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The future of business with AI

Mon, Feb 08 2021, Maya Angelou

"Intelligence is not a skill itself, it's not what you can do, it's how well and how efficiently you can learn new things."
Artificial intelligence (AI) is advancing out of research labs and into the business world. Its power is being harnessed by leading companies across numerous industries — from banks examining countless data points in seconds to detect fraud, to call centers deploying chatbots to enhance customer interactions.
The recognition of AI in mainstream society might be a new phenomenon, but, it is not a new concept. The field of artificial intelligence came into existence in the year 1956. It took decades of effort to make notable progress in developing an AI system to make it a technological reality. In the business world, artificial intelligence has extensive uses. Most of us daily interact with an artificially intelligent system.
Artificial intelligence is not a replacement for human intelligence, instead, it is a support system. Although AI might not be good at completing simple tasks, it is skilled at processing and analyzing huge sets of data as compared to a human brain. Due to this quick process, business leaders with the help of AI can effectively resolve problems and take prompt decisions.
Artificial intelligence is kind of the second coming of software," said Amir Husain, founder, and CEO of machine learning company SparkCognition. "It's a form of software that makes decisions on its own, that's able to act even in situations not foreseen by the programmers. Artificial intelligence has a wider latitude of decision-making ability as opposed to traditional software."
These traits make artificial intelligence extremely valuable throughout many industries. Artificial intelligence is a vital associate when it comes to looking for loopholes in computer network defenses. With the escalating complexity of cyberattacks, cybersecurity specialists require additional assistance and this where AI is playing a significant role. Perhaps the most superior tool developed might be AI, but just like everything else, it can have useful as well as unfavorable consequences. If AI can be put to use responsibly, transparently, and justly, it would be a boon for businesses advancing towards growth and building a better world.

Related Post

Robotics – Changing Our Lives and Future

Envision a future where robots are so integrated into the foundation of human life that they become as common as smartphones. Robotics is a field that has a great potential to improve our lives at work, home, and in-play. They can be a support for learning physical as well as cognitive activities. Robots for years have helped humans do a task that was considered dangerous. Now, the field of robotics has progressed into the exploration of unreachable environments from the depth of the ocean to deep space. 

Robots being made capable enough to adapt, learn and interact with human beings and other machines on a cognitive level. Technology has progressed so rapidly that over the past few decades computing has been made indispensable. The digitalization of everything has made human life easy and so accessible. These digitizations put together with robotics assures a future that only existed in one's imagination.

Robots are becoming so capable that they can execute complex computations and interact with the world on their own, with richer sensors and better actuators. With a future close, where robots and humans work alongside is creating many new job opportunities and saving time for humans.

Robots have only advanced in industrial fields or only in factories but have also come about to do simple human tasks such a mowing our lawns, milking cows, vacuuming the house, serving in restaurants, and so many other areas. In a few years, they will touch even more parts of our lives.

Today's robots are still quite limited. They cannot figure things out and their communication is often brittle. It also takes a lot of time to build new robots. The progressive adoption of robots will require integrating robots in the human world rather than integrating humans into the machine world.

The modern Cloud Ecosystem

The hardware and software infrastructures of various companies have continuously transformed digitally over the years. There has been a massive migration from "on-premise" systems to cloud deployments. Cloud computing has spurred the technologically advancing industries and continues to be the fundamental factor of an organization's infrastructure and product deployment.

To be simply put in a sentence, cloud computing is the process of migrating computing resources such as servers, databases, software, etc., from a local location to a remote cloud location and accessing these resources over the internet.

When we hear of cloud computing, the major cloud providers like AWS, Microsoft Azure, and Google Cloud Platform pop into our heads. But cloud computing is not limited to just the services provided by these companies; it is much bigger than that. At its core level, cloud computing is simply a notion for any computing done over the internet, from the software you use on a daily basis to the infrastructure your favorite applications run on.

Presently, the interdependent components that work together to facilitate cloud services form a complex system, and this system is called the cloud ecosystem. In nature, an ecosystem includes living and non-living things that are connected to work together. In the same way, a cloud ecosystem consists of hardware and software but also includes cloud customers, cloud engineers, consultants, etc.

A public cloud provider is at the center of a cloud ecosystem. It could be a PaaS or IaaS provider. From the center radiating are the software companies that use the cloud provider's anchor platform. It also includes consultants and companies that have an alliance with the anchor provider. Since the companies overlap to make a complex ecosystem, there is no vendor lock-in.

New business models can be build using a cloud ecosystem. In a cloud ecosystem, it is easy to analyze data on how a new change or update might affect the other parts of the system. Cloud services are on a pay-as-you-go basis which, makes it efficient for customers. With all your resources set up in a cloud-based environment, it is easy to collaborate from anywhere in the world since these resources can be accessed over the internet, thus providing flexibility.