With rapid development of innovative technological solutions, Artificial intelligence (AI) has now emerged as a key variant on how data is analysed to inform decisions at corporate and individual levels.
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AI is the simulation of human intelligence processes by machines, especially computer systems. Today’s top AI firms are leaders in global business development, as artificial intelligence has grown in importance in the commercial world. This includes top companies such as Tesla, Google, Amazon, Nvidia, IBM, Microsoft, and Alibaba.
AI used to be an idea of a super-intelligent computer doing god-knows-what on a site in Silicon Valley. AI applications are now present in our day-to-day lives.
Every time you open your Twitter newsfeed and see your favourite tweets, perform a Google search, and see a relevant product recommendation, or even open your Gmail app and see irrelevant emails classified as spam, you are interacting with an AI-powered system.
Companies have developed/adopted AI applications to solve problems in various sectors by facilitating quick collection of information and analysis to inform decision-making with a high degree of accuracy compared to relying on human beings.
In healthcare, AI is helping in AI-assisted surgeries, medical data security and processing, AI-enabled virtual healthcare assistants that are reducing unnecessary hospital visits, and AI biotech research that is developing life-saving drugs in a fraction of time and cost. Examples include Corti, Arterys, Enlitic, PathAI, Pager, and Atomwise.
In the ride-hailing services sector, AI companies are enabling autonomous self-driving cars. These vehicles are equipped with sensors that constantly monitor what is going on around them and use AI to make the necessary modifications.
Every millisecond, these sensors gather hundreds of data points (such as auto speed, road conditions, pedestrian location, other vehicles, and so on), and then utilise AI to understand the data and act on it—all in the blink of an eye.
In security, US authorities have hired Gotham, an AI-based platform for analysing data and making mission-critical decisions.
AI applications have helped organisations scale and optimise their customer service tasks. For instance, Salesforce, a customer relationship management firm, uses AI chatbots and automated online assistants to respond to clients, solve refunds, and identify the best employee to handle a unique client. […]
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