What is artificial intelligence and why do businesses need it?

Artificial intelligence is overturning the conventional view of what can be accomplished with technology.
This breakthrough has changed the face of traditional industries and opened new perspectives for entrepreneurs.

In this article, we'll break down what exactly is AI and how is it useful for businesses?

What is artificial intelligence?

Artificial Intelligence (AI) is a field of computer science concerned with creating systems and programs to perform tasks that normally require human intelligence.

These systems are capable of analyzing data and extracting information. Thereby enabling machines to learn from experience, adapt to new information, and perform tasks that require intelligence.

3 types of AI

Narrow AI (Narrow AI)

Specializes in solving specific problems. Possesses a limited area of expertise and has no self-awareness or general intelligence.
Examples are the following voice assistants: Siri, Google Assistant ( they have a recommendation system, automatic classification algorithms, etc.).

Strong AI (General AI)

This type has the ability to understand, learn and perform tasks in different areas, similar to human intelligence. It is also capable of solving a variety of tasks and adapting to new information. However, this level of AI has not yet been achieved.

Higher-order AI (Superintelligence)

Is a hypothetical level that surpasses human intelligence in all aspects. Has the ability not only to understand and solve problems, but also self-awareness, creative thinking, and self-improvement.

Why do businesses need AI?

Implementing AI in business has many benefits aimed at improving the quality of decision making.

Here are a few key reasons why businesses can benefit from AI:

• Process Automation

Helps optimize routine and time-consuming tasks, thereby reducing errors and increasing productivity, allowing employees to focus on more creative and strategic tasks.

• Data analysis

Ability to process and analyze vast amounts of information, identifying important trends and patterns that help the company make more informed and predictable decisions.

• Increased personalization

Ability to create personalized interactions with customers by providing exactly the right products, services or recommendations that match their preferences and needs.

• Forecasting and planning

Providing accurate forecasts and data-driven analysis of future events to help businesses optimize production, logistics and financial processes.

• Improved customer service

Providing faster and better customer support, such as through chatbots that can answer questions and solve problems in real time.

Example:
Let's take ABC Company, which has its own store.
By using AI to analyze data on purchases, customers, and trends, businesses can provide personalized recommendations to customers, improving their shopping experience.
And it can also optimize inventory management by automatically predicting which items will be in demand in the future, avoiding shortages of goods or overstocking.

By doing so, we can see that integrating AI into business processes, makes it easier for the company to operate.

Types of artificial intelligence

Machine Learning (ML) - is a subsection of AI that is concerned with developing algorithms and models that allow computers to learn from data and experience to perform tasks without explicit programming.
The basic idea behind machine learning is that systems can automatically improve their performance as they gain experience.

For a machine to make decisions, you need 3 things:

• Algorithm

A special instruction for your computer that tells you what to do and how to use the data.
An example would be the software we wrote that organizes different types of products: "T-shirts", "Shoes", "Pants".

• Data set

Examples that the machine learns from. This can be images, videos, text, etc.
In the case of clothing, we will need lots of pictures of different types of merchandise. The more examples the better, as this increases experience, just as people learn from experience.

• Signs

This is what the machine pays attention to when making a decision. If we teach the machine with a teacher, we highlight features ourselves, such as the type of clothing and its category.
If learning happens without a teacher, we feed all the information to the machine and it looks for patterns on its own.
If necessary, we can help her understand or correct her conclusions.

Deep learning and deep learning - is a type of machine learning based on neural networks.
It finds applications in image processing, speech recognition, and even in the creation of autonomous vehicles.

For example, a car factory that is working to develop autonomous cars that can adapt to road conditions and the behavior of other road users.

Typically used in integration:

• Computer vision: object recognition, image segmentation, face detection, etc.
• Text and language processing: through automatic translation, text tone analysis and text generation.
• Recommender Systems: through personalized recommendations in online stores and streaming platforms.

Natural Language Processing (NLP) - a field of artificial intelligence that allows computers to analyze and understand human language. In business, it is used to automate customer interactions, analyze feedback, and even create content.
For example, chatbots that can communicate with customers in natural languages, resolving their issues and improving the customer experience

How do you develop an AI?

Development of artificial intelligence - A fascinating and promising path that can be explored in two ways: independently or on a bespoke basis.
It is important to realize that this process can be lengthy and complex. Preparing data, selecting algorithms, setting parameters - each step takes time and careful thought.

However, you can order https://sailet.pro/development_ai from our team, which will give you a small advantage:

Expertise and experience

We know which methods and techniques are best suited for specific tasks and can guarantee quality and efficiency.

Efficiency and time saving

By ordering development from us, you free yourself from having to learn the details and spend precious time on each stage of development.

Individual approach

We understand that every project is unique and will listen carefully to your requirements and tailor the development to your needs, creating a model that perfectly fits your goals.

Guaranteed results

Our experience allows us to avoid common mistakes, ensuring successful project completion.

Conclusion

Artificial intelligence is a tool that is changing the approach to management and decision-making in business. And understanding its role for modern business is becoming a key competitive advantage for entrepreneurs who are ready to keep up with the times.

Also, friends, for more information about AI development, you can contact us on the form below.
We are always ready to help!