What is Enterprise AI?
Artificial intelligence (AI) is the field of technology that enables machines to automatically perform tasks that would otherwise require human intelligence. AI can also encompass deep learning, which is capable of making connections and reaching meaning without relying on predefined algorithms, but instead learns from experience and uses raw data as its inputs. Other technologies under the AI umbrella include machine learning, robotics, computer vision, cognitive computing, artificial general intelligence, location intelligence, reinforcement learning, geographic information systems (GIS), natural language processing, and knowledge reasoning. AI applications can be used in a myriad of field to help businesses to automate business processes, gain insights through data analysis, and to engage with customers and employees. The following are examples of AI applications in business:
Banking and finance. Many banks use applications of AI to detect fraud. When the AI software is given a very large sample of data including a combination of fraudulent and non-fraudulent transactions, it can be trained to determine whether a transaction is valid based on data and can detect fraud with increasing accuracy based on what it has learned previously.
Retail. Many ‘chat’ features on websites are often begun with AI chat bots that are capable of understanding natural language, allowing them to assist customers in finding what they need to know, extracting information from the website, or to direct the customer to the appropriate web page or live person to answer their questions.
Cybersecurity. Data is under constant threat from cyberattackers. AI solutions for cybersecurity include features such as real-time threat detection and behavior monitoring which uses machine learning algorithms to learn how to detect unusual and suspicious activities so that those issues can be swiftly addressed.
Human resources. AI and natural language processing (NLP) can be used to filter through resumes and identify job candidates with attributes that most closely match their requirements such as location, skills, and education. AI can also match candidates with other positions.
Billing. AI software for billing and invoicing uses features such as data extraction and segregation which can extract data from paper invoices, improving accuracy and efficiency.
Predictions. Recommender systems use reinforcement learning algorithms. Reinforcement learning is an AI technology that can learn strategies to optimally control large and complex systems such as manufacturing plants, traffic controls systems, financial portfolios, and robots, by using pattern recognition to make predictions. These predictions can be used for quality assurance, forecasting, predicting customer behavior, and limitless other outcomes.
IT operations. AI is commonly used for IT system log file error analysis, IT systems management, and the automation of many routine processes.