Artificial Intelligence, or AI, is the term we use to describe the theory and development of computer systems that are able to perform the kinds of tasks that would normally require human intelligence. AI makes it possible for machines to learn from experience, the way that we do.
AI will impact technology and society in ways that we cannot see. Amara’s law states that “we tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run”; over the long term, AI will have a greater impact than we may imagine.
AI can be used to solve traditional problems in new ways – rather than replicating or supporting traditional methods, it can bring new types of creativity to the forefront.
We need to consider the optics of business change when considering AI strategies. The introduction of artificial intelligence to digital transformation initiatives will result in a dynamic where employees no longer “use” technology, but collaborate with it. Human intelligence will still be an integral part of business. There are some things that even the most advanced computers cannot easily achieve – Steve Wozniak said that when a robot could enter an unfamiliar house and make a decent cup of coffee, he would believe that AI had truly arrived. AI cannot take our place, but it can work alongside us.
People are concerned that their jobs are at risk. While it’s true that jobs will change, and there may be a difficult transition period, AI will give people the ability to be deployed more productively in their roles by taking over the repetitive, ‘easy’ tasks.
You should consider the 8 ‘C’s of AI. The 8 ‘C’s can help to make AI relevant and actionable when envisioning and executing a successful AI strategy for your business.
Customers – AI can be used to help understand and improve customer experience and engagement. Technology like chatbots are great for this.
Compete – Listening to customers effectively can get your business ahead of the competition.
Capitalize – AI can increase sales and benefit productivity. A great example of this is the improved Google Handwriting Input, a technology that recognises handwriting in over 100 languages, enabling more users to handwrite text on their devices.
Create – AI can help to create new avenues for accessibility, creativity and ethics. The AI behind Microsoft’s Innervoice, for example, creates an interactive platform that can make connections between facial expressions and language, helping improve communication for people with autism.
Costs – AI can help manage, measure, minimize and mitigate costs. You can save money in the future via cost alleviation and save money now via cost reduction.
Challenges – AI can help us solve industry specific challenges. The human mind enjoys doing what it is good at. We like expressing ourselves, looking for patterns, searching for answers, and solving complex problems. Nobody likes licking envelopes, or doing long division. Pain and boredom are signals that our talents are being wasted. Instead of suffering, trust your creativity and find a more efficient method of accomplishing tasks. In the current information economy, if you’re paying someone to do something they hate, you’re throwing money away.
Calculate – Quantifying and maximising in the Information Economy can be improved with the help of AI.
Cognition – AI can help to understand and leverage cognitive technology. Technology that uses AI to transform business processes, like chatbots, are inspired by human cognition, and this is what makes them as effective as they are.
Start small. Don’t begin by trying to build your own code – start with prebaked technology. And remember it’s all about the data; without data, there would be nothing powering AI. It needs to be understood and used effectively.
Join us to discover ‘the art of the possible’ for AI in your business and unlock new opportunities for growth and competitive advantage.