future! All of this is excellent news, but one major issue stands out on top of these advancements: how can we make AI work with human effort?
What makes one think about AI implementation is its benefits of increased efficiency and reduced costs. It brings with itself data-driven decisions by using algorithms that can help reduce human errors. With one click, AI reads and analyses data from several sources that would have otherwise required time-consuming manual work by humans, resulting in higher costs in terms of manpower and resources.
At first glance, it might seem like fear is way too strong a word here, but it is not. The truth is that with every new invention comes great power, and with great power comes enormous responsibility (and some danger). There’s already enough news about cybercrime; imagine what could happen if hackers had Artificial Intelligence at their disposal! That will indeed be scary. However, on the other hand, there are significant risks involved leading to fears about the potential damage done either directly or indirectly through cybercrime or on account of system error.
Now that we have touched upon AI basics let us go one step further into its vastness and understand what AI is not. AI is not a system that does away with humans altogether. It is just a technological advancement that helps human effort by automating specific tasks to benefit both the parties – the machine and humans – working together. To put it differently, AI can help employees do their jobs better, and employees can guide machines towards doing their job more effectively, thus creating a win-win situation for both. If companies want to succeed, they will choose to use technology over labour any day because technology has been proven time and again to be more efficient than manual done by humans.
In today’s world, where companies are continuously struggling to outdo their rivals, it is high time we address this fear and adopt AI with conscious use of technology. To put things in perspective, if we don’t switch to Artificial Intelligence today, then tomorrow will be too late! Businesses should embrace AI because there’s no point staying behind competitors, and not adopting AI would be like committing suicide for your business.
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