Understand the basic principles of Artificial intelligence and how it is relevant to your business.
Today we live in a world of A.I. everything. What does Artificial intelligence really mean and how is it relevant for your business? Here is a 5 minutes summary to get you up to speed.
Artificial Intelligence refers to the simulation of human intelligence in computers and machines that are programmed to think like humans and mimic their actions. The unique characteristic of artificial intelligence is its ability to rationalize and take actions that have the best chance of achieving a specific goal. A.I. systems would typically demonstrate attributes that are associated with human intelligence like, problem solving, reasoning, learning, etc. Fields related to A.I. that might be of interest include;
- Machine learning- these are systems that improve their performance in given tasks with more and more experience or data. These systems get better at a task the more they do it, they “learn” on the job. Machine learning enables A.I. solutions that are adaptive.
- Data science- refers to fields that utilize scientific methods, algorithms and systems to extract knowledge and insights from many structural and unstructured data.
- Deep learning- Is a subset of machine learning in A.I. that has networks capable of learning unsupervised from data that is unstructured or unlabelled.
- Robotics- involves building and programming robots so that they can operate in complex, real-world scenarios. Robotics is the ultimate challenge of A.I. since it requires a combination of virtually all areas of A.I. for e.g. speech recognition, computer vision, cognitive modelling and affective computing for interacting and working together with humans.
Today, the application of Artificial Intelligence is endless. The technology can be applied to many different sectors and industries. At Fitch Technologies for example, we use Artificial Intelligence to develop websites, mobile apps that provide personalized experience for our customers thus improving engagement and ultimately leading to more sales.