AI is already transforming the world around us and will continue as more companies implement new techniques, tools, and technologies. Already, AI systems are being used to improve customer service, predictive maintenance, and even autonomous cars. But as AI continues to grow in popularity, it will also present new challenges and opportunities. Visit artificial intelligence Durham NC to know more about AI and some latest innovations. These innovations will impact every industry, from finance to healthcare. Forbes Technology Council, an invitation-only network of world-class CIOs, discusses the latest trends in AI.
AI is a new technology
AI is a relatively new technology, and it’s already changing how companies make decisions. This technology is changing how we work generating new concerns regarding its ethical use and regulation. While it’s an exciting advancement, AI raises significant policy and regulatory questions, and it’s not always clear how to regulate it responsibly. Governments should focus on broad objectives instead of cracking open AI “black boxes.” Doing so will limit innovation and make it more difficult for companies to use AI in their products. Governments should also consider bias and discrimination as major issues with AI and should extend existing laws against these to digital platforms. This will protect consumers and foster confidence in AI.
AI is particularly adept at working with massive amounts of data. AI systems can gather information at breakneck speeds, analyze it, and check for errors and formatting issues. AI can also make decisions in our place and collect information through broad inquiries. As AI becomes more prevalent, it will replace most of the work humans do in exploring data. It will be easier to automate some tasks but still, need human oversight. AI-powered systems will also help companies identify trends and insights.
It’s set to transform business
As we enter the fourth industrial revolution, artificial intelligence is becoming a central part of our everyday lives. We already see its impact on our personal lives, and it is now set to transform business. The International Data Corporation released a report stating that by 2022, 65% of Fortune Global 2000 companies will use NLP, ML, and deep learning to improve customer experience, reduce human error and automate tasks. Increasingly, AI-powered models can answer questions and simulate human conversation. Combined with video and AI, this technology can create new waves of transformation for our lives and the businesses we are involved in.
The strategic value of AI is comparable to that of electricity in the early twentieth century. Electrification revolutionized manufacturing and ushered in new industries like mass communication. The strategic importance of AI is primarily due to its extreme business complexity. Without AI, humans would be unable to manage this complexity. In the short term, the most significant impact of AI on business is in the area of automation. It will likely eliminate a lot of human jobs.
It’s already being used to improve customer service
While you may be tempted to hire a human customer service agent, it is expensive and inconvenient to train an agent every time. And in the end, you have no guarantee that the person you hire will be a stellar customer service agent. On the other hand, AI can handle many customer service tasks. This makes hiring a virtual assistant easy and an excellent idea for companies wanting to increase customer service and satisfaction levels.
AI can gather information from various sources and factor in personal preferences and weather. It can also display the most relevant content based on these factors. Companies can use AI to analyze this data to build more comprehensive customer profiles, focusing on their specific needs, purchasing behavior, and preferred interaction channels. By identifying what customers want, AI can deliver targeted content through the appropriate channels at the right time.
It’s transforming medicine
AI is transforming medicine with the ability to make predictions and test treatment options on computerized twins of patients. This technology allows doctors to develop personalized treatment plans based on the unique needs of patients. The digital twin continuously learns from the patient’s experiences and incorporates the latest health information. With this new technology, doctors can use data from millions of patients to improve patient care and personalize treatment. As a result, artificial intelligence is changing how doctors practice medicine, which has enormous implications for the healthcare industry.
AI has the potential to detect disease earlier and more accurately. For example, AI can translate mammogram images with 99 percent accuracy, preventing unnecessary biopsies and saving precious time. It can also detect early signs of heart disease and can identify potentially life-threatening episodes before they develop. Some AI applications in medicine involve wearable technology that can detect early symptoms of heart disease. It will be possible to offer treatment plans based on a patient’s demographics.
It’s being used to improve video surveillance
The latest advancements in video surveillance technology use artificial intelligence to detect patterns in the data. This allows cameras to alert operators when a person is present rather than video noise. This feature saves the operator time as the video does not contain video noise that the operator cannot distinguish. The AI tools can also train operators to use video surveillance. One such AI tool is Wisenet WAVE. This software program allows operators to train a camera’s video to detect particular objects.
AI technology can process millions of hours of video to detect patterns that humans cannot. These patterns can be compared across locations to identify potential suspects. AI can also help police identify suspicious behavior, such as shoplifting. Analyzing surveillance footage can help prevent crimes and protect people’s privacy. Artificial intelligence can also identify unattended luggage and shoplifting behavior. AI technology has the potential to revolutionize video surveillance.