• Posted On: December 09, 2020
• Posted By: AXSAI Team

Artificial Intelligence: Potential, Benefits & Future

Cognitive technologies are empowering businesses like never before. Indeed, it has the ability to solve complex problems. One of the most accepted and highly regarded technology is Artificial intelligence. It is an ideal tool for businesses, which helps them to achieve their objectives in a seamless manner. What is artificial intelligence? According to a magazine, AI is successfully transforming businesses and accelerating its overall operations, while reducing bottlenecks.

Approach of AI

Its approach is simplified and designed to assist businesses of all shapes and sizes. “Data is the fuel that drives the AI engine.” Brookings. Besides all these, it helps in business automation, obtaining critical business insights, improving decision making and empowering global organizations.

Indeed, it has the ability to transform a wide range of sectors, such as finance, security, health care, education, manufacturing, transportation, etc. “The increasing penetration of AI into many aspects of life is altering decision making within organizations and improving efficiency.” – Brookings. Did you know? Artificial intelligence was founded as an academic discipline in 1955.

“Automation cuts costs and brings new levels of consistency, speed and scalability to business processes.” – Accenture. According to researchers, AI help people anticipate problems or deal with issues as they come up.

There are many distinctive benefits of AI, such as –

1. Data accessibility and governance
2. Decision making
3. Research and technology  
4. Helps to process real-time data
5. Helps to understand machine learning and data analytics
6. Assists in fraud detection
7. Improves collaboration and helps in climate science
8. Understanding consumer behavior
9. Helps to understand and solve deep medical issues
10. Helps to improve surveillance system

Future

According to a report, AI: Built to Scale, 84 percent of business executives believe they need to use AI to achieve their growth objectives. – Accenture. Today, more and more businesses are focusing on designing, building and deploying AI in order stay ahead of the curve. They are harnessing its capabilities in order to improve their overall operations and move towards excellence.  Indeed, the future of AI is bright, promising and can assist a broader spectrum of the society. Hence, we can conclude that Artificial intelligence (AI) has the potential and power to transform our world in a dramatic fashion. This is just the beginning…