Artificial intelligence is a buzzword because of the continuous technological innovation. It has become more and more common ever since the 21st century. Because of the convenience and efficiency it brings, most companies leverage artificial intelligence solutions.
Ride the trend and experience the benefits of AI capabilities. If you want to know how this digital transformation affects business processes, you’re on the right page. Read on for the essential details you need to know about artificial intelligence.
What is Artificial Intelligence?
Artificial intelligence has a long history that started in the 1950s. It began with a vision of developing a self-learning system that could solve tasks that needed the human mind. Since then, the advancement of technology has grown remarkably. This was especially highlighted in 2010, where there was a massive surge in AI-based innovation.
AI enables machines, such as computers and robots, to perform tasks and imitate human behavior. This can be achieved when computers are programmed to process large amounts of data and recognize patterns. Some examples of technologies that use AI systems include speech recognition, robotics process automation, natural language processing, voice command, and self-driving cars.
This innovation has resulted in the development of machine learning—a branch of AI. This focuses on the use of data sets and algorithms to process and copy how humans learn. It’s based on repetitive actions and patterns that lead to the accuracy of AI response to stimuli.
Types of AI
- Reactive Machine. This performs specific duties and responds to information based on repetitive data.
- Limited Memory. Controlling recent observations and making informed decisions are the basic functions of this type. However, the gathered data is only retained for a short period of time.
- Theory of Mind. This refers to machines that can interact socially and make decisions based on emotional reference.
- Self-Awareness. This type demonstrates intelligent human-like behavior through ideation, desires, and understanding internal states.
Related Article: What’s the Difference Between Machine Learning and Deep Learning?
What are Artificial Intelligence Solutions?
With the continuous improvement of technology, a lot has changed since the invention of the first AI robot. Moreover, artificial intelligence solutions have made personal, professional, and business-related processes easier. AI solutions have penetrated all industries and sectors; it’s only a matter of time for them to dominate all parts of the globe.
Artificial intelligence solutions provide ways to solve problems with accuracy and efficiency. It starts by developing machine learning models that are essential in AI projects. This can be done by using AI-based software and tools.
There are different artificial intelligence solutions you can take advantage of depending on your business needs. Right off the bat, there are custom software offered by model-building platforms and ready-to-use solutions, both of which can be altered to fit your requirements.
Furthermore, there are a wide variety of automated solutions you can use to help you achieve your business goals. Here’s a quick rundown of some AI solutions:
- Computer Vision. This works for visual data types, where it enables systems to make meaning from images, videos, and other visual representations.
- Augmented Reality. This type makes real world objects enhanced through computer-generated perceptual information.
- Natural Language Processing. This is a text-based solution where a computer program understands human language, both written and spoken.
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Importance of Artificial Intelligence Solutions in Your Business
As mentioned earlier, AI makes lives more convenient. This technological advancement opens doors to more opportunities for growth, productivity, and better workflows. Not to mention, it’s time-saving and cost-effective in the long run.
With the help of artificial intelligence solutions, business functions can be improved and achieving success is within reach. Here are some reasons AI solutions are beneficial for your business.
1. Business Security
AI solutions help you store your organization’s data and protect it from hackers. With AI-powered software specifically created to maintain data security, you can be at ease that your information, as well as your customers’, is digitally kept with the utmost confidentiality.
2. Better Productivity
AI solutions increase productivity because your in-house staff can focus better on their core duties as you use software to work on tasks such as data management, data-driven functions, and even customer support through chatbots.
3. Business Efficiency
As productivity increases, so does efficiency. Additionally, with artificial intelligence solutions, you can derive immediate data that you can use to create a better workflow and improve each business function.
4. Improved Business Strategy
Having relevant and validated data can help you reorganize and improve your business processes. AI solutions aren’t just a digitization trend; they also offer effective ways for scalability. Plus, deriving deep insights enables you to come up with better strategies to achieve your business goals.
5. Increase Sales
All the aforementioned—business security, productivity, efficiency, and improved business strategy—lead to an increase in sales. With artificial intelligence, you don’t just elevate your business functions and processes; it also gives you a better opportunity to reach a wider audience, know their needs and wants, and learn ways to use the datasets to your benefit.
Related Article: Artificial Intelligence and Its Impact on the BPO Industry
Artificial Intelligence Solutions in Several Industries
With digital transformation resulting in advanced technologies and deep learning models, AI solutions have become part of different industries. Systems and implementations vary, but AI-capabilities, such as automation, NLP, and data annotation, to name a few, are used by business leaders.
Not only do AI solutions help with risk-management; they also provide real-time support. Plus, it gives solutions to business problems, leading to business growth and customer satisfaction. With the automation of some human tasks, your business can experience tremendous improvement when it comes to effectiveness and efficiency.
That said, AI has become part of different industries. Read on to know how artificial intelligence solutions are used in the fields of e-commerce, finance, healthcare, manufacturing, and transportation.
E-commerce
Among the industries that have benefited the most from AI solutions, e-commerce emerges on top. With this technological implementation, e-commerce now offers personalized shopping, recommendation systems, market basket predictive analytics, sales forecasting, intelligent inventory management, customer support, chatbots, and VAs.
Finance
With the help of AI solutions, financial services have become more manageable. This has been possible through financial forecasting, fraud detection, virtual banking, credit scoring, and risk assessment.
Healthcare
AI solutions are commonly used in the healthcare industry and have been proven to be effective. Doctors can have a more accurate diagnosis and better treatment plans because of AI-based medical devices that can analyze raw disease data, eliminate inconsistencies, and interpret data. Aside from that, there’s medical imaging automation, pharmaceutical research, and health monitoring systems.
Manufacturing
Another industry that’s taking advantage of AI solutions is manufacturing. It helps identify when a piece of equipment needs maintenance to avoid malfunctions. In addition, manufacturing AI solutions are combined with demand forecasting, telemetry, and workflow optimization to ensure quality processes.
Transportation
AI solutions for transportation, logistics, and travel include route and schedule optimization, demand and capacity predictions, dynamic pricing and price optimization, real-time traffic prediction, supply chain automation, predictive vehicle maintenance, and travel assistants. All these help manage traffic and the increasing number of vehicles.
Related Article: How Human-Powered Annotation Helps in Machine Learning
Leverage Artificial Intelligence Solutions
As emphasized previously, AI solutions give you an advantage regardless of the line of your business, which consequently leads you to a lot of benefits. However, not all companies have the technology to create AI-based projects. If you’re one of them, worry no more! We have the right service plan for you.
We at Outsource-Philippines make sure that we are on the frontlines in providing quality AI solutions to companies in the Philippines and abroad. With our expert IT team, state-of-the-art facilities, and advanced technologies, we guarantee that you get the service you deserve without spending so much. Connect with us today.
