What is AI?
Artificial intelligence (AI) refers to the science that simulates human intelligence in machines, thus enabling them to think and learn as we do. The aim is to allow machines to perceive, reason, judge and make decisions in human-like ways, and nowadays, AI is used across broad spectrums of industries from healthcare to financial services, manufacturing, logistics, insurance, transportation, food tech and even fashion and entertainment.
A well-known example of AI is Siri, who regularly assists us with making phone calls when prompted to access our contacts and dialling the number of the person given.
What is the power of AI?
Although some disadvantages, such as high costs, potential unemployment and lack of emotion have been identified, the pros outweigh the cons, and one cannot escape the fact that AI is the way of the future.
On the plus side of Al, some significant advantages, such as automating repetitive or arduous tasks, saving time and eliminating partiality, have seen the light. According to an article by Geoff Anderson, published on LinkedIn, there are six ways to harness the power of AI for business productivity and profitability, which include:
- Streamlining Business Operations,
- Improving Customer experience,
- Enhancing Decision Making,
- Boosting Sales and Marketing Efforts,
- Enhancing Supply Chain and Inventory Management, and
- Strengthening Cybersecurity.
Read more here: https://www.linkedin.com/pulse/6-ways-harness-power-ai-business-productivity-geoff-anderson/
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