Jonathan Kaftzan explores what is Artificial Intelligence? Who does it affect? What does it promise? How can an organisation profit from AI, whilst at the same time delivering benefits to its customers? How does it fit into a company’s digital transformation plans, and how can you make the technology and approaches work for your business?
The predictions for AI use cases have been prolific and wide-ranging in recent years. From humanoid robots to predictive analytics for legal institutions, hedge funds , and more, there has rarely been more excitement generated by a technology than the current buzz emanating from AI software .
Application of this technology extends to mobile and telecommunications too. Here, it has become an important next step in helping operators’ transition from Communications Service Providers into more advanced Digital Service Providers that can predict their customers wants and needs.
AI is empowering service providers with a range of new capabilities such as deep learning, natural language processing, and cognitive computing to create a digital interface that will essentially deal directly with human beings, addressing and resolving customer service issues. Sound like science fiction , but it’s the new reality. AI is a huge catalyst for change, not just in telecoms , but almost every walk of life.
So, what exactly is artificial Intelligence? Is it about creating robots powered by super computers, which outperform their human counterparts ? Or is it grounded in less futuristic, albeit still important, applications and in more sedate data crunching and algorithms than walking-and-talking machines? It’s all of the above and more.
AI comes of age
AI can be about simulating human intelligence , incorporating traits such as reasoning, perception, problem solving and forward planning. At its crux, though, AI is about the development and enactment of methods of transforming vast amounts of complex, often unstructured data into intelligent insights .
The key elements of artificial intelligence – Machine Learning, cognitive computing, natural language processing, and sentiment analysis, combined with more effective real-time data management – make this possible.
For example, rather than the time consuming and, due to human error , often inaccurate process of manually sifting through data and drawing conclusions, AI can rapidly automate processes.
It can establish rules and use algorithms to deliver accurate analytics and predictions. Importantly, this may also reveal ‘hidden’ insights in data that would have been missed if the process were to be conducted by a human.
In turn, for service providers across all industries, this makes it possible to take much more informed actions as a result of predicting what customers will need and when, making timely, relevant, and attractive offers to drive sales and further engagement.
Findings from data can be utilised to improve services , develop new tools and technologies, and drive production or business efficiencies, in addition to wide-ranging benefits we are yet to realise. Although the terms are often used interchangeably – or confused – this more specific application of AI can be more closely defined as ‘ machine learning .’
The potential challenges ahead
Much has been made of the opportunities AI can deliver to businesses and consumers, but the technology has attracted some negative publicity, particularly in relation to the potential impact of AI and robotics on the job market .
However, as with other technological and industrial revolutions which have come before it, the disappearance of jobs in some sectors coupled with the introduction of new technologies will likely spur the creation of new (human) roles in other areas of business.
