What is artificial intelligence (AI)?
What is AI?
AI, or Artificial Intelligence, refers to the development of computer systems that can perform tasks typically requiring human intelligence. Such systems can learn, reason, solve problems, understand natural language, recognize patterns, make decisions and recommendations to the extent that their design allows to simulate and emulate human cognitive processes, enabling machines to function intelligently and autonomously.
What is the difference between Narrow AI vs. General AI?
AI can be broadly categorized into two types:
- Narrow AI (Weak AI): Narrow AI refers to systems designed and trained for a specific task or a narrow range of tasks. For example virtual personal assistants like Siri and Alexa, recommendation systems like those used by Netflix or Amazon, and image recognition systems used in medical diagnostics. Narrow AI systems are highly specialized and do not possess general intelligence or the ability to perform tasks outside their designated functions.
- General AI (Strong AI): General AI refers to systems that possess the ability to understand, learn, and apply intelligence across a wide range of tasks. These systems would be capable of performing any intellectual task that a human can do, with the ability to transfer knowledge from one domain to another.
What are the key components and techniques used in AI?
- Machine Learning (ML): A subset of AI that involves training algorithms to learn from and make predictions or decisions based on data. Machine learning models improve their performance over time as they are exposed to more data.
- Deep Learning: A specialized form of machine learning that uses neural networks with many layers (deep neural networks) to model complex patterns in data. Deep learning has been particularly successful in areas such as anomaly detection, image and speech recognition.
- Natural Language Processing (NLP): A field of AI that focuses on enabling machines to understand, interpret, and respond to human language. NLP powers applications like language translation, sentiment analysis, and chatbots.
- Computer Vision: An area of AI that enables interpretation and understanding of visual information from the world, such as images and videos. Applications include facial recognition, autonomous driving, and medical image analysis.
- Generative AI: Not to be confused with the General AI, this is a brunch of deep learning that utilises algorithms such as large language models to interpret abstract patterns from various formats of data and create text, images, videos.
What are the AI use cases?
AI has the potential to transform various industries by automating routine tasks, providing insights from large datasets, enhancing human capabilities, and creating new opportunities for innovation.
- Predictive Analytics: AI-driven predictive analytics can analyze historical data to forecast future trends, helping businesses anticipate market changes and make informed decisions.
- Process Automation: AI automates routine tasks such as data entry, invoice processing, and order management, reducing human error and freeing up employees to focus on more strategic activities.
- Enhanced User Experience: AI-powered chatbots and virtual assistants provide real-time support and personalized experiences, improving productivity and satisfaction.
- Supply Chain Optimization: AI can analyze vast amounts of data from the supply chain to identify inefficiencies, predict demand, and optimize inventory management
- Anomaly Detection: AI excels at identifying unusual patterns in data, which is crucial for fraud detection, network security, and quality control in manufacturing. By flagging these anomalies, AI helps mitigate risks and maintain operational integrity.
The technological advancements are rapidly scaling the range of use cases and opportunities for AI applications. We are shaping the responsible development and application of the algorithms tailoring these use cases to the goals and needs of the organisations.
Dive into this journey with us and explore more.
Author
Tetyana Drobot
Sales & Partnerships
