AI is the new buzz word in tech circles. Artificial Intelligence effectively contributes and builds on human intellect, delivering far-reaching and data-driven solutions in the digital world. AI and machine learning have been deduced to be the most celebrated trends in digital technology for the next many years. According to Adobe statistics, over 47% of digitally mature organizations acknowledge the presence of an AI strategy in their digital toolkit.
Understanding AI basics
In simple terms, artificial intelligence is all about systems simulating human behaviour and intelligence. During the yesteryear’s machines were limited to the role of mere robots without a brain of their known. This is where AI pitches in with cutting-edge technology that allows machines to function intelligently. Machine learning and robotics are core parts of AI. Regression analysis, cybernetics, progressive learning algorithms and artificial neural networks are some of the approaches and tools deployed by AI.
Using AI for digital transformation
Learning, planning, reasoning, perception and problem solving are the various human-like skills demonstrated by AI. For example, using Artificial Intelligence in a call centre, bots and chatbots may be deployed in attending to customer queries, saving time and cost considerably, besides boosting customer satisfaction. Where natural intelligence cannot be scaled beyond human limitations, machine intelligence can perform tirelessly. Using technologies like deep learning, speech recognition, expert systems and natural language processing (NLP), AI is all poised to reach greater heights in the digital horizons of tomorrow.
Some useful applications of AI
Big data, knowledge engineering and computer power have enabled AI to analyse neural networks better. Manufacturing, retail, video gaming, health care, advertising and IT service management- AI is all pervasive and inundated all key sectors in the global economy. AI enables businesses to edge their products and service offerings with advanced layers of protection, precision, accuracy and machine intelligence. Voluminous amounts of data are synthesized to extract real-time and actionable insights, which come of use in making data-driven and validated decisions.
Where AI stands in 2019
The forthcoming year holds opportunities galore for application of AI. Big data is profitably analyzed, and emerging patterns are observed, thanks to deep learning technology. According to a report from IDC Corporate USA, a 50.1 per cent increase in CAGR (compound annual growth rate) is predicted by 2021 for the global spend on AI. This mind-blowing statistic is an eye-opener to the real-time application of AI in almost all business areas. Limitations and challenges in the implementation of AI concepts are being negotiated expertly by professional digital consultants. Proper understanding and implementation of AI will erase any cultural issues arising out of ethical dilemmas.
To encapsulate, it has revolutionized the digital transformation drives of corporates. In fact, AI has proved transformative in multiple areas right from Agriculture, Medicine and Education, to entertainment, marketing and intellectual property rights, to mention a few.
Zuci is revolutionizing the way software platforms are engineered with the help of patented AI and deep learning models. Learn more about Zuci at www.zucisystems.com
About the author
Anil is the Director of Technology at Zuci Systems. He is an industry evangelist in retail. With 17 years of experience, he has managed projects with Fortune 1000 companies and successfully implemented relevant technology for innovation in retail. Know more about him at Anil Kumar.