Artificial Intelligence (AI) – Development Agency Perspective

Published on September 7th, 2020

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Artificial Intelligence (AI) – Powered Organization

What is Artificial intelligence? How artificial intelligence works and how AI will change the future? Artificial intelligence vs Data science? Artificial intelligence vs human intelligence? These are some of the hot topics these days and asked by tech enthusiasts looking to keep themselves updated on the latest advancements in technology and development.

So let us start with defining artificial intelligence. Modern technologies like artificial intelligence or AI is the application of machine learning (ML) which is used to build systems that simulate human thought processes such as logical reasoning, self-learning, and auto-correction. Machine learning, knowledge discovery, natural language processing, vision, and human-computer interaction are some of its disciplines.

AI helps in an accurate, fair, transparent, and unbiased decision based on the data provided and thus it has become a very common and powerful tool for the critical decision – making process.

Artificial intelligence is reshaping business and it now plays a very important role in guiding decisions on everything in everyday life starting from crop harvests to bank loans as it enhances the automated customer services.

However, the technologies that enable AI which include the development of platforms along with vast processing power and data storage are advancing rapidly and becoming increasingly affordable. The time seems favorable for companies to capitalize on AI technology benefits.

According to Harvard Business Review (2019), it is estimated that AI will add $13 trillion to the global economy over the next decade.

Though there is a prediction, that organizations are depending on AI-based decision-making processes but a very common mistake made by the leaders are, that they view AI as a plug-and-play technology with immediate returns.

However, based on few projects up and running, organizations have begun to invest a huge amount in data infrastructure, AI software tools, data expertise, and model development.

Few pilots run though manage to make out small gains in pockets of organizations but then fail to get big wins as executives’ expectations. As a result application development agencies struggle to move from a pilot run (focus on discrete business problems such as improved customer segmentation) to a companywide program (big business challenges, like optimizing the entire customer journey) deployment.

Artificial Intelligence Will Transform Businesses

Is artificial intelligence and machine learning the same? Not exactly! Machine learning is the most common type of artificial intelligence application in which huge amounts of data are provided to machines to allow them to learn about the data themselves.

Machine learning is based on algorithms and self-learning as feeding more data helps in the continuous learning process of the artificial intelligence system and with overtime, it improves its modeling hence provide a more accurate decision and insight previously unseen or not thought.

AI application development agencies will help the organizations to develop AI-based applications as it will help in analyzing the data as an when it comes in. It is quite hectic and tedious for humans to do it without any error or missing on a pattern which will result in incorrect decision making.

Moreover, application development agencies and their artificial intelligence developer can fine-tune the machine learning algorithm to rapidly analyze the data identifying its unique patterns and anomalies. Along with rapid data analysis, the machine learning algorithm can also identify a reduced capacity of a machine in any industry and thus will also notify the decision-makers about the situation of either time to dispatch or prevent the maintenance team.

Artificial Intelligence, Machine learning, artificial neural network etc

Deep learning is a specific version of machine learning which relies on neural networks to engage in nonlinear reasoning. Moreover, it is used to performing more advanced functions like analyzing a wide range of factors at once such as fraud detection.

The development agencies can use this deep learning technology to enhance several works at a place by identifying, analyzing, and responding to it at once. These algorithms are used to enhance the contextualize information and prediction for about 5 – 10 seconds. All the information is calculated and then incorporated side by side to make predictive decisions.

Will artificial intelligence take over humans and surpass human intelligence? Will large scale adoption of AI applications by businesses of all shapes and sizes lead to unemployment? Artificial intelligence is serving as a replacement for human intelligence and ingenuity in business today but it can never replace humans and their importance.

It is essentially seen as a supporting tool although currently, it is facing a difficult time completing common sense tasks in the real world. However, the developing agencies adhere and adept at processing and analyzing troves of data much quickly compared to the human brain that too more accurately. As a result, artificial intelligence software can synthesize the courses of action and help to game out possible consequences of each action and streamline the decision-making process.

The development agencies can use these traits of artificial intelligence to make it highly valuable throughout many industries ranging from simply helping visitors to staff make their way around a corporate campus efficiently.

It will also be used in categorizing a task, if complex or simple, and also predicting a tentative period for performing the task when it can be completed to need maintenance. In regards to cybersecurity, Artificial intelligence is playing an increasing role to meet the scale and increasing complexity.

Artificial Intelligence (AI) – Development Agency Perspective was last modified: September 7th, 2020 by WebNet Creatives

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