Over the course of recent years, as an increasing number of businesses and enterprises ride the wave of digitization- the inclusion of more modern technologies such as artificial intelligence, machine learning, and cloud computing is slowly, but surely, starting to break into the mainstream.
With that being said, the possibility of businesses being directly influenced by AI, will no longer just be a possibility. In a world as digitized and as reliant on technology as ours, it is only a matter of time, when the inclusion of AI within enterprises becomes a staple aspect of effectively doing business in the modern-day and age.
Despite the monumental amount of articles, and books being written on the topic of AI and ML, business leaders all around the world, are still plagued by a certain doubt and uncertainty, as far as their understanding of AI is concerned. Fortunately, however, we’ve compiled an article with the aim of clearing up any misconceptions that business leaders might be harboring, along with clearly defining the role that AI plays in an enterprise and the direct influence that it bears on an organization’s business function.
If you’ve been even slightly acquainted with the relationship between artificial intelligence, and the role that it plays in present-day businesses, you might just know how deep-rooted the influence of AI goes, particularly when we take into account the prosaic task of running a business in the, amidst the current economic landscape.
Having said that, however, if you’ve read the most popular articles in artificial intelligence, the situation is described in those articles that differ greatly from the role that AI has in business today. As journalists and cybersecurity writers grapple with the impact that AI will have on the ‘fabric’ of our society and focuses on the larger picture of AI implementation, rather than the impact that AI has on business only.
As we’ve already mentioned above, since business is far more prosaic, and requires more practicality than making predictions about the potential role that AI could play in the future society- the aspects of a business that usually stand out the most in AI context include revenue, costs, customers and completion. Moreover, while formulating a plan to aid the inclusion of AI within an enterprise, it is equally significant that business leaders take into account the larger picture as well, and think about any potential problems that may arise.
With that out of the way, it is also worth mentioning that in order to reap the maximum benefits from the amalgamation of AI within a business, the implications and definitions of the word “AI” should be made clear, so as to manage the expectations that an organization might have with the inclusion. Contrary to the thousands of definitions that we see on numerous articles on the subject of AI implementation, actually pinning down an exact definition of the term, specifically within a business context, isn’t as straightforward as we’d like to believe.
Usually, when it comes to the tedious task of formulating a single definition for artificial intelligence, the variety of audiences to which the AI tech caters creates monumental confusion, and complicates the task even further. Owing to the wide variety of uses that the AI tech can be implemented within, there are several definitions for AI- some of which are rooted in computer science, others reflective of the history of AI, while some definitions go as far as to account for the philosophies and ethical values that come into play within AI. Having said that, however, the wide-ranging definitions of artificial intelligence also entails a couple of definitions that are quite frankly, pretty useless.
While some cybersecurity specialists might argue that the AI tech fundamentally machines demonstrating human intelligence; within the business context, however, AI can easily be defined as the computer-centric systems that perform, enhance, or transform business activities by simulating human behavior, in order to achieve the primary goal of improving the business’s efficiency, with an acute focus on the actions and outputs that increase business value.
To some of our more cynical readers, the definition that we’ve provided of AI within might seem a bit lackluster. After all, isn’t using a computer-based system to enhance the efficiency within an organization the primary goal of AI? Although at one level this may appear to be a pretty straightforward view of artificial intelligence, the goal that AI seeks to fulfill within this definition is to mimic human intelligence, not replicate it. In a way, in order to obtain the goal of increasing a business’s efficiency, it is also important that how the simulation is achieved becomes more important than what the simulation enables, which is exactly what the modern business needs in today’s modern landscape.
Once business leaders have laid out a clear cut definition of what the definition of AI implies within the context of their specific business, in order to achieve their main goal of increasing efficiency within a business, they need to take the definition a step further and have a keen appreciation of the underlying concepts of artificial intelligence. Moreover, it would only add to the advantages of AI offered to a business and would help further propagate efficiency within a business.
One of the most significant concepts behind AI that proves to be of the most useful to a business is the fact that the power of AI can be harnessed to utilize thousands of the most powerful computers to process a monumental amount of data in the shortest possible time. Secondly, AI tools also detect cyber threats and risks and help in preventing major attacks. The AI-based systems work in the same way as different antivirus software. If you’re looking for some reliable antivirus software then click here.
Within a business setting, the implications that an artificial intelligence model has is simple- in order to make the most out of the AI inclusion within businesses, enterprises need to obtain and manage a huge amount of data, which in turn, is used to generate valuable insights for the AI algorithm to generate.
With that being said, however, businesses also need to realize that in order to generate the aforementioned valuable insights, they might need to access skills that they haven’t used before, so allotting a certain budget to the further development of AI is always a good idea to implement.
Last, but certainly not least, the process of acquainting one’s self with a technology that has only gathered momentum over the course of recent years, makes it quite understandable to believe why some business leaders might be so confused about AI inclusion. On that note, however, we’ve compiled some tips that’ll surely enable business leaders to grow accustomed to leveraging AI for their business gains.
- For the effective implementation of AI within organizations, business leaders need to understand that a huge amount of data needs to be fed into the AI algorithm.
- In order for an AI model to generate valuable insights, organizations might need to tap into skills that they hadn’t previously used, along with having to use increased computing power.
- A business should also focus on expanding the ways through which it harnesses AI’s power since the greater ways through which an organization can leverage AI increases the number of opportunities to make money.
- It should be realized by all business leaders that the process of effective AI implementation in an organization is a collaborative effort within an organization, and requires each employee to fulfill their designated role.
- As a business sets out to amalgamate AI within its organization’s framework, the ethical dilemmas, along with the governmental regulations imposed on AI use should also be taken into account and respected.
At the end of this article, we can only hope that we’ve highlighted to our readers the potential that AI has within a business setting. With that out of the way, we can only hope that the business leaders of today use AI in such a way, so as to broaden the economic horizon for the many more business leaders to come in the future.
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