Digital Themes

Artificial Intelligence (AI)

What is Artificial Intelligence?

Artificial intelligence (AI) is the application of advanced statistical analysis which includes machine learning. AI is used to interpret results from a series of events, predict outcomes, take actions, and automate decision-making processes. Artificial intelligence is used to simulate cognition processes with computer systems. Artificial intelligence requires a multi-discipline approach to problem solving. The goals of AI are to process and analyze large amounts of data quickly to arrive at solutions. Most associated with science fiction, artificial intelligence is actively used for commercial purposes.

The field of artificial intelligence got its name from famed Stanford University computer science professor John McCarthy. His body of work includes significant advances in systems that mimic human level intelligence.  His work differs from others in that he emphasized the use of mathematical logic to represent the knowledge intelligent machines should and use for reasoning.

In business, artificial intelligence can be used for a range of tasks from process automation to sophisticated fraud detection. Machine learning is used to analyze data and learn from it, without human intervention. As new data is acquired, algorithms learn and adapt.

Examples of varied artificial intelligence use across industries:

  • Electric and Autonomous Vehicles
  • Fraud detection
  • Cybersecurity
  • Manufacturing robots
  • Digital assistants – Siri, Google Assistant
  • Google Search On
  • Sentiment analysis - Social media, live chat, etc.
  • Proactive healthcare management
  • Medical imaging and disease mapping
  • Automated financial investing
  • Virtual travel booking agent
  • Real-time language translation

How are businesses using Artificial Intelligence?

  • Customer convenience. Natural Language Processing (NLP) tools provide an intuitive communication link between human and systems. NLP gives computers the ability to understand written and spoken word. This functionality is found in language translation, chatbots, digital assistants, and more.

  • Consumer preference projection. Predict consumer choice based on past purchases or service usage.

  • Personalized marketing messaging. Highly personalize marketing messaging to target consumers based on interests and other collected data.

  • Improve supply chain efficiencies. In-depth monitoring of supply chain processes and the ability to gain insight from real time data.


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