Though not an alternative to human knowledge and ingenuity, AI is considered a supporting tool to help humans. Though Al presently has a tough time completing different tasks involving common sense in the real world, it is able to process large amounts of data faster compared to a human brain.
Artificial intelligence systems play a vital role when unstructured data like images, social media or open-ended surveys are needed to make a decision. Amazon, for instance, recommends products to buyers before even they search for that particular product. Amazon has made this possible using machine learning techniques and now layer in unstructured data on top of its powerful, integrated collection of structured analytics such as product histories, addresses, and payment details of customers.
AI Business Analytics
Amir Husain, CEO of machine-learning company, SparkCognition, said: “AI is like the second coming of software. It is an innovative software capable of making potential decisions on its own and is adept at acting in situations that programmers could not even think of. Unlike traditional software, it has a broader latitude of decision making.“
Those skills make immensely valuable across many industries, whether it’s just enabling visitors and team easily pave their way around a corporate campus or doing a complex task of monitoring the working of a wind turbine to estimate when it needs repairs before it breaks down.
AI has improved customer relationship management (CRM) systems to a great extent. Software, for instance, Salesforce or Zoho needs a great human intervention to stay up to date. By using AI, a normal CRM system can be transformed into an automated, self-updating platform that keeps up your relationship management.
Directly or indirectly, AI helps different sectors, and organisations are embracing AI in an effort to improve their business analytics methods. These companies use artificial intelligence courses to train their employees on the job and improve their approach to AI.
Banking & Finance Investing In AI
Today, the BA role has been completely automated across the industries like finance, investment banking, or portfolio management. Thanks to artificial intelligence, a new dimension of human thought and work processes are now possible. With so many benefits of AI, we still can not say that advanced machines will take over business analysis. However, there are many tasks have been taken over by robots, automated apps, and digital assistants. […]