5 types of artificial intelligence that bring value to business

1. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Open in app Kalyani Tangadpally About 5 Types of Artificial Intelligence That Bring Value to Business Kalyani Tangadpally Just now · 6 min read Artificial intelligence can be used to solve problems as a whole. AI helps businesses increase sales, detect fraud, improve customer experience, automate work processes, and provide attendance analysis. Industries such as healthcare, automotive, financial services, and logistics have many benefits from implementing AI. Artificial intelligence can help health service organizations with better tools for early diagnosis. Autonomous cars are a direct result of the rise of AI. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 1/10

2. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Image Source: datamation Financial services can leverage AI-based process automation and fraud detection. Logistics companies can use AI for better inventory management and delivery. Retail businesses can map consumer behavior using AI. Utilities can use smart meters and smart grids to reduce energy consumption. The growth of chatbots and virtual assistants is also the result of artificial intelligence. Alexa Amazon, Google Home, Apple Series, and Cortana Microsoft all use AI-based algorithms to improve their lives. This technology plays a more prominent role in determining the behavior of future users. Most of your future transactions are done with the help of AI-based chatbots or virtual assistants. The company has realized the potential of AI Implementing machine learning and AI will have a huge impact on the efficiency of your organization. Smart systems can automate a large amount of your work and help reduce the risk of human error. Over time, your system will learn and become smarter. It gives good results. HOW ARE BUSINESSES USING ARTIFICIAL INTELLIGENCE(AI)? Many businesses are beginning to realize the benefits and competitive advantages that can be gained by using AI. There is a growing interest in every industry about exploring opportunities. Companies are already using artificial intelligence to make practical decisions. For example, Coca-Cola produces Cherry Sprite based on their AI product analysis. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 2/10

3. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Furthermore, the soft drinks company plans to create its own virtual assistant to put into its vending machines. Also Read: Artificial Intelligence for Retail Industry Future Of Robotics Implement AI in your organization With so many conversations about AI, there is a fear of losing. Remember that this is just the beginning of the AI revolution. Image Source: mc.ai According to the 2018 CIO Gartner survey (registration required), only 4% of companies surveyed have invested and implemented AI-based solutions. The rest of the company is in various stages of planning. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 3/10

4. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium So if you do not already have an AI-based solution, do not worry. It is important to start looking at possible tools for your business. Here are some strategies: Identify your business needs Take a good look at your business and determine what strategic emphasis points you can get away with using AI-based solutions. AI can provide a presence analysis for your business. This helps you automate tasks. Through testing, you can determine the right goals for your business. Understand the dangers Any new technology has risks, but the only way to learn technology is to use it and learn from your mistakes. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 4/10

5. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium You can take the initiative with a small scope and evaluate each failure critically. This gives you data to understand your risk factors and make better decisions in the future. Find valuable AI services To implement AI solutions in the real world, you need an AI developer. Due to the rapidly growing AI market, developers have very little resources. Furthermore, to train and implement AI applications, developers need access to scalable and affordable computing infrastructure that supports the required AI processing. They also need raw and expert data for data labeling, model output verification, and more. Building this AI infrastructure is time-consuming and expensive. Most companies may not use 100 data collectors at home and may not have the infrastructure to support them, but there are services available that make AI application development accessible and business-friendly. Therefore, you do not have to build infrastructure and human capital from scratch. You can use this service to track your AI efforts faster. Build the right background To win any technical battle, you need the right people and the right culture. It takes time to hire employees. It takes time to build a good culture. You need to invest resources to increase your chances. While investing in new technology and new talent is expensive, it is well worth it. It can change your business. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 5/10

6. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Types of Artificial Intelligence(AI) Image Source: educba Type-1 Analytic AI- sentiment Analysis, supplier risk Assessment With machine learning (including its most advanced in-depth learning methods), analytical AI can finally scan tons of data for dependencies and patterns to generate recommendations or provide business with insights, thereby contributing to data-driven decision making. Some examples of analytical AI in sentiment analysis and supplier risk assessment action. If you want to get a complete picture of how such a solution works, our experts have summarized it with two usage cases derived from their experience — inventory optimization and demand assessment. Type-2 Functional AI- IOT soulutions, robots Functional AI is very similar to analytical AI — it scans large amounts of data and finds patterns and dependencies within it. However, instead of making a backup, AI Functional acts. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 6/10

7. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Image Source: independent.co.uk For example, being part of an IoT cloud, it can detect the pattern of machine malfunction in sensor data received from a particular machine and trigger a command to turn off this machine. Another example: a robot used by Amazon to carry shelves with objects to the picker, thus speeding up the retrieval process. Type-3 Interactive AI- chatbots, Smart personal Assistants Interactive AI is based on the four pillars of NLP, enabling reading, classification, response comprehension, and a combination of regulatory-based approaches. https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 7/10

8. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Traditional machine learning and in-depth learning accessible from the millions of business conversations combined into NLP ensemble learning. This offers a variety of resources to address different types of queries and provide effective responses. Image Source: alamy NLP transforms raw data from customer relationship management (CRM) systems into natural language inputs and to produce outputs in the form of responses. Type-4 Text AI-Text Recognition, Speech to text Conversion AI text is one that is often used in business. The emphasis of AI Text is to strengthen the internal corporate knowledge base with content generation capabilities. Businesses in various sectors use Text AI to use text recognition, speech-to-text conversion, and machine translation to provide excellent service. With AI-powered solutions, natural language search and processing can be integrated into seamless processes. Type-5 Visual AI-Computer Vision Augmented Reality https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 8/10

9. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Image Source: samsungsds Visual AI allows users to use images in addition to a large number of other types of features in your data set that you want. These include feature types such as numbers, categories, dates, and text. This allows for innovation in new ways, through the use of different types of data that provide a broader data perspective for your AI model. Visual AI instantly opens classifications based on pictures and regression usage cases, and allows you to use numerical features, categories, dates and text in addition to pictures in the same model. Visual AI provides a new perspective for existing models and allows for a completely new type of model. Know more https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 9/10

10. 10/30/2020 5 Types of Artificial Intelligence That Bring Value to Business | by Kalyani Tangadpally | Oct, 2020 | Medium Artificial Intelligence Analytic Ai Visual Ai Text Ai Interactive Ai About Help Legal Get the Medium app https://fugenx.medium.com/5-types-of-artificial-intelligence-that-bring-value-to-business-1577629d41ec 10/10