Artificial Intelligence is one of the hottest buzzword in tech field. Past several years have seen many transformation in the tech field that were previously seen in sci-fi movies only. Artificial Intelligence refers to stimulation of human intelligence in machines that are programmed to think like humans & mimic their actions. The term Artificial Intelligence may also be applied to any machine that exhibits traits like human beings such as learning and problem-solving.

When people hear about Artificial Intelligence first thing that comes to their mind are robots. After-all big budget films & novels show stories about human like machines that wrek havoc on the earth. But thats all are stories for entertainment. The truth is that its not true at all, machines that are programmed through AI can be a boon for humans.

Artificial Intelligence can be regarded as a method of making computer or computer controlled robots or a software that thinks intelligently like a human mind. Studying the cognitive process of human brain is the basis of developing an AI. It is based on a principle that human intelligence can be defined in a way that machines can easily mimic. With the growth of technology AI is also growing, it has now able to benefit many industries. Further we will read more about how AI based technology can help you in growing your business.

Applications of AI

There are lots of practical implications of AI, this technology can be used to many different sectors & industries. AI is being tested & used in healthcare industry for dosing drugs & doling out different treatments specific for particular patient, AI also aids in operating room for many surgical procedures.
There are some other examples of using AI, like use of robots for playing chess & self driving cars. AI is also useful in banking industry, here it is used to flag inappropriate banking activity such misuse of credit debit cards or large amount money transaction. All of this helps banks to keep check on frauds. AI based applications are also popular for online trading & makes trading easier.
Here are 10 most prominent examples of AI being used in our day to day life –

1. Customer support – Traditional customer support mean having a customer support staff who resolves all the queries of customers over email or phone. This means of customer support is more expensive & has its own limitations regarding time & availability. AI based customer support in form of chatbots & customer assistant can give you all the information that an individual can give. The integration of chatbots can help companies to save on human resources diverting them towards more productive work.
2. Personal Assistance – In past couple of years AI has become an important part of the personal assistance services. Now a days AI personal assistant like Amazon Echo, Apples’s Siri, Alexa etc are assisting in people’s daily lives, controlling their smart devices & even keeping an eye on person’s routine health.
3. Online Shopping– Whenever you shop online the platform you use, gather data about your interest, choices, the size that fits you better. On the basis of recorded data they suggest you according to your preferences. You get accurate recommendation according to your style, size etc. All these features enhance user experience and heighten the user engagement.
4. Healthcare – AI has proven gamechanger in the field of health industry. AI based robots or machines are now serving patients in hospitals, from diagnostic functions they are even assisting doctors in operating room also. It has solved the problem of lack of manpower & lessen the burden of the doctors.
5. Market Research– AI can go through vast quantities of data to compare trends, pricing & make future predictions. This helps companies to stay ahead of the curve & understand their strength & weakness. It can also help companies to understand market trends in a better way.
6. Finance – AI has a huge role to play in finance industry. With the use of chatbots, machine learning, automation, adaptive learning we can generate real time insight into financial trends. AI based advisor can scan whole market to predict best stock & portfolio to invest in.
7. Security– AI based security system & devices are popular these days. Humans can’t monitor a number of cameras 24×7. However thanks to the technology we can set up our own security system, you can get security alerts if any of your alarm criteria gets triggered.

To perform all the above tasks in various industries there are different types of AI which are used accordingly. Some types of AI being used in various industries are as follows.

Types of AI

1. Purely reactive This kind of AI specialise only in one type of work. They do not have any memory or data to work with. For example in the game of chess the machine observe the move & makes best possible decision to win.
2. Limited memoryThis type of AI has minimal memory, but it is enough for making decision, they collects previous data & continues to add in their memory. For example it can suggest restaurant based on previous knowledge about the area.
3. Theory of MindThis kind of AI can understand thoughts & emotions, they can interact well socially. However this kind of AI is yet to be built.
4. Self AwareSelf aware machine are the future generation of these technologies. They will be intelligent, sentient and conscious.

Above discussion explains to us that there are so many benefits of AI in our daily lives. Businesses also using AI to get maximum benefits. We can sum up the benefits of AI s follows-

Reduces human error
Available 24×7
Can do repetitive task easily without getting bored
Fast & accurate
Cost effective

Now there are some disadvantages also that should be kept in mind before using any AI based technology.

It can’t duplicate human creativity. It can’t think creatively can only perform tasks that are programmed previously.
Highly programmed AI can sometimes harm to humans. To clear this point here is an recent example of a chess competition that was being performed between a seven year old child & an AI based robot. The child makes his move first out of turn, to everyone’s shock, the robot got so agitated that he got hold of child’s finger unfortunately breaking the bone. Our purpose of mentioning this incident is not to scare you off, but to explain you that errors in programming can lead to such accidents. Therefore we should use technology wisely to get its maximum benefits.
However carefully programmed AI can never lead to such accidents. Here the role of the developer is very important, he should be very vigilant while programming such a machine.

Ending Thoughts

On a concluding note we can say that AI has become an important part of people’s lives. Many industries rely on AI based machines to fulfill their needs. To make your business outshine you must also take the advantage of AI. So without delay hire a developer to get your needs fulfilled. Join us today have some techno experience.