WEEK

How Artificial Intelligence will transform business

Artificial Intelligence

We often hear that Artificial Intelligence and Machine Learning will dramatically change business and will have a similar impact on it to that which happened due to, for example, the advent of electricity. It is unknown yet how many opportunities will AI create. Expectations of what Artificial Intelligence could be well used for are high.

It is already known that Artificial Intelligence will reach every industry. Manufacturing, transport, trade, finance, law, insurances, education are sectors with which changes began. Solutions based on AI and implemented so far show how much companies can improve their efficiency, and revenues, in effect. Companies expect that due to AI they will be able to maintain a competitive edge in the market.

Artificial Intelligence today

Even though discussion often focuses on the possibility of replacing humans by machines, generally one sees AI as a tool supporting humans. Today machine learning allows systems to analyze massive amounts of data in a far shorter time than a human. The results of the analysis are available virtually at hand and can answer almost all questions about that data. Companies use AI today for solving business problems. For example, BP built advisor that sends advises about adjusting drilling parameters to engineers based on all data from the drilling process. The Udacity company used AI to help in the sales process. It turned out that some employees were achieving better results than others. AI analyzed calls and identified what improved their efficiency. Afterwards, the company used that data for training other employees. Due to that results improved.

Increasing efficiency and effectiveness are today two main areas where Artificial Intelligence works well. By using it, companies can better perform particular tasks, improve processes and business models. Today AI complement human activity, and it is likely the way it’s going to be. However, there is no shortage of predictions that machines will ultimately replace human work.