There’s never been a better time to invest in artificial intelligence.
Intelligent machines make more data-driven decisions and operate with greater efficiency than their human counterparts. The technology is still new, which means you can take advantage of 20 years of technological advancement for significantly less cost than it would have been 5 or 10 years ago.
1) Artificial intelligence needs an interpreter. Data sets compiled by machines are unintelligible without the help of a human counterpart – someone who understands the underlying meaning and significance behind each piece of information. It is the human role to use this information to make sense of it and ultimately act on that knowledge to meet your specific goals.
2) AI is a decision-maker, not a decision-maker. Data sets are analyzed and conclusions are drawn, but it’s up to a human counterpart to choose how or if they want their business decisions to be impacted by these conclusions. A human is still making the final call when it comes to making business decisions.
3) Artificial intelligence can only think like a machine. This means that it will only be as good as its ability to process data and make connections between pieces of information – which means that a human must interpret the meaning behind each conclusion and determine if it’s correct or not. If your machine has a faulty understanding or misinterpretation of the information, it will recommend a course of action that is inaccurate. Your business will be less effective as a result.
4) Artificial intelligence is not seen by humans – yet. Humans are gatekeepers to the technologies they create, and artificial intelligence is no different. For artificial intelligence to improve, it must be given access to the right data sets and have those data sets interpreted and decoded by humans before they can form accurate conclusions. Consider this the most important point – this is your responsibility.
5) AI is not a magic bullet. When compared to human intelligence, artificial intelligence will make better decisions over time, but it will never be as good as that of a human counterpart. Just because machines can perform the same tasks over and over again doesn’t mean they’re capable of doing any task equally well. It’s okay to use them, but don’t expect them to perform miracles or come up with solutions on their own.
Of course, we could go on about the benefits of AI for your business, but the point is – we don’t have to. If you’re considering implementing it in your company or if it’s something that you’re already doing, there are plenty of examples out there that prove its power and value. For example:
1) Amazon’s Alexa device is an intelligent computer assistant capable of making millions of decisions while organizing millions more. It has helped Amazon maintain profitability during an otherwise volatile and competitive market. It’s also responsible for $1 billion in “sales” through February and continues to grow exponentially despite a lack of paying customers.
2) In 2012, IBM’s supercomputer Watson won Jeopardy and helped the machine become the best-selling cognitive computing solution on the market. Today, it’s capable of interpreting a wide range of information and giving recommendations that are based on that information. It’s also capable of analyzing your systems and suggesting ways to improve them with higher efficiency and lower risk.
3) Google translate has made translation software more accessible to businesses around the world by providing them with accurate translations through a simple interface. It’s been used by almost every major business in every sector that requires translation to grow their profits in countries all over the world – including China.
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