Artificial Intelligence (AI), the newest disruptive technology is already on the verge of pushing all the boundaries whatever we thought was possible. Deep Learning-A branch of AI focused on vast neutral networks, till now was the most expensive and hence, is infeasible.
However, with the significant advancements in the silicon technologies, Deep Learning can now be a major tool for facial and speech recognition, real-time object tracking and can even play (and win) hard video games against humans, including Go, Chess, and StarCraft.
Once what seemed like a distant dream of the utilization of AI in organizations, today it has evolved as a significant reality and is here definitely to develop more and more. All businesses are utilizing AI for solving an array of issues as well as creating evidence driving the business decisions that are both internal as external.
How is the AI currently utilized?
Problem Solving
Andrej Karpathy, Director of Artificial Intelligence at Tesla stated that “He and his team members don’t approach traditional way of problem-solving through brainstorming sessions but in a more superior yet effective way of understanding the issue and using deep learning and data to “search” for solutions.
The coding part that supports “solving” these issues are not written; however, by humans. Instead, it’s founded by algorithms and is computed across large data sets, allowing humans to solve complex problems that we don’t understand. Tesla used this approach to gather car parking data, which then trained algorithms that support to park the car automatically, track them, etc. without any hassles.
Convert consumers
Most organizations already store large amounts of internal or client information. However, they don’t utilize it to its full potential. This information can and must be used. Let’s say that you just are building an internet platform, if you track user behavior and gather key performance indicators then you’ll use this information to predict that users can convert into paying customers earlier, then guide these customers to buy by targeting them on-line with content. This behavior is being unrolled in several analytics-based information suites already, like Firebase and Mixpanel.
Customer service
If you have got an outsized client support employees base that works inexhaustibly to answer customer queries, then chatbots are a realistic possibility. There are several businesses currently that build tailored bots for your domain. Ride-hailing platform Lyft may be an excellent example: you’ll request a ride via chat (Facebook physiotherapist or Slack) or perhaps by voice exploitation Amazon Echo.
The chatbot can allow you to recognize the present location of your driver, show you an image of the quantity plate and automobile model. In Slack, you’ll even use a slash command (e.g.,/lyft home). So, wherever are you able to start? Build a data-first organization. Use this information to drive your business choices the maximum amount as attainable and optimize internal processors like audits, CRM and recruiting.