What’s The Hype About AI?

Artificial Intelligence (AI) is becoming a part of our lives whether we like it or not. Many of us rely on it in ways big and small, whether it is a chatbot answering our customer service questions online or Alexa taking our requests as a home automation tool. In many ways AI technology makes our lives easier, so what’s all the hype about as AI continually evolves? Let’s take a closer look at what AI is, how it is being used currently, and what the future may hold for this technology.

What Is AI?

Tech Target describes AI or artificial intelligence as “the simulation of human intelligence processes by machines, especially computer systems.” AI often imitates human thinking by analyzing data collected from different interactions. Often the data is fed through an algorithm that allows the technology to digest vast amounts of data in order to improve tasks such as learning, planning, knowledge representation, perception, and problem-solving. Most of us have had some experience with AI even at its basic level. For example, Forbes Online states that nearly 30% of people who use the internet or other technology are not aware that they are using AI to perform tasks such as shopping online, searching the internet, ordering food deliveries, hailing a ride, navigating from place to place, or enjoying music and movies. In most of those cases, AI is in use in some form. Most of us have become fairly adept at using AI as a personal assistant such as with Alexa or Google Home. From taking commands for shopping lists to playing music, and getting the daily news, these innocuous home AI devices make life easier and more convenient.

AI Concerns

While many view AI as a way to make life and business dealings easier and more efficient, there are some who are reluctant to use the technology for several reasons. One of the main concerns includes the idea that AI could make humans redundant. For instance, if a human’s job is to analyze reams of data that a computer could complete at a faster rate and with vastly larger amounts of data, wouldn’t a human not be needed for that position? The truth is that while AI may be good at reading and analyzing data and even finding patterns in that data that humans may miss, they are still not sophisticated enough to act independently and free of human intervention. Some jobs may be replaced by automation, but at the same time, new jobs are created by the need to design, implement, sell, manage, and oversee technology and AI. Forbes states, “Generally, these tend to be higher-paying, safer, more comfortable, and more rewarding jobs than those replaced.”

AI Applications

For those unaware of the many applications that AI has in our daily lives, here are just a few examples to let you know that this is not a fad or a trend but rather the future of automation and machine learning.

AI is used in education to grade student learning, customize tests, and analyze data from tests.
In the healthcare industry, AI is being used to help monitor, diagnose, and treat patients.
The financial world uses AI to crunch data for Wall Street Statisticians and to operate programs like Turbo Taxes.
Businesses use AI to analyze marketing data and personalize messages to consumers.
AI can streamline tedious tasks in manufacturing.
AI serves as chatbots for customer service online.
The transportation industry relies on AI for cars that can park themselves, drive themselves, or have automated features.
Ubers and rideshares use applications to predict the most used ride times.
AI is commonly used in eCommerce as a way to individualize a shopper’s experience and remind consumers of items they have viewed/bought previously.

AI is here to stay and, if used properly, can help your business become more efficient and customer-focused. Talk to our team about how AI may help in your industry.