What is Artificial Intelligence (AI) and what are Its Benefits to the World?

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Artificial intelligence (AI) has got the world talking because of its vast benefits and concerns. We have heard about it and even use it daily, sometimes without knowing it. It is a technology that provides solutions to various fields around the world. Artificial intelligence has many potential applications to improve the quality of our lives and create new business opportunities.

Today, we will look at artificial intelligence, a digital technology of 4IR that is providing solutions at home and work.

Wikipedia reports that AI research was founded in a workshop in the USA in 1956, and those who attended became the leaders of AI research for decades. Many attendees predicted that a machine as intelligent as a human would exist in years to come. John McCarthy is one of the founding fathers of artificial intelligence and coined the term with others.

What is Artificial Intelligence (AI)?

You have heard about artificial intelligence, but what is it?

Below is a definition of artificial intelligence and its benefits generated by the new Canva AI writing tool in the recently launched Canva Docs. I’ll let AI speak for itself.

Artificial Intelligence (AI) is the science of creating computer systems that can think and act in ways that simulate human intelligence. AI has the potential to automate processes, increase efficiency, reduce costs, and improve decision-making. AI can also be used to analyze data, process large amounts of information quickly, and even create new products that could not be created without it. AI could significantly reduce the need for manual labor across multiple industries, create better healthcare services, and enhance transportation and communication. AI could also improve security, assist in disaster management and relief, and help reduce poverty and inequality around the world.

So, how’s that for writing using AI? I don’t know about you, but it sure sums up today’s topic: What is artificial intelligence (AI) and what are its benefits to the world?

What are the Benefits of AI?

Apac Entrepreneur says that AI enables us to make predictions, suggestions, and decisions that alter both the real and digital worlds based on a variety of data. That has led to the creation of solutions and systems that have transformed our world significantly, and we reap the benefits daily. Below are some benefits of AI.

  1. Smart decision-making. AI helps companies make better decisions by providing insights into customer behaviour and market trends.
  2. Enhanced customer experience. AI can be used to create more personalized customer experiences as well as improve customer service.
  3. AI is used to create new products and services, new algorithms for online stores, help medical professionals more accurately diagnose diseases, and help financial institutions detect fraudulent transactions.
  4. Additionally, AI can help reduce costs and increase efficiency by automating processes and reducing manual labour. Automation allows for streamlining of operations.
  5. Minimizing human errors. When AI is programmed well, it will eliminate the errors caused by humans. In manufacturing, it can reduce production errors and increase the safety of employees.

How does AI Work?

SAS Institute says that AI works by combining large amounts of data with fast, iterative processing and intelligent algorithms, allowing the software to learn automatically from patterns or features in the data. This means that AI takes data and identifies patterns in it. It then uses this data to make decisions or predictions. AI can also learn over time to make better decisions, depending on the type of AI used.

AI has subfields that include machine learning, a neural network, deep learning, computer vision, and natural language processing (NLP). Machine learning is the branch of AI we hear about a lot. TechTarget defines machine learning as a type of AI that allows software applications to become more accurate at predicting outcomes without being explicitly programmed to do so. ML imitates how humans learn using algorithms and data.

Technologies that support AI include graphic processing units, advanced algorithms, application programming interfaces (APIs), and internet of things.

An Example of AI in Use

Alexa, Amazon’s voice AI

Alexa is an artificially intelligent virtual assistant created by Amazon and lives in the cloud. It is used to play music, set reminders, answer questions, and connect smart home devices, among others. To use Alexa, ask a question and it will respond to your request. You can use Alexa as long as you have an internet connection. Alexa is a tool that helps you get more organized and adds convenience in your life. Give Alexa a try on your phone by downloading the app on Google Play or the App Store. Check out this short video of the new Range Rover that has Alexa built in.

How to get started with AI

Getting started with AI can be as simple as downloading a free AI software program and following the instructions. For more complex AI projects, you may need to enlist the help of experienced professionals.

It is important to understand how AI works, the types available, and how to use it effectively. After that, you can choose the right AI solution for your business and get started with its development.

Artificial intelligence makes us better at what we do. It can see patterns that we do not see during data analysis.

If you would like to learn about the emerging technologies of 4IR, get a copy of Understanding the 4th Industrial Revolution.

If you want to gain Strategic 4IR Skills, sign up for the 4IR Foundation Course at the 4IR Academy.

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