Artificial intelligence (AI) is not a new concept. The modern field of AI came into existence in 1956, but it took decades of work to make significant progress toward developing an AI system and making it a technological reality.
Today, AI and its commonly cited subset of machine learning are common, especially in the business world. Most of us interact with AI in some form or another daily, but the truth is there are vast applications of the technology, from the mundane to the breathtaking. As AI and machine learning further proliferate, they are becoming an imperative for businesses that want to maintain a competitive edge.
AI and business today
Rather than serving as a replacement for human knowledge and ingenuity, AI is generally seen as a supporting tool for the humans. Although AI currently has a difficult time completing common-sense tasks in the real world, it is adept at processing and analyzing troves of data far more quickly than a human brain could. AI can then return with synthesized courses of action and present them to the human user. In this way, humans can use AI to help game out possible consequences of each action and streamline the decision-making process.
“AI is kind of the second coming of software,” Amir Husain, founder and CEO of machine-learning company SparkCognition, said. “It’s a form of software that makes decisions on its own, that’s able to act even in situations not foreseen by the programmers. AI has a wider latitude of decision-making ability as opposed to traditional software.”
Those traits make AI highly valuable throughout many industries, whether it’s simply helping visitors and staff make their way around a corporate campus efficiently or performing a task as complex as monitoring a wind turbine and predicting when it will need repairs before it breaks down.
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