What is Artificial Intelligence?
What is Artificial Intelligence? | Article
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Official description — What is Artificial Intelligence?
AI can be defined as a computer system capable of performing a task that requires intelligence. This task is usually something that a human can accomplish, such as learning, planning, problem-solving, perception, and understanding human communication in any language.
A simple example — A virtual assistant like Siri is an example of an AI that will access your contacts, identify the word “Mom”, and call the number. These assistants use NLP, ML, statistical analysis, and algorithmic execution to decide what you are asking for and try to get it for you. Voice and image search work in much the same way
True artificial intelligence is autonomous — it does not require human maintenance and works for you silently in the background. AI is as much a part of the fabric of a system as the other tools and technologies (features, dashboards, campaign blueprints, etc.) inside of the platform.
Advantages and Disadvantages of Artificial Intelligence
Reduction of Human Error | Takes risks instead of humans | Available 24/7 | Helping in repetitive jobs | Digital assistance | Faster decisions | Daily applications | New inventions
Worldwide Spending on Artificial Intelligence is expected to double in four years.
IDC forecasted that companies would spend almost $342 billion on AI solutions in 2021. From 2023 onwards, AI services are forecasted to become the fastest-growing category. AI Applications have the lion’s share, accounting for nearly 50% of revenues within the AI software category.
Over the next several years, spending on AI systems will accelerate as organisations deploy artificial intelligence as part of their digital transformation efforts and remain competitive in the digital economy. As a result, the compound annual growth rate (CAGR) for the 2019-2024 period will be 20.1%.
“Companies will adopt AI — not just because they can, because they must,” said Ritu Jyoti, program vice president, Artificial Intelligence at IDC. “AI technology will help businesses be agile, innovate, and scale. The companies that become ‘AI-powered’ will have the ability to synthesise information (using AI to convert data into information and then into knowledge), the capacity to learn (using AI to understand relationships between knowledge and apply the learning to business problems), and the capability to deliver insights at scale (using AI to support decisions and automation).”
Two of the leading drivers for AI adoption are delivering a better customer experience and helping employees improve their jobs. This is reflected in AI’s supreme use cases, including automated customer service agents, sales process recommendation and automation, automated threat intelligence and prevention, and IT automation. These four use cases will represent nearly a third of all AI spending this year. The fastest-growing use cases are automated human resources, IT automation, and pharmaceutical research and discovery.
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The Blog Post, originally penned in English, underwent a magical metamorphosis into Arabic, Chinese, Danish, Dutch, Finnish, French, German, Hindi, Hungarian, Italian, Japanese, Polish, Portuguese, Spanish, Swedish, and Turkish language. If any subtle content lost its sparkle, let’s summon back the original English spark.
