In the midst of the recent Covid-19 pandemic and the changes in the global business environment that followed, executives have faced many disruptive forces, including changing attitudes and expectations among their customers, tougher global competition, and redundancy or erosion of existing business models.
It’s hard to think of a more buzzed about — or hotly competitive — technology over the last few years than artificial intelligence. As more companies push for new ways to implement deep learning and data science to reap the benefits of automation, it’s clear that an AI revolution isn’t coming: It’s already here.
If your company or organization has been waiting for practical, viable ways to implement AI in your business, there’s arguably never been a better time than now. Here’s how companies in three industries are using AI to make a tangible difference in their businesses.
Even though the AI acronym is on the lips of every data scientist, IT manager and developer hungry for new technologies, the term has its origins around the middle of the last century. After the first reference to AI in the late 1950’s, a couple of years passed before people could grasp what it was really about, and got a taste of what it was.
In the late seventies, we became aware of the notion of artificial intelligence through the well-known Star Wars, Terminator, Robocop, Alien and Blade Runner movies. Above and beyond the blend of science fiction and action, these movies depict visionary scenarios involving AI and its various components. This era coincides with the decreasing cost of AI computing, and its increasing accessibility.
In just a few years, it will be practically impossible to find a single industry left unaffected by the meteoric rise of Artificial Intelligence.
This disruptive blend of computer science, statistical models, and reasoning with big data is propelling the Fourth Industrial Revolution forward and changing core industries like agriculture, energy and healthcare while also hinting at solutions to a range of modern challenges.
But how is the world of retail using AI to transform the in-store environment to offer superior experiences and achieve higher revenues?
Alphabet’s DeepMind unit, conqueror of Go and other games, is losing lots of money. Continued deficits could imperil investments in AI.