How AI & Business go Hand-In-Hand?

How AI & Business go Hand-In-Hand?


One thing about AI which you can’t disagree is that it will reshape how all of us live and even have a deep impact on the work we do. Humanity will benefit to a great extent as people will waste less, live longer, work smarter, have a better understanding and will be able to predict anything which can be measured.

However, one needs to be cautious with the benefits and promises AI and other computing technologies bring as there might be a certain risk. These risk can include threats to a job, privacy, security of a nation as well as public safety. Still, it doesn’t hamper the extensive growth that artificial intelligence has and still making in today’s era.

Reaction Of Countries To Artificial Intelligence

It might be surprising to most people, but reports have shown that countries have taken the advancement and rise of artificial intelligence in the right step. China is planning to spend about $1 billion a year for artificial intelligence.

Even countries like Germany, France, Netherlands, Sweden are heavily investing in coordinated ways. South Korea and Canada plan to pursue focused national AI strategies. The United Kingdom is following a different approach where it has announced a fellowship fund of £50m for attracting top machine learning researchers.

History Of AI

It was somewhere in the late 1950s that the term artificial intelligence came into being. However, it’s popularity has increased today due to advanced algorithms, a high amount of data volumes, and efficiency in storage and computing power by a custom software development company.

Somewhere in the 1950s, researchers of AI worked on various topics like symbolic and problem-solving methods. But the US Dept of Defense had a great interest in this kind of work and took a deep interest in the 1960s by making computers to copy the basic reasoning of humans.

For instance, somewhat in the 1970s, the DARPA (Defense Advanced Research Project Agency) completed the project related to street mapping. Long before Alexa, Cortana, and Siri became household names, the DARPA created intelligent personal assistants in 2003. Such kind of early breakthroughs paved the groundwork for automation and formal reasoning, which are present in today’s computer technology. Besides that, there is the decision support system and smart search system which is simply designed for augmenting and complementing the abilities of humans.

No doubt, even Hollywood movies and science fiction novels have created a deep impact on how AI is presented in the form of human-like robots might dominate the world. The advancement that AI has today will surely benefit various industries and a custom software development company.

Rise Of Artificial Intelligence

AI has got a huge amount of attention because of the hype it had in the startup sector. In addition, to this kind of popularity, the new platforms and the explicit technological advancement has increased the accessibility of the AI towards a broader audience.

The basic aim of the artificial intelligence is to empower and refine machines having cognitive capabilities for creating an intelligent agent which can understand the environment it is present in and do actions that heighten the basic chances of gaining success for achieving one’s goal.

To achieve the required results, artificial intelligence will utilize big data, blockchain development and even various machine learning concepts, and other fields too. Keep in mind that machine learning is taking over the world and there is a good career for individuals who are aware of AI.

How AI Impacts Businesses?

Most people define AI as part of computer science which involves the study of computer software focused on assisting machines to make practical decisions, solving basic and complex problems and performing complex reasoning. But this particular definition is based on what experts feel like a strong AI. And this is focused on the AI systems which are a bit flexible like the human brain with regard to performance.

Frankly, the above defined AI version is most likely to come into reality after three decades. But what arises or available in today’s application is normal or weak AI. The best part of the weak AI is that it functions within the focused area of capability, where small simple tasks are done efficiently and ones which humans can do.

Some of the examples of AI which are seen in daily life –

  • Logistic apps that assist business like UPS route for vehicles, thereby saving fuel and time
  • Many control systems of the air traffic towers are powered by AI and these ascertain flight plans and choose the required landing gates for airplanes.
  • Speech-recognition tools developed by a custom software development company that assists in managing the incoming calls and provide automated customer service.
  • Loan-processing system where each creditworthiness of the applicant is evaluated before providing the loan.
  • Digital personal assistant which searches for various data sources and provides answers in normal English, similar to the Siri of Apple.

Keep in mind that in all the above cases, the AI is based on certain algorithms- which is nothing but a set of rules or formulas used by neural networks for processing information to assist in getting the required answers.

Wrapping Up

Businesses and brands will take the AI way rather than the highway as the amount of opportunities that AI provides are great with regard to blockchain development, Big Data, etc. Of course, each business is always on the lookout for gaining momentum in the competitive market, and AI can be the best tool for that.