Artificial Intelligence is Transforming Business

The concept of Artificial Intelligence is still ambiguous for some people nowadays as they connect it with science fiction. but as Artificial Intelligence grows in our daily lives this definition decreases and becomes more prevalent.
Artificial intelligence (AI) is not a new concept. It started back in the 1950’s and took decades to become a technological reality. Nevertheless, AI is beginning to take place in our everyday lives due to higher processing speeds and exposure to huge amounts of data,
AI is increasingly becoming a strategic resource in business that is widely used. For business leaders, it is an essential tool that they need to take advantage of in order to maintain a competitive edge. It goes hand in hand with leading emerging technologies such as machine learning, cloud computing, and big data.

What is Artificial Intelligence?

Artificial intelligence refers to a digital computer or machine-controlled robot’s ability to execute tasks that are commonly associated with intelligent beings. The concept is often applied to the development project of structures endowed with human characteristic mental mechanisms, such as the ability to reason, discover significance, generalize, or learn from past experience.

1950s–1970s

Neural Networks

Early work with neural networks stir excitement for “thinking machines.”

1980s–2010s

Machine Learning

Machine learning becomes popular.

Present Day

Deep Learning

Depp learning breakthroughs drive AI boom.

Artificial Intelligence and Business Today

Artificial intelligence is commonly seen as a complementary device instead of acting as a substitute for human intelligence and creativity. While AI is currently struggling to complete common sense tasks in the real word, it is capable of processing and analyzing large amount of data much faster than a human brain could.
computer programs are programmed with human intelligence to perform human activities so as to free up or help humans focus on tasks that require even higher levels of intelligence or creativity.

The fear of many managers is whether the application of artificial intelligence in business will eliminate jobs and make employees redundant. The short answer is, no, not at all. Artificial intelligence will rather help to maximize the potential of company staff. It has been proven to augment teams by working to get a lot of work done in less time; intern freeing them to work strategic and tactical work.

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