What is AI?
A machine with the ability to perform cognitive functions such as perceiving, learning, reasoning and solve problems are deemed to hold an artificial intelligence.
Artificial intelligence exists when a machine has cognitive ability. The benchmark for AI is the human level concerning reasoning, speech, and vision.
Nowadays, AI is used in almost all industries, giving a technological edge to all companies integrating AI at scale. According to McKinsey, AI has the potential to create 600 billions of dollars of value in retail, bring 50 percent more incremental value in banking compared with other analytics techniques. In transport and logistic, the potential revenue jump is 89 percent more.
Concretely, if an organization uses AI for its marketing team, it can automate mundane and repetitive tasks, allowing the sales representative to focus on tasks like relationship building, lead nurturing, etc. A company name Gong provides a conversation intelligence service. Each time a Sales Representative make a phone call, the machine records transcribes and analyzes the chat. The VP can use AI analytics and recommendation to formulate a winning strategy.
In a nutshell, AI provides a cutting-edge technology to deal with complex data which is impossible to handle by a human being. AI automates redundant jobs allowing a worker to focus on the high level, value-added tasks. When AI is implemented at scale, it leads to cost reduction and revenue increase.
Type of Artificial Intelligence
Artificial intelligence can be divided into three subfields:
Artificial intelligence is a buzzword today, although this term is not new. In 1956, a group of avant-garde experts from different backgrounds decided to organize a summer research project on AI. Four bright minds led the project; John McCarthy (Dartmouth College), Marvin Minsky (Harvard University), Nathaniel Rochester (IBM), and Claude Shannon (Bell Telephone Laboratories).
The primary purpose of the research project was to tackle "every aspect of learning or any other feature of intelligence that can in principle be so precisely described, that a machine can be made to simulate it."
The proposal of the summits included
How Can a Computer Be Programmed to Use a Language?
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