The Industrial revolution 4.0 has led to the speed of light evolution of technologies. Innovative breakthroughs that make life easier have emerged, especially in the field of deep learning and machine learning. This enables the easy analyzing and processing of data that has surpassed the existing methods by leaps and bounds. It has to be noted that in the revolution, Artificial Intelligence or AI, has played a major role.
Contrasting the intelligence displayed by Humans, AI is machine intelligence that thinks, acts and reacts like a human. AI mimics the cognitive abilities of humans in learning, problem-solving and the decision making the process. AI has the ability to revolutionize how business is run and this completely reforms the way business decisions are taken.
AI enables the automation of intellectual and physical tasks that helps in the completion of the task at hand quicker and better. As it excludes human intervention it yields better results. AI leads to a direct reduction of human labor and extensive work hours put in by humans. AI acts as a bridge between data scientists and companies which provides the opportunity to predict the future of business and avoid or tackle any threats. AI helps the growth of humans and the economy by boosting the world economy by many folds by 2030. It is expected to provide an additional boost to the GDP by 1.2 percent per year. This will revolutionize the decision-making process. From economy to advertising and from military to art, AI is set to revolutionize the way that we see the world.
As the Game Changer:
Man’s quest to predict the future of business and self has been relentless. With AI, taking decisions with the knowledge of the outcome has become a reality and led to reform of the decision-making process in business.
Over the last few years, man has come to accept and embrace decision making through analytics. The ever-expanding data and the computing power has given AI the potential to build upon human intelligence that led to the smart decision-making process. With smarter decisions, the costs that are risen by a single wrong decision can be easily eliminated. With the exclusion of human bias from the decision-making process, the speed of business processing speeds up.
How AI Affects Business:
1.Marketing
Today, the market is customer-driven which has led to an increase in the complexities of making decisions. Understanding the customers’ needs and wants and catering to them accordingly has become a challenging task. This increases the need for a grip on understanding and predicting the changing human behavior to take any marketing decisions.
For this purpose, Ampcus implements AI simulation and modeling techniques. This provides a stable insight into the consumers’ persona and helps in the prediction of customer behavior. AI helps clients’ take insightful marketing decisions by real-time data collection, analysis of the trends and provide a view of the wants and desires of the customer.
2.Recommender Systems
Working of a Recommender System
A recommender system is a technology that records the searches of the user and based on the data, provides future recommendations. Initially used by the music industry, recommendation systems have spread into different industries. Based on the ‘explicit and implicit’ feedbacks, AI understands and predicts the consumer’s preferences. This helps in the reduction of bounce rate and create better content to target the customer.
3.CRM
With the help of AI, Ampcus helps the client identify the lifetime value of their customer by creating a persona modeling. With the ability to manage multiple outputs, a complex decision-making process becomes easier as AI can manage and control multiple factors at the same time. The client can gain business insights that improve the ability to source and process a large amount of data in minutes. Unlike humans, innovation does not face fatigue or roadblocks. This enables faster and better business decisions.
4.Mining Opinions:
Decision-makers require a reliable source to provide insights. Over the last few years, AI has emerged as the source providing invaluable insights into customer behavior that improves their communication with the consumer. These insights also help in predicting the demand and respond appropriately to it. AI uses automated mining of opinions to help understand why humans behave and react the way they do. When diverse opinions are mined and analyzed correctly, the client can predict and address the major concerns of the consumers. Hence the decision-making process becomes quicker and reliable.
5.Augmented Analytics:
Augmented Analytics has been predicted as the next big thing. It is expected to transform how analytics is expanded, shared or is advanced. When there are reliable data and recommendations available at hand, business executives and decision-makers can make decisions that are not only wise but also provide a competitive edge to the business. The calculated analytics help in improving the performance of not only the individual members but also help the team as a whole.
Substantial, Agile and Exceptional decisions with AI
With the changing business environment, it is no longer enough that the decisions involve common sense and experience. It is essential that risks and their effect on the business require substantial, agile and exceptional solutions. With its various applications, Artificial Intelligence helps a business make efficient choices that lead to positive repercussions. Ampcus makes the process of induction of AI into clients’ business quicker and seamless and also enhances existing applications.
AI is remarkably complicated and is spreading vigorously. 2019 was all about the much-hyped discussions and debates on artificial intelligence, machine learning, big data, Internet of Things and one of the most ambiguous applications emerged from one of these technologies/theories – the chatbots. And because of its unsteady dispersal, it is almost impossible to predict accurately how AI is going to impact the businesses in future. However, it is possible to predict for the following year and we bring to you 11 ways AI will benefit businesses in 2020.
In this post, we’re going to elaborate the hard-shell hypothesis on AI for businesses, industries, Government sectors, and society on the whole. Many of these nascent artificial intelligence projects are already in the pipeline. Artificial intelligence going to rule the future IT industry. And it has already proved its stance by rendering pathways to effective routine tasks across varied industries. Artificial intelligence implications have managed to reduce the time duration whilst delivering accuracy in assigned tasks. In 2020, the technology is expected to hit the desks across small-scale and high-end organizations, thus making your company a strong prospect and get adopted soon. For the better understanding of how artificial intelligence will truly impact your business in the near future, this post could be a good read. Continue reading!
This post talks about the artificial intelligence trends going across the globe and its implications across various industries. Before diving deep into this piece on 11 ways AI will benefit businesses in 2020, let’s have a quick sneak peek into the most frequently asked questions –
What is AI?
The challenge with trying to define what AI is that there is no appropriate definition. Trying to wordsmith the actual meaning and getting our readers understand what AI stands for is somewhat difficult, and perhaps isn’t really necessary. What important is understanding the concept and its implications? Click here to know more.
Why should you care about AI?
From the realms of sci-fi motion pictures to the mainstream proposition & implementation, artificial intelligence continues to boom swiftly. Here are top three reasons why you should care about artificial intelligence –
The amount of data being generated on the Internet has staggeringly increased in the past few years. And this mammoth-sized data feeds big data, machine learning and not to mention the advanced blockchain.
The likes of world leaders in technology such as Apple, Google, Microsoft, and Amazon have made the storage technique much more flexible through their sought-after AI-platform cloud services.
AI’s penetration into the academic research through neural networks has enabled easy access to data and computing power, thus revolutionizing the academic world.
How is AI going to help you?
Here are the top 11 ways AI will benefit businesses in 2020
AI eliminates repetition of same tasks – This is the greatest advantage artificial intelligence has imparted to humans. Right from Chatbots reducing manual work to x.ai which eliminates the need to schedule meeting calendars. In future, humans are going to be benefited hugely in almost every aspect of life.
High-level customization – Here is one of the top 11 ways AI will benefit businesses in 2020. AI will understand your personal choice and requisite and will give you the exact output over time. A small example being Google’s artificial intelligence, who suggests you search results determining your online preferences and history.
The tremendous amount of time is saved – AI can save a considerable amount of your time by providing you the required data in a fraction of second and making you a better decision maker.
One stop solution – Just as Siri, this technology could be your one stop solution to every question you ask for and is capable of virtually responding to your commands.
Teaming up with technology – AI will enable you to work together with computers as team members. It will monitor operations, alert you and execute the basic tasks without waiting for your commands.
Automating tasks – One of the greatest offerings by AI is that it is capable of automating tasks, thus reducing the workload on the employees. They will be hence able to focus on the strategic initiatives. That being said, there will always be tasks which demand a human touch.
Tailor-made drugs – Medicine is another top AI industry, which is evolving fast. The emergence of the tailor-made drugs is the latest achievement in the world of pharmacy. With the help of AI, doctors will be able to customize their treatment and prescribe the most accurate treatments.
Increase in productivity – Thanks to AI, there has been a monumental progress in productivity. It eliminates the repetitive tasks whilst offering personal assistance to the employees. To summarize, owners are getting hugely benefited as targets are now achieved much before the deadline.
Improved lifestyle – With the advancement of every new technology, our quality of life gets improved. AI has been a boon to the mankind recently with tremendous progress in healthcare, food, supply chain and improved jobs to name a few.
Energy Saving – Thermostats, for instance, are being enhanced through AI. These smart thermostats are able to save a tremendous amount of energy thereby saving millions in wasted energy.
Enhancement in market research – This the last but not the least among the top 11 ways AI will benefit businesses in 2020. The news channels are also rapidly evolving by adopting AI into their operations. And the same is happening with market research and customer behavior.
So, those were the top 11 ways AI will benefit businesses in 2020. If you have something to add on, do revert and we will have your insights featured soon.
Happy reading!
Written by ampcusblog, July 21st, 2019 | Comments Off on 11 Ways AI will Benefit Businesses in 2020
One of the most talked about questions on Quora in 2017 was – Why did Facebook shut down its own AI after its Bot invented its own language? While most of the online articles you will find today on this topic are misleading; the real reason is a far cry from what has been rumored so far.
Facebook had never shut down its Chatbot only because it started inventing its own language imposing threat that it would get out of control. In this post, we are offering our readers a more realistic report of all that you wanted to know about Facebook’s AI experiment and why it was shut down.
For those who are still clueless what this post is all about and what had gone wrong with FB, last month the Internet was abuzz with reports published everywhere about FB shutting down one of its artificial intelligence programs after it allegedly invented its own language. As the old adage goes – “media is an organized gossip“, the media wrongly publicized the story and blew it way out of proportion.
Unfurling of Facebook’s AI Controversy
While one page mentioned, “Facebook engineers panic, pull the plug on AI after bots develop their own language,” another site published, “Facebook shuts down AI after it invents its own creepy language.” And another asked, “Did we humans just create Frankenstein?” asked yet another. As if social media’s scuttlebutt was not enough, a famous British tabloid quoted the incident as “the dangers of deferring to artificial intelligence and could be lethal if the similar tech was injected into military robots.”
As per the reports, one of the Facebook’s AI research program took an unexpected turn, especially when their bots named Bob and Alice got involved in an independent conversation and were seen negotiating when something weird unfurled.
The conversation of Facebook’s AI went like this –
Bob began by saying: “I can I I everything else.”
Alice replied: “Balls have zero to me to me to me…”
Bob then reacted: “I I can I I I everything else.”
Alice responded: “Balls have a ball to me to me to me to me to me to.”
Initially, the AI experts at Facebook couldn’t understand what this claptrap was all about. However, after a thorough investigation, they could make out that the AI bots were supposedly communicating in a language which they had invented altogether.
The Bob’s statement – “I can I I everything else” actually meant – ‘I’ll have three and you have everything else’. Subsequent to this self-ruling development in their artificial intelligence research program, Facebook shut down the entire Chatbot program.
When Elon Musk attacked Mark
While Facebook’s experts were busy figuring out what actually had gone wrong, the news had already spread like wildfire. And more fuel was added to the story, when global tech leaders like Elon Musk, Founder of Tesla started criticizing Facebook’s CEO Mark Zuckerberg openly. Elon went on to tweet this –
Immediately after Elon Musk’s Tweet, the social media at large postulated that Facebook shut down its AI the program down after realizing the vulnerability of AI.
The real reason why Facebook shut down its AI
However, some experts have recently rubbished those rumors such reports and argued that the bots of FB’s AI had never actually invented any new language. Moreover, the neural networks had simply modified the human language, with an intention of making the interaction more efficient. In their pursuit of knowledge transfer, the bots began conversing back and forth in a derived shorthand manner, which looked creepy to us.
The report now has made it clear that it was due to the error from the programmers’ end, that couldn’t train the bots to communicate, following the rules of English language. Subsequently, in a bid to learn from each other, the bots figured out an efficient way to communicate by deriving a shorthand.
Facebook did shut down its AI research program, not because the bots went rogue, but because Facebook lost interest in the research and has put this project on hold.
Happy Reading!
Written by ampcusblog, March 27th, 2018 | Comments Off on Real Reason Why Facebook Shut Down its AI: Not Because Bots Went Astray
The world is already in the threshold of a digital insurgency. Over the next 10 years, artificial intelligence will monumentally alter the far-flung swathes of our lifestyle. The global industry is already prepped for this revolutionary change by AI, especially in three core areas – human resources sector, productivity, and customer experiences. Taking this opportunity, we have come up with an exclusive post on 10 artificial intelligence questions every business leader must ask. Before plunging into those 10 key questions let’s have a quick sneak peek into what AI is and why it matters so much.
“Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution.” ~ Albert Einstein
What is Artificial Intelligence?
Artificial intelligence (AI) enables the machines to develop intelligence and learn from experience, get adapted to new inputs and are capable of performing human-like tasks. The most common examples of AI in use today include the chess-playing computer, self-driving cars, neural networks from the likes of Google’s DeepMind, Siri, Alexa, Texla etc. and these all are designed to depend heavily on smart learning and natural language processing. By integrating AI, computers can be trained to accomplish extensive tasks which involve mammoth-sized data, whilst identifying patterns in the data.
The Artificial Intelligence Wake-up Call – 8 key AI questions every CEO must ask
Almost every IT enterprise and media have laid their eyes upon the potential aspects of AI in terms of speech recognition, learning, planning, and problem-solving skills. And it is time the business leaders paid attention. However, before adopting this amazing breakthrough, here are 8 key questions business leaders should be asking as they assess this opportunity and invest in AI’s life-changing potential.
What is this AI craze all about?
Whether it’s AI, blockchain technology or Internet of Things – every new technology entices business leaders to adopt it and enhance their business grades. Artificial intelligence has the efficiency in combining its epidemic performance skills with any machine and platform including computer hardware, big data, the blockchain, the IoT and also deep learning, data mining, neural networks, cognitive computing, and robotics.
AI can be used to its true potential for transpiring businesses and enable the CEOs to become better decision makers. Business leaders should invest time and their interest in understanding the vast opportunities artificial intelligence beholds, and the areas it can be implemented.
How is AI going to disrupt your industry?
As per the predictions made by the Bank of America, by 2025 AI will amount to $33 trillion. However, at present, the impact of artificial intelligence on businesses is scantily distributed across the globe. Even though it’s already making potential changes in the field of logistics, technology, retail, education and automobiles, less instinctual industries are also ripe for the interruption.
PAs will be replaced by conversationally-driven AI assistants
Devices will run individually
AI will be commonplace in the industry
AI is going to revolutionize the medical world
As AI technology evolves with the years, we need to wait and watch how the world adapts accordingly.
How will AI affect HR and how employees can be trained accordingly?
AI is certainly going to enhance the work performance and quality of the jobs. However, a recent survey in the US suggested that 47% of workers fear to lose their jobs with the advent of the AI-enabled automation. The business leaders should be adopting this theory in a more positive way and the implementation process should be transparent and research-based.
How will AI impact on the customer experience?
While almost every organization might have faced the similar issue of running out of resources and products, AI is here to empower the customer experience. With the onset of newest features and technology, customers’ expectations are also rising dramatically. People are able to shop and make transactions with just a few clicks from their laptops and cell phones.
With the increasing demand for personalized shopping experience, artificial intelligence in retail offers advanced consumer-focused solutions such as personal shopping guidance and kiosks. In a bid to satisfy their customers, enterprises are now looking forward to integrating AI applications such as Natural Language Processing, Strong AI, Inductive Reasoning etc. With the help of AI, companies can deliver tailor-made experiences and reduce the burden on sales associates due to exhaustive tasks.
How fast is AI moving?
Image Source: flickr.com
The AI wave is spreading actively and almost every enthusiastic CEO is keen on having a taste of it. Artificial intelligence is rapidly developing and is already starting to change the world, at a pace that is worrying to some experts. World tech leaders like Elon Musk predicts AI will reign supreme and that it is already advancing like a “Tidal Wave”. Musk had this to say,
“It’s difficult to appreciate just how far A.I. has advanced and how far it is advancing because we have a double exponential at work. We have an exponential increase in hardware capabilities and we have an exponential increase in software talent that’s going into A.I.”
What will be AI’s impact on company’s success?
AI’s impact on success will be as such that in the future, it will be difficult to distinguish whether work is done by automation, AI or humans. With the integration of AI, companies can have increased productivity and achieve goals within a shorter time span. Entities, who have enabled AI in their business processes are six times more likely to have higher revenue growth.
How will AI impact on society?
Image Source: flickr.com
While there is a growing concern that AI will hugely affect the workforce (thanks to Stephen Hawking’s comment on artificial intelligence), here are some astounding benefits society can have from AI in future –
The AI-induced education system will define the future of academics and students
Improved personal hypothesis systems will create an entirely new artificial life form
Intelligent Internet of Things will be more prominent
Quantum computing extensions will be commonplace in future
Artificial Intelligence will be vulnerable
So those were some key questions every business leader should ask for better understanding of artificial intelligence. We put forth a few pertinent questions for our esteemed readers –>
Is your business integrated yet? What impact is AI having on your business grade?
Where do you see AI in the next 5 years?
How do you see artificial intelligence impacting workforce, human resources, and business activity?
Happy Reading!
Written by ampcusblog, March 19th, 2018 | Comments Off on 8 Artificial Intelligence Questions Every Business Leader Must Ask
While China & the US are battling to become the world’s first artificial intelligence superpower; back home we are figuring out 10 predictions on artificial intelligence in next 20 years. When USSR launched the first ever artificial satellite, Sputnik 1; it impelled the United States into a frenzy of competition. And this tug of war finally led the humans to land on the moon.
Now six decades later, the world is most likely going to experience another “Sputnik” moment. However, this time it’s not the US but China is the one, who is getting the wake-up call. The goal, this time is not space but the much-hyped Artificial Intelligence.
China took the first ever initiative by creating AlphaGo, a computer program that plays the board game Go. This AI system was invented by a Chinese company, DeepMind based in London. The founder, Dr. Demis Hassabis is a former child chess prodigy and is half Greek and half Chinese and holds British nationality. In 2016, South Korean master Lee Se-dol lost to AlphaGo at the ancient Chinese board game Go. And in 2017, this world’s first ever AI also defeated the Chinese world champion, Ke Jie.
AlphaGo has influenced the Chinese Govt. so much so that it is now investing in this technology in full bloom. Looks like China’s intentions in this field are crystal clear – to become the world’s leader in artificial intelligence by 2030.
Anthony Mullen, Research Director at Gartner had this to say,
“Right now, AI is a two-horse race between China and the US.” And, says Mullen, China has all the ingredients it needs to move into first. These include government funding, a massive population, a lively research community, and a society that seems primed for technological change.”
Having said that now the trillion-dollar question is – Who’s going to make the killing?
Who is going to win the AI race – US or China?
Image source: investors.com
If China’s 1.4 billion population is a data mine for building their AI sector, the US had also funded irresistibly $76 billion out of the total $176 billion investment in AI worldwide.
While most of the countries including Russia are geared up to predominate AI, China and the US are already cutting each other’s throat by becoming the world’s biggest rivals in artificial intelligence, whether it’s Luke vs Darth Vader, Alien vs Predator, Rocky vs Ivan Drago.
Now this AI war has raised some serious speculations of which we’ve listed out 10 predictions on artificial intelligence in next 20 years and it’s going to affect industries and humans on the whole.
Let’s now focus on the near future, say what will be AI in the next 5 years?
Image source: youtube.com
Forecast #1 – Enhanced speech, voice & image recognition will be certainly attained just as in the 2002 movie, Minority Report. Such advanced features will certainly alter the way we’re now interacting with our devices.
Forecast #2 – PAs will be replaced by conversationally-driven AI assistants. Advanced context-oriented visual interfaces will take over, thereby amplifying in-depth interactions.
Forecast #3 – More & more devices will run individually. Imagine a live virtual voice on the other side when you call a support line. And imagine airplanes being flown by machines and not by pilots.
Forecast #4 – AI will be commonplace in the industry. Right from the top players to the startups, enterprises will be using more of AI than any other platform in the near future. Here are the statistics for number of startup companies working in the artificial intelligence (AI) sector worldwide –
AI will continue to be rigorously adopted by companies worldwide with each passing year, thereby enabling them to extract information from all the possible data source that is being generated.
Forecast #5 – AI is going to revolutionize the medical world. There will be several breakthroughs in the drug discovery in the coming 5 years, thus simplifying human lives. Artificial intelligence will lead to cutting-edge methods right from disease prediction, diagnosis, and treatment to making cleaner and more efficient chemical engineering systems.
Now let’s have a look at the bigger picture…
Artificial Intelligence in next 20 years
Image source: techfinancials.co.zas
Forecast 6 – AI-induced education system will define the future of academics and students. AI will grow beyond what we know today just as Dr. Will Caster, the role played by Johnny Depp in the 2014 movie, Transcendence. AI will play the role of a curator, it will analyze the content, generate and also amplify the content in the first place.
Forecast #7 – Improved personal hypothesis systems will create an entirely new artificial life form. AI will revolutionize the design, curation, and improvement of the already existing AI-induced algorithms. AI will alter the following fields –
Forecast #8 – Intelligent Internet of Things will be more prominent. Internet will inject into all the possible aspects of human life and all sorts of industries including cloud computing and Big Data/Analytics. The intelligent IoT will alter the entire Internet practice as a whole. A new artificial intelligence ecosystem will definitely proliferate in the next 20 years targeting everything from healthcare, transportation, and telecom to public safety and banking.
Forecast #9 – Quantum computing extensions will be commonplace in future. Breakthroughs in AI distribution across multiple machines will recast the data transaction procedure. In the next 20 years, algorithms will run in parallel efficiently over thousands of Graphical Processing Units (GPUs) on each computer.
Forecast #10 – Artificial intelligence will be vulnerable. AI will also be used for purposes, say by the military of various nations against each other. It’s now a major concern whether AI will save or end the humanity that time will only tell…
Image source: futuristgerd.com
And while the tug war continues among US, China & Russia, it’s pretty obvious that the artificial intelligence will change the world at breakneck speed. And as we write, already history is in the making in various sectors across industries through AI and IoT.
Happy Reading!
Written by ampcusblog, February 13th, 2018 | Comments Off on 10 Predictions on Artificial Intelligence in Next 20 Years?
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