Artificial Intelligence (AI) is a popular buzzword in the tech industry today. AI is essentially an area of computer science that focuses on creating intelligent machines that work and react like humans. They can include speech recognition, learning, planning, and problem-solving.
Top AI news usually feature self-driving cars making use of AI and machine learning. They are considered the next big thing as they make use of a combination of computer vision, image recognition, and deep learning to build automated skills that are required to pilot a car. AI technology used here ensures that the car stays in the same lane and avoids unexpected obstructions like pedestrians.
John McCarthy who coined the term in 1956 is considered the father of Artificial Intelligence. Although AI as a concept has been around for several years, AI technology has gained importance only recently during the last decade. The growth of machine learning and data sciences can be largely attributed to advances in the field. AI and data science have been substantially aided by the mass production of cheaper Graphics Processing Units (GPUs), the growth of learning systems supported by big data, and better algorithms or AI software to recognize patterns. AI is definitely on the uptick now as it is being used in several fields and artificial intelligence courses have found high demand as well.
AI is quickly becoming an essential part of the technology industry due to its versatile nature. It has found applications in areas like healthcare, business, education, finance, law, and manufacturing. AI is proving to be a silver bullet for small and large organizations. AI has been influencing marketing outcomes by delivering more personalized searches, smarter ads, refined content delivery, and continued learning with all the data that is collected.
AI has been used in digital marketing for better customer segmentation, better accuracy in targeting the audience for marketing, streamlining marketing efforts, and improved customer interactions with the help of chatbots. With AI technology and software garnering more interest by its users, it is a win-win situation for both consumers and businesses.
The challenges faced by AI and AI-related technologies include security and ethical concerns that come with a large amount of data collected. For AI technology to churn out results, it must rely on huge amounts of data. Collecting this data can prove to be tricky, especially when data privacy laws are getting stricter by the day. The reliability of data along with the sample size may also be a concern in certain cases.
AI software technologies in their nascent stages are seen as being insensitive to ethnic issues and are sometimes affected by amplifying bias. This is especially true for image-recognition systems using machine learning datasets that inadvertently magnify bias. The regulation of AI technology also happens to be a grey area.
AI technology, with its many benefits like enhancing consumer journeys and increasing productivity for businesses, however, can prove to be a gamechanger.
Businesses will get left behind in this fast-evolving digital era if they don’t learn to adapt and implement AI. Continuously developing and expanding technology will continue to reshape businesses and the way that they operate. Webment360 helps Businesses to implement latest and new technologies including AI.