artificial intelligence in business technology AI

The Emergence of Artificial Intelligence In Business

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In a small amount of time, technology has fast become a part of everyone’s day to day life including businesses who utilise it; small and big alike.  It assists with getting tasks done much more efficiently and effectively; whether it’s for online learning or working from home, compact devices such as smart phones, tablets and laptops have made remote operations much more convenient.

Most recently, technological advancements have been taken one step further with artificial intelligence slowly being introduced into our lifestyles, and even though this emergence is in its early stages, it’s made daily activities easier to complete than ever before, impacting our lives in a way where daily errands such as shopping and banking can be done through automated services, so there’s no need to wait in time-consuming queues or carry around a purse full of money, when one can simply do this via automation and electronic means.

So what exactly is artificial intelligence? Artificial intelligence is a machine learning technology which is programmed to understand and mimic human action. Machine learning is required in order for artificial intelligence to automatically develop, learn and adapt to new data without the need for human assistance. The most common form of advanced artificial intelligence technology being available to users worldwide today is through social media platforms such as Facebook and Instagram. This facilitates with facial recognition and targeting users with personalised ads.

Robust artificial intelligence systems are also being introduced in businesses, for example the medical industry utilises artificial intelligence in order to assist in monitoring and analysing quality control for processes such as medical and pharma inspection solutions. IVS is a global provider of artificial intelligence developed systems for automated inspection. Established in the year 2000, they have grown to be one of the leading companies which supply and support artificial intelligence powered machinery in Europe. They also have an ongoing focus on researching and developing a wide range of technology as well as empowering businesses through efficient, flexible and cutting edge artificial intelligence powered machines in order to provide effective data analysis. This ensures that businesses produce high quality products and are able to detect defective products and error proof them before verifying them.

Other artificial intelligence powered systems available on the market are self-driving cars such as the popular Tesla vehicles. There are also artificial intelligence powered systems which work behind the scenes to provide us with the technology we use every day such as Cortana in the Windows operating system or the popular Siri in the Apple operating system. These are a great in-built tool to support users with the interface and offer a personalised experience.

Other artificial intelligence powered machines used in businesses vary from undertaking administrative tasks such as providing provisions using natural language processing in legal and contractual documents to much more detailed processes such as fraud detection and providing actuarial modelling in the finance and insurance industry. This has made a huge difference for businesses in terms of meeting clientele obligations and reducing processing time frames as well as decreasing labour costs due to the need for less employees and a rise in automated services.

Technology has greatly enhanced over the past decade and has improved our way of life in every aspect with artificial intelligence powered systems still being further developed, so let’s see what new revolutionary systems are introduced in the future and the continuing advantages it brings to businesses worldwide.

Until next time.

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