AI For Business: Three Ways Artificial Intelligence Will Change Your Industry Forever
07/16/2018 | Denver, CO
Artificial Intelligence. What began as an futuristic concept in 1954, is now part of our daily lexicon. In fact today, the field of artificial intelligence (AI) is moving so quickly that even experts are having trouble keeping up with developments.
Of course, it’s 2018 and we’re still not a mass of Six-Million Dollar Men. But, make no mistake, artificial intelligence is developing rapidly and assisting humans in nearly every aspect of life. AI is streamlining processes and executing functions in fractions of the time it would take normal computers, let alone human beings (Steve Austin, notwithstanding).
Ok, so let’s take a closer look at just how much AI for business is changing things up.
A digital twin is an artificial replication of a physical system. They are used to test possible outcomes and analyze the efficiency of different processes. Industrial systems are being analyzed and streamlined because their operations can be played out hypothetically via their digital twin.
While the primary use of digital twins has been in automation and industrial systems, their operation has expanded to nonphysical systems. Customer behavior, for example, is a process that is now being understood through the representations provided by the digital twin.
The real gift of digital twins is that their processes are easily adjustable. This allows artificial replications to change as their physical representations change. The ability to grow and change comes from a conflux of AI, analytics, and machine learning. Primary applications to date include aircraft machinery, turbine engines, offshore drilling, train equipment, and building structures.
Google Assistant and Similar Technology
Leave it to the folks at Google to take AI up a notch with their new AI collection addition released in May. It is a virtual assistant that schedules appointments and deals with menial tasks for you. What stands out? It speaks and sounds like a human. (Sorry Siri.)
With the Google Assistant, you say that you want to schedule a haircut (or any other appointment), and the AI makes a phone call for you to schedule an appointment. It speaks and listens like a normal human being. Not impressed yet? Well trust us when we say that it would be very difficult for anyone to tell that they were not speaking with a real person. You’ve been warned!
Deep learning is the action of an artificial intelligence learning in ways like humans. By this, we mean that they are learning through algorithms that work similarly to the neural networks of the human brain. So as AI learns, its capacity to learn will expand. And the more you feed it, the “smarter” it gets in terms of what it can predict. The performance and intelligence of the machines will grow at the same rate, making this an almost limitless function. Some AI experts say that it’s an evolution of the wisdom of the crowds; only instead of having to sift through the potential options, it simply surfaces what you are most likely to enjoy.
ThinkTank’s Digital Client Engagement system for example, operates in a similar fashion. It preserves nearly every interaction, every idea and every requirement in a re-usable – and highly proprietary way. So, it gets smarter. Your job is easier. And your clients are happier.