This is my first official blog post apart from my introduction blog.
Artificial Intelligent or AI can be defined as the simulation of human intelligence with machines like computer and other digital systems. These machines are designed to mimic their actions by thinking as humans.
The principal of artificial intelligence is in a way that a human intelligence can be summarized in such a way that a machine would be able to grasp easily and execute tasks ranging from simplest to most complex one. With rising technological advancements, the earlier defined benchmarks became outdated.
AI has shown continuous emerge and being adopted in several industries owing to significant advantages associated with it. All the machines are wired through a cross disciplinary approach on the basis of psychology, mathematics, linguistics, and computer science.
In this post we would cover following topics:
- History of AI
- Artificial Intelligence Companies
- Applications and Usage of AI
- AI in Retail
- AI in Hospitality
- AI in Manufacturing
- Ai in Sports Betting
- AI in Logistics & Supply Chain
- AI in Cybersecurity
- Ai in Healthcare
- AI in Human Resource Management
- AI in E-commerce
History of AI
Before jumping to the usage and advantages of artificial intelligence let’s discuss a brief history of AI.
In 1949, Donald Hebb introduced an update intended to strengthen the connection between neurons. His rule was termed as Hebbian learning.
Later in 1950, Machine Learning concept was unveiled by an English mathematician Alan Turning. He published a research paper named Computer Machinery and Intelligence. In this paper Alan proposed a test which was able to verify the machine’s capability to match the human intelligence. The test was called as Turing Test.
In 1955 Herbert A. Simon and Allen Newell developed the first AI program named Logic Theorist. The program found more effective proofs for various mathematical theorems. Also, it proved 38 of 52 formulae. Furthermore, the word artificial Intelligence was first adopted by John McCarthy, an America computer scientist. The announcement was made at Dartmouth Conference in 1956.
Moreover, at that time different high-level languages were invented such as COBOL, LISP, and FORTRAN which gave a boost to the adoption of AI.
The researchers were focused on developing new algorithms to solve critical mathematical problems. In 1966, Joseph Weizenbaum developed ELIZA, the very first chatbot. In 1972, the firstly intelligent humanoid robot WABOT-1 was created. While, during 1974 to 1980 the public interest in AI was decreased and the AI researchers were running short of funding. Hence, the period is considered as the first AI winter.
One the AI winter period was over, in 1980, the AI technology came back with Expert System which was designed to emulate the decision-making abilities of humans. Further, the second AI winter is considered between 1987 to 1993. Owing to high cost associated with the technology, the public and private figures stopped investing in AI research.
In 1997, AI enabled machine IBM Deep Blue beat the chess champion Gary Kasparov. In 2002, the first AI enabled vacuum cleaner Roomba was introduced. By the end of 2006, the major companies including Netflix, Twitter, and Facebook adapted AI technology significantly.
Artificial Intelligence Companies
Some of the companies specialized in artificial intelligence include
- Intel Corporation
- IBM Watson Health
- NVIDIA Corporation
- Google LLC
- Zebra Medical Vision, Inc.
- Sensely, Inc.
- Iris.ai AS.
- HyperVerge, Inc.
- Enlitic, Inc.
- Cyrcadia Health
- Clarifai, Inc
- Ayasdi AI LLC
- Atomwise, Inc.
- Arm Limited
- Advanced Micro Devices
Applications of Artificial Intelligence
AI has changed the business landscape significantly by automating the processes. Today, artificial intelligence is just not a concept or theory, it is practically being implemented in businesses around the globe. The organizations are adapting AI technology for optimizing their processes which will eventually impact their profit and revenue in a positive manner. Some of the major but not limited to applications of artificial intelligence are as follows:
AI in Retail
Online shopping creates a huge volume of data regarding preferred channels, spending habits, and preferences of individual customers. Integrating these platforms with AI helps in smoothing the shopping journey of a large number of customers. Also, it helps in creating customized display adds as per the individual preferences. Moreover, the bots handle the accounting section very efficiently by eliminating the human error.
AI in Hospitality
Ai registered major adoption from hotels, casinos, and resorts. The technology helps them in categorizing customers based on their preferences which they may not realize were there. For instance, which once are habituate of reading newspaper before starting their day, and which one are fond of pools. This helps the hotels to improve their customer service and provides them with best services.
AI in Manufacturing
AI helps in streamlining the complex manufacturing processes which improves the operational efficiency and productivity. Also, implementation of machine learning help in minimizing downtime and predict failure which help in reducing non-productive hours.
AI in Sports Betting
The betters get a greater analysis of sports events related to players, trainers, and coaches which helps them in making decisions. AI analyzes a huge volume of data which is not possible with human traders. With the help of these analytical databases the individuals are able to predict the future outcome more efficiently.
AI in Logistics & Supply Chain
Physical AI improves the customer experience by combining the customer data and analytics. The technology empowers the businesses to improve the outcomes in many areas of supply chain operations. Also, rising inclination towards urbanization is promoting the AI adoption among consumers.
AI in Cybersecurity
The technology is making strides in the field of cyber security. Although, AI is still in its initial phase in cyber security and not able to completely resolve all the complications. It is very effective with data protection by detecting anomalous user behavior or vulnerabilities in this sector.
AI in Healthcare
AI has proven a big impact on the healthcare industry. The major manufacturers of medical equipment and devices are increasingly utilizing the technology. AI helps in improving consistency, reliability, and predictability while maintaining the quality which helps the healthcare professionals to better treat their patients.
AI in Human Resource Management
The organizations have started automating their recruitment and payroll processes by using artificial intelligence. The automation in HR operations resulted in minimized data entry work, time consuming paperwork, and mundane screening which improves the efficiency and productivity of HR professionals.
AI in E-commerce
AI has major applications in eCommerce sector. The technology is becoming readily available to SMEs and large organizations and provides a competitive edge. AI technology enables automatic tags and labeling which helps in discovering products despite of brand, shape, size, or color.
The technology has shown significant adoption in every sector since its inception and anticipated to witness phenomenal growth in forthcoming years. What are your insights regarding the same? Kindly let us know in comments 😊