Discussions around Artificial Intelligence (AI) have proliferated and will continue to over the next year. Businesses are beginning to see its value in a wide range of sectors, while a different report is released every day that instils a fear that AI will replace workers’ jobs. Simply put there is no hiding the explosion of AI and its applications; in the UK, Durham police have begun trialling a system that will classify suspects as low, medium or high risk and help officers review their sentence.
As AI, automation and machine learning push the boundaries in almost every single industry, businesses will have to embrace the technology and understand that it is a force for good. This article will explore the perception around AI, the practical uses of the technology and the overall objective that businesses should be preparing for.
While it’s true that AI will change how businesses operate, Business leaders should consider it with optimism and positivity. PwC conducted a study and found that AI would help global GDP gain a huge $15.7 trillion, a 14% rise from 2016 to 2030. The detailed analysis found that the Business impact of AI was so vast that productivity would improve dramatically. 2030 might seem like a long time away but in the business world preparation is key to everything.
As Artificial Intelligence becomes more and more integral to daily work processes, the benefits will become much clearer. Automating simple tasks frees up the workforce to focus on more intricate and exciting aspects of their role. Take for example, innovative law firm Berwin Leighton Paisner. The UK based company developed an entirely different business model that relies on an AI system to work on certain property disputes.
The system extracts the raw data and checks the basic details needed to serve legal notices to the corresponding property. The cost savings are clear, but the sheer difference in time is quite substantial – a task that would usually take workers weeks now can be done in minutes! And this using a simple process automation approach to AI; future systems will do much more comprehensive tasks.
As businesses of all kinds look to invest in AI, the field itself will rapidly evolve, making it almost impossible to keep up with ongoing developments. Leaders should instead focus on their business and look to analyse how artificial intelligence could benefit their organisation.
The application of Artificial Intelligence is quite broad and its technology is positively developing, possibly quicker than businesses would have predicted. From the sorting of information, to automated machines in the manufacturing process, the capabilities are clearly broad enough that businesses are wasting no time to invest.
Our own recent AI engine, Zinrai, has been used by Japanese company Kawasaki Geological Engineering to accurately detect and prevent underground sinkholes before they manifest. The technology uses deep learning technology to analyse and process the volume of radar images collected with underground radar probe equipment.
Businesses and governments could benefit from increased operating efficiency, spot cavities in the road before they manifest and be able to ultimately prevent sinkholes. Another fantastic example is a conversational tool that can be used to analyse the sentiment of customer calls, therefore enabling the host to tailor each conversation to the customer.
What’s clear is that AI is developing at a significant rate.
