Author: Theresadevi Moodley (Academic | MANCOSA)
AI has taken the world by storm.
Businesses of all shapes and sizes need it to remain competitive in a world where consumers expect ultra-fast responses and immediate gratification.
Hence, managers and business leaders need to know what AI and machine learning is all about.
MANCOSA offers an AI and Machine Learning for Business Leaders short course that’ll allow you to step into the world of artificial intelligence.
This article will discuss machine learning and artificial intelligence, explore the top six ways AI has changed businesses, and show you which artificial intelligence courses you should consider.
Before we look at how AI and machine learning impact businesses in our digital age, let’s first discuss what it is.
AI, short for artificial intelligence, refers to any computer software that displays humanlike behaviour — learning, planning, and solving problems.
Thus, the technology or software doesn’t require to be pre-programmed. Instead, it uses algorithms, enabling it to work with its intelligence. Examples of AI software include Siri, Chatbots, AI Text Editors, and more.
Machine learning is one of the most predominant forms of AI in businesses. It’s primarily used to quickly process large quantities of data, extracting knowledge that a human would never be able to do (or at least not nearly as fast or accurately).
After extracting the knowledge, it can make predictions or give accurate results.
For example, the AI image tool DALL·E uses data provided by humans to generate unique images. Therefore, if a person were to type in: “Image of a woman sitting on a throne with a white cat on her lap”, the tool would generate a unique image matching the description in a matter of seconds. As more users input data into the software, it’ll learn to provide more accurate results.
Machine learning is used in various places, such as Google search algorithms, emails, social media, etc.
This is why artificial intelligence courses are on the rise, with more business leaders stepping into the lucrative AI industry to remain competitive. Discover more about why informationl technology is a great career choice.
More and more businesses are adopting AI. According to a survey conducted by Gartner in 2019, the number of companies implementing AI into their processes grew by 270% in four years.
Here are some of the main ways AI is being incorporated into businesses:
Since businesses need to perform a wide variety of tasks every day, they find it extremely useful to use AI tools that automate parts of the process. This way, their employees can focus on more critical tasks.
For example, instead of having customer support teams manually answer all customer queries, chatbots are used to answer some of the most frequently asked and basic questions. This allows the customer service team to focus on more difficult support cases.
Furthermore, AI also eliminates many human errors — ensuring higher levels of accuracy.
As mentioned earlier, AI technology can perform tasks much faster than humans. While it would take a person days, weeks, or even months to sift through data, it takes an AI tool seconds or minutes.
As a result, this drastically decreases the amount of time spent on specific tasks. This means employees can move on to the next phase faster. This way, humans and AI work side-by-side to deliver projects in a shorter timeframe.
Artificial intelligence is an irreplaceable ally in identifying holes in a company’s website and network security.
AI software can recognize cyberattacks and threats by looking at data patterns. After identifying the danger, it can find the source and help prevent future attacks. It also works continuously, meaning networks will always be protected — day or night.
AI uses a lot of data to identify patterns in people’s online search and shopping behaviours. As a result, it can use historical data to predict customers’ future searches and provide them with the most relevant information.
This means users have more customized experiences — catered towards their needs and interests. This is excellent news for businesses since they’ll be able to target their ideal audience without too much effort.
Humans aren’t able to take in and analyze massive amounts of data. But AI can. With these advanced technologies, AI can “summarise” the data in an easily digestible way so employees can understand it — without getting overwhelmed.
From the research, employees can see market trends, analyze competitor data, and decide on the best action plan much faster. Furthermore, since AI is quicker and more precise than humans, some decisions can be delegated to machine learning based on identified patterns.
Typically, the recruitment process looks as follows:
Whereas in the past, this entire process used to be handled by the human resource team, companies can now hand over a chunk of the recruitment process to AI.
This is because AI-powered recruitment can find skilled candidates efficiently without the assistance of humans. AIs can read the job description and choose the best candidates based on their qualifications.
Furthermore, it uses machine learning algorithms to identify patterns in candidates’ interview answers, on their social media profiles, and more to reach a decision.
Are you interested in learning more about machine learning and artificial intelligence?
Do you want to start implementing AI into your business? Then AI courses could be a great choice for you.
MANCOSA offers short IT and artificial intelligence courses to give you insights into the information technology and AI industries so you can see what it’s all about.
The AI and Machine Learning for Business Leaders short course is an excellent option if you’re ready to explore artificial intelligence for business to gain a competitive edge in your space.
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