Much like the Internet in its time, AI will soon take the world by storm. AI, the science of self-
learning software algorithm, executes tasks otherwise typically performed by humans. Already
the centre of heated debate with regards to its impact, it is also making inroads into various
This increase in the use of AI in the last decades is not random. The vast improvements in computing power coupled with tons of data that is being produced and stored every day have made this possible. This coupled with advances in techniques like deep neural networks has made the use of AI not just possible but also practical and profitable.
Some of the applications of AI in businesses are:
- Automobile manufacturers like Tesla and Ford are incorporating AI into cars to make them fuel-efficient and semi-autonomous. This employs extensive use of sensors that collect data from the drivers. It can be used to check whether drivers are following traffic rules, monitor the health of drivers, check for damages within the car, etc.
- Companies like Uber are working on driverless taxis that can transport people without the need for drivers.
- Beauty companies are using AI to study skin problems to recommend appropriate products.
- In healthcare, AI is being used to quickly and accurately diagnose diseases from their symptoms without the need for a lengthy consultation process.
- Businesses can use AI to help sift through the huge amounts of data to quickly glean insights and help generate leads.
- Automation of mechanical tasks can decrease the need for employing more people and also increase the speed at which the business operates.
- Home appliances like Refrigerators, Washing Machines, Televisions, etc have also started incorporating AI capabilities to make them both power efficient and simpler to use.
- Chatbots are programs that talk like people. These are employed to offer simple customer service and decrease the load on their human counterparts. With the help of natural language processing these chatbots can be used to talk with people both over the phone and through texting.
- Speech recognition and translation AI can make communications between businesses from different countries or states which use different languages much smoother.
The biggest challenge that companies are trying to incorporate AI into their workflow face are the collection, organizing, and usage of data. Sometimes setting up these systems can take seizable time and investment on part of the business. And businesses might need to hire new employees for building and maintaining these systems and make sure that the transition to the new model takes place without any hiccups.
Nowadays, companies like Amazon, Intel, Google, Microsoft, etc even offer readymade solutions for businesses seeking the use of AI for their products and services. This will only increase the number of companies that start incorporating AI into their workflow to remain relevant and retain their competitive edge.
With all these developments and the continuing interest and growth in AI and its applications, it would we wise for any business to consider incorporating AI into their work process to reap its benefits.