To say that we can provide “all you need to know,” in one article about artificial intelligence is akin to saying you can learn all you need to know about a person from a single conversation. Even the hiring process in the corporate world requires applications, resumes, cover letters, multiple interviews, and the like.
Our approaches then are a little different, meandering even, in the attempt to draw a better picture and bridge a greater degree of understanding in each disruptive technology we explore. This is also why we choose to educate and entertain through infographics, you know those pictures with information written on them in the attempt to convey an idea or two. Always citing our sources too, even when minimally used, we love to share info. We would be remiss not to mention our love for the dummies presentation of Artificial Intelligence (#CommissionsEarned).
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Having covered both a basic understanding of AI as data and relationships, and the five human (tribalistic) approaches to understanding and creating AI, we now turn our musings toward the ways in which AI is currently applied to our world.
Efficiency in Automation
AI is boosting the capacity of automation like never before. With the introduction of artificial intelligence, automation creates the opportunity to handle the unexpected. No where is this embodied more than in the automated vehicle movement initiated and championed by Tesla!
Complex Analytics
Analytics is the most easily identified and readily available opportunity in artificial intelligence. The field of medicine has seen an explosion of this impact in the analysis of medical imaging.
Another field that has been forever changed is product economics from marketing to distribution. Even the soda industry growing with freestyle soda machines is now wholly linked to the machine learning and predictive AI models produced by companies like Alteryx.
Digital Media
We all know about the much-touted advances in CGI and the production of big Hollywood films and blockbuster video games. However, AI is deeply impacting all forms of digital media. Traditional news reporting is even discovering the opportunity for advancement. New story developments are sought in entirely new ways as “AI can help the news-gathering process itself.“
Resource Scheduling
Reducing complexity and increasing the streamlined nature of workflows and distribution channels, AI is altering many long-standing business models. In the medical profession, hospitals use Artificial Intelligence to place patients, particularly in times of increased patient inflows. In engineering and construction trades, AI is used to help reorganize and more efficiently structure daily allocations of resources to different projects, adjust on site work flows and plan and then replan for the most effective outcomes. For a fantastic, while paper on the latter follow this link!
Pattern Tracking
Detecting unusual activity by pattern tracking in our financial accounts is a perfectly suited task for machine learning and artificial intelligence. Be they big banks or credit card companies this tool has become synonymous with the financial industry.
Built on a number of well recognized analytical models such as transaction profiles, collaborative profiles, merchant profiles, and user-defined profiles, these tools allow for the anticipation of “individual behaviors and the execution of fraud detection strategies at scale.” If you happened to skip over it, the link presented in the previous sentence is a white paper created by the Fair Isaac Corporation (FICO) that provides an excellent white paper to help us understand the principles in applying these technologies for problems like fraud detection.
Customer Service
Bot agents that quickly and diligently respond to customer issues, collecting customer data and tailoring experiences to unique clients, and using machine learning to drive reward programs are all directing the customer service in the 21st century. All of these elements combine in the most unique way to “improve customer loyalty and brand reputation, and enable employees to focus on higher-value tasks that provide greater returns” stated one Forbes article in 2019.
Safety
Ensuring the safety of the workforce has long been a goal in today’s companies. To these ends, AI is being enabled so that rates of human error are diminished, dangerous tasks no longer place humans in harms way, location tracking, and even ending workplace harassment are all lauded as goals in one ProSapien article on the subject.
Like this article? Check out our BCB Cyber Wisdom page to see what other topics we seek to explore in the future.