Artificial intelligence has made headlines for years as systems continue to develop and become more integrated in our daily lives. While AI may seem like a futuristic concept to some, these systems can actually be quite accessible. In fact, we use many forms of AI in our daily lives, sometimes without even knowing it! What’s more, many businesses are adopting different artificial intelligence systems to assist in their everyday processes. So what exactly is AI, and how are businesses using it?
Artificial intelligence is the ability of a machine to ‘learn; from previous experience. These systems can understand and respond to written prompts, math problems, digital images, and more once they are programmed with existing information. There are many different AI models, but some of the most common types can be found in social media. When you scroll through your social media and find advertisements that relate to products you’ve recently liked or searched for, that is due to artificial intelligence. AI can create an algorithm to suggest or remove content on social media platforms depending on patterns of likes and dislikes it picks up on from your previous content consumption.
This type of artificial intelligence is known as machine learning. Apps like Snapchat and TikTok use machine learning to create algorithms and apply interactive filters for users without having to be manually programmed. A more complex form of AI is deep learning systems. These systems can recognize patterns and datasets that have a higher complexity and outperform other machine learning data inputs. Even more complex are expert systems which can mimic human decision-making. While these systems are not self aware, they can assist with complex problems up to human-level decision making.
All of these systems can be useful when it comes to business processes no matter the industry. On the more basic level, generative AI is a type of machine learning that can assist with social media efforts. These systems can pick up on previous marketing patterns and customer engagement to create brand new content to keep a brand relevant. While that is a common example, the number of AI capabilities in businesses is extraordinary.
In 2018 the number of AI capabilities in businesses was about 2. This figure doubled by 2022 and is expected to double again in 2023 due to how fast the technology is developing. Today the average business has about 4 different uses of AI technology to improve their overall processes. The most common AI capabilities across all industries are automating processes through robotics, computer vision, and natural language text understanding. Businesses have seen increases in their efficiency and productivity, higher quality in their data and tasks, and overall greater speed leading to higher ROI.
Artificial intelligence can be useful for businesses, but with so many different types of systems, it is important to understand which system will be the right fit for your needs. The first step is defining business needs and setting near-term goals which will help identify the correct AI system as well as set a road-map to determine whether or not the system is producing the desired outcomes.
To learn more about uses of AI in businesses and how these systems can improve your overall processes with intelligent document processing, take a look at the infographic below: