AI is shaping what’s possible in business

Artificial intelligence (AI) makes it possible for machines to learn and adapt their behaviour as they gain experience. The code that powers AI gets smarter and smarter as it’s exposed to more data and scenarios. As computers have developed more processing power, AI has become useful in lots of different ways. We believe every business will be using some form of AI in the years ahead.

AI is already being applied in many different industries to carry out a range of specific tasks; with more and more use cases expected to emerge over the coming years as the technology gets more sophisticated. AI is embraced by businesses because it can make their products and processes much smarter. 

It can also save lots of time and remove the need for employees to do repetitive, manual tasks. Using AI can optimize existing business processes and result in a significant boost in how your business performs.

A key feature of many AI applications is the ability to process huge amounts of data very quickly. This can give you real-time insights into opportunities and challenges as they occur. 

Plus, the information can help you plan with more clarity. 

While many types of businesses are using AI to improve a wide range of processes in a variety of different settings, banking, retail, and healthcare offer good examples of how AI can be used.

Many online retailers use AI to offer personalized shopping recommendations. These recommendation algorithms analyse data on previous clicks and purchases. The more recommendations are tailored to your personal tastes… the more you end up buying. 

With a huge number of transactions flowing through the global financial system each day, banks are increasingly relying on machine learning and AI to automatically detect fraud. 

Working in real-time, AI helps banks to block dodgy transactions before they happen. This is key as stolen money can be difficult to track down and get back once it’s left the victim’s account. 

Artificial intelligence is also transforming healthcare. By giving medical professionals accurate data and insights, they can work faster while providing high-quality care to more patients. It also helps doctors make better treatment decisions and diagnose patients with increased speed and accuracy.

AI can help to encourage healthy living by coaching people on actions they can take to improve their health. For example, a smartwatch may learn an individual’s behaviour patterns. And send well-timed notifications to start exercising if it notices they’ve been sitting still for too long. 

The chances are that you’re already using some form of AI in your business. It’s increasingly built into the software that we all rely on every day.

But are you taking full advantage of what’s available? As a business, we track the latest applications that use AI to help protect us from cybercrime. And help staff collaborate and communicate better; to get their jobs done faster.