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Transforming business through artificial intelligence

Transforming business through artificial intelligence

In a 2016 survey commissioned by software giant Microsoft, the company discovered that business leaders in Singapore are showing urgency in embracing the “Fourth Industrial Revolution”, defined as the use of technologies such as Internet of Things (IoT), artificial intelligenceArtificial Intelligence knows many different definitions, but in general it can be defined as a machine completing complex tasks intelligently, meaning that it mirrors human intelligence and evolves with time. (), advanced data analyticsData analysis is simply put the study of data in order to take better informed decisions. All business decisions should be made with the best information available, data analysis tries to provide this information through different algorithms and statistical techniques., and mixed realityMixed Reality is the third part in the reality trio, and here the key phrase is flexibility. Mixed reality takes the best of augmented and virtual reality to flexibly adapt to the needs and whishes of the user. This means that the user can submerge into a completely different world while still interacting with his/her surroundings when wanted. , all powered by .

SwissCognitiveThree quarters of business leaders believe that they need to transform to a digital business to enable future growth. In just a few short years, both artificial intelligence and machine have become more efficient and accessible by more people. Jordi Ribas, Microsoft’s corporate vice president in charge of products, said when people think of , they often think of high-tech, visible products like robots or -powered vehicles.

What many people don’t realise, Mr Ribas said, is that also is having a tangible impact on most people’s lives through products like search or Microsoft’s Office 365 productivity suite of apps. In December 2017, Microsoft announced the availability of the Microsoft Azure Service, and Microsoft Services Language Understanding (LUIS) to help businesses augment their customer offerings by utilising software with baked in.

Both available on Microsoft’s Azure cloud platform, Azure Service enables developers to create conversational interfaces on multiple channels, while LUIS helps developers create customised natural interactions on any platform for any type of application, which includes chatbotsChatbots are computer programs which were engineered to converse in spoken or written form with humans. They are usually used in dialogue systems with a limited topic range. For example, they can answer basic customer questions or help you buy the correct train ticket.. According to Microsoft, more than 760,000 developers from 60 countries are currently using LUIS, and over 240,000 developers have signed up to use the Azure Service. In the business world, is poised to have a tremendous impact. It is already in use with thousands of companies around the world. However, its true usefulness has yet to be tapped.

As the years pass, the effects of will be felt on an order of magnitude in areas such as manufacturing, retail, transport. Nearly every single industry has the potential to be transformed by artificial intelligence. In the survey above (called the Microsoft Asia Digital Transformation Study), managing director of Microsoft Singapore Kevin Wo said it has shown that business leaders have started to act on the need for digital transformation to address the challenges and opportunities of the Fourth Industrial Revolution in the region. […]

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