ARTIFICIAL INTELLIGENCE

AI refers to machine intelligence or the ability of a machine to perform the decision making
functions like a human being. It has the ability to learn and solve problems. In computer
science, these machines are aptly called "smart agents" or bots. It is generally confused with
robots, especially humans Robots, because they are closer to "human" intelligence.

Of course, robotics is an important branch of AI. In retail business such as Walmart and
Amazon, Robots play significant role in their business by managing their supply chain
management and logistics. Labour-intensive production also adapts to automatic support. In
near future the entire labour force can be replaced by these robots. Where the entire factory
can be handled by mere 2-3 employees with the help of these robots.

However, apart from robot-based functions, AI usually plays a crucial role in decision-
making effective in financial management. As an example, the use of expert systems by
hedge funds managers are increasing to reduce mistakes in investment decisions. Several
stock traders have started use of neural networks to forecast stock performance by analyzing
historical data. AI Systems even use news, press releases and social media content. AI can
analyse these contents and predict potential changes and to help investors bid accordingly.

Also, global health researchers are paying attention to the use of artificial intelligence to save
lives. Indiana University researchers developed a simulation model to analyze patient data
and has Recommended treatment plans, with 50% more effectiveness that too at 50% cost.
So artificial intelligence has the ability to improve decision-making in all industries and
achieve cost savings also.

Advances in computer technology have brought AI closer to business. AI has taken over
different areas of the business worldwide to reduce errors and increase efficiency. It has
become omnipresent, it is present all around us right from our mobile sets to cars around us.

Our daily encounters with artificial intelligence are mobile keyboards or word processors
AutoCorrect function. In a simplified form, auto correction is actually an artificial
intelligence function It traces patterns, understands trends, learns from past mistakes and
predicts what we meant.
Currently, we experience three recognized levels in the AI.

1. Assisted intelligence:
It refers to the automation of basic tasks such as machines in assembly lines. It is
considered
as very basic form of AI because it requires a constant human input. This is the least
appropriate Making decisions. It is most commonly used in transportation and health
care.

Transportation and Safety:

Assisted intelligence is already used in steering wheel safety systems to control speed
and speed activating brakes. With the Internet of Things, it helps you with planning,
maintenance and care decide to replace the parts according to use and point the user
out. But the final decision usually belongs to the user, not to the vehicle.

Health Care:
The AI can properly monitor a patient around the clock and notify the doctors
throughout the infirmary if in fractions of a second something changes, which is not
possible with nurses. The final decision, however, belongs to well-instructed
physicians.

2. Augmented intelligence:
This form of artificial intelligence includes "giving and taking", that is, learning from
human input. So it takes more precise decisions based on information and learnings
from past. Augmented intelligence is the most common AI form in use. Unlike
assisted intelligence, it can offer new solutions by combining existing information.

E-commerce:
An example of augmented intelligence in e-commerce is a marketing automation tool
that makes A / B tests 100 times faster. It also adopts the layout and response
functions of a website, depending on the user who can make decisions. Also it can
suggest the user other shopping items as well by using its previous purchase history.
 Cyber Crime Fight:
Augmented intelligence systems, well trained, will differentiate a system
attack, a customer accessing an account in a foreign country and a software bug.

3. Autonomous intelligence:
This form of AI does not include humans in the loop. Autonomous cars and
autonomous robots are the examples of autonomous intelligence. This is the ultimate
goal and the most feared state of the artificial intelligence. Organizations like Google,
Facebook, Amazon, web channels, etc have given enough decision-making
algorithms to reach their full potential.

Business Management:
It is said that decision making and creative jobs are hard to replace with automated
systems. Indeed, it is difficult because it is very difficult to define what constitutes the
best result in view of the all the variables. Another difficulty is to accept and
implement the decisions taken by the algorithm. However, McKinsey and BCG have
already started using automated pilots for the entire departments.

Self-Driving Car:
The self-driving cars are yet in their developing phase. Various models are already
implemented and successfully tested as well but yet it is not entirely operational. It is
still in the developing phase and steadily its learning techniques will bridge the gaps.