There's been a lot of buzz surrounding artificial intelligence (AI). You've probably heard about AI or IBM's Watson on the news. AI is a new technology with quite a bit to offer, especially with assistance in the workplace. Its uses are endless. So, what exactly is it, and how is it useful to businesses?

What is Artificial Intelligence?

Artificial intelligence (AI) is "the development of computer systems able to perform tasks that would normally require human intelligence such as visual perception, speech recognition, decision-making, and translation between languages." It can help simplify everyday processes, but which type of AI is best suited for your business’s needs?

3 Categories of Artificial Intelligence

There are three major categories of artificial intelligence:

Artificial Narrow Intelligence

This is sometimes referred to as weak AI and is described as a type of artificial intelligence that specializes in one area. For example, there is AI that can beat the world champion in chess, but that's the only thing it does.

Artificial General Intelligence

This is sometimes referred to as strong AI or Human-Level AI and refers to a computer that is as smart as a human across the board.

Artificial Superintelligence

This refers to an intellect that is much smarter than even the best human brains in practically every field, including scientific creativity, general wisdom, and social skills.

Examples of AI in Business

Artificial intelligence is being used in business for a variety of purposes, a few of which include computational improvements/processing power, extremely large data sets, and to improve algorithms and implementations. While you might not realize it, AI can also help maximize workflows and increase overall productivity.

Just a few ways AI is used in business activities today include:

• Marketing automation
• Customer support chatbots
• Analytics
• Search optimization
• Social media

For example, when a business uses search optimization to help their company site rank high in customer searches, they are using artificial intelligence through algorithms. In addition, when a firm uses a program designed to make data-driven decisions and predictions based on available information, they are using artificial intelligence from machine learning.

Is AI used in large businesses or small businesses, too?

AI ranges from the calculator on your phone to self-driving cars. We use it all the time in our daily lives but don't always realize it. That being said, artificial intelligence is of interest to all company sizes, depending on what you are using it for.

Artificial intelligence is continually changing the business landscape. Everyday processes will not only be affected by but be transformed through artificial intelligence as it continues to evolve throughout the future. Businesses that are willing and able to implement these changes will be able to gain a competitive advantage going forward.

Can you use AI for daily work tasks?

The goal of AI is to build a system that thinks like humans. So, AI can support your daily working habits. For example, humans are prone to make errors. AI can greatly reduce the chances of human error to improve your business's efficiency and accuracy. In addition, humans perform many repetitive tasks that take up a lot of valuable work time. AI can help here too. AI can work on these tasks in a matter of seconds while also finding ways to make improvements.

Why Now?

There's been a big resurgence in the demand for AI. With advanced computational improvements and processing power, AI is even used in cloud services. Furthermore, AI processes extremely large datasets, which allows for faster deployment of new technologies.

IBM's Watson and Google's driverless cars have shown huge technological advances, and organizations are seeing significant improvements in algorithms that use machine learning.

Big Data is also driving the demand for AI now. Companies are using the cloud instead of physical servers. They're looking for advanced security to deal with huge cyber threats.

AI, machine learning, and blockchains show promise for advanced storage and security. That's driving the demand for AI to help businesses access information faster - and protect it.

Artificial intelligence can automate everything from customer support to social media and is helping with data entry and analytics, cybersecurity, and improved efficiency. AI can free up time to help you can work on value-rich projects so you can give your attention to your client and customers. If you have any questions, please contact us.