As the world becomes more and more digitized, our reliance on technology to manage our lives only increases. From tracking our fitness goals to managing
Artificial intelligence software refers to tools that help with the reproduction of the processes associated with human intelligence using machines and computer systems. Considering how fast it has influenced how we work, live, and think, it’s no gainsaying that AI is the gateway to the future and here to stay in the private and public sector.
Artificial intelligence software has been adopted in businesses to robotize tasks normally done by humans such as security and scam detection, lead generation, quality improvement, time management, and customer services. Especially when it comes to complex tasks that involve the analysis of heavy documents with no errors, AI software can perform more wonders than humans through advanced data analytics.
Both rapidly thriving and ailing businesses can be further improved using a wide range of AI/ML-based software, even in industries such as education, automobile, finance, product design, and marketing.
Although the key applications of AI software are natural language processing, machine vision, computational tool, programming language, and speech recognition, these divisions are different from AI types.
According to Ared Hintze, an Assistant Professor of Integrative Biology and Computer Science and Engineering at Michigan State University, AI software can be divided into 4 categories. He stated that the types start from activity-specific intelligence currently in use and evolve into sentient systems which haven’t reached the public domain yet.
These artificial intelligence and machine learning systems are task-specific and without memory. This means that reactive machines cannot relate to using past experiences to address future problems. For instance, the Deep Blue built by the IBM chess project outsmarted Garry Kasparov in the 1990s by making identifying pieces on the chessboard using almost-accurate predictions. But due to the absence of memory, its efficiency in the contemporary world is restricted.
Unlike reactive machines, AI/ML-based software with limited memory has memory, so it can use previous experiences to address future problems. An example of groundbreaking innovations designed after this model is self-driving cars.
As the name suggests, this is a psychological concept with relevance to AI software, theory of mind says that products and services built using this type would have the social capacity to discern emotions. Since this type also comprehends human behavior, predict their actions, and easily collaborates with human teams, the theory of mind is more capable to run programmatic tasks.
This is the type of AI software that Ared Hintze referred to as sentient systems. It has the social intelligence to stay conscious and think as an entity just like humans. In other words, machines with self-awareness can deduce their own current state. Although it is not yet in existence, this is the goal of the father of AI – Emeritus Professor at Standford University, John McCarthy – when he said “AI is the science and engineering of making intelligent machines like humans” in 1955.
Researchers, scientists, and AI enthusiasts see AI/ML-based software to be incredibly revolutionary. But what are the attributes that make business analysts think of artificial intelligence software as highly as they do of electricity? Here they are:
| Features | Description |
| Data Ingestion | This is one of the key features of AI software as these systems can easily deal with advanced data analytics. Irrespective of company size, there’s always a huge chunk of data for analysis. For example, Facebook handles a whopping quantity of data daily that’ll be close to impossible for humans to manually analyze.
Furthermore, AI software uses advanced analytics to save a vast number of information about different entities across different sources and they appear on the system all at once. These tasks can’t be successful with ordinary database systems, so AI-enabled systems are known for data ingestion. |
| Copies Human Cognition | AI software is called “intelligent” because it copies or reproduces the natural way a human mind thinks and executes tasks. That’s their uniqueness. Just as human beings analyze their territory and engage with it, artificial intelligence also does the same.
A China-based tech leader, Baidu, can now clone a human voice using 2-4 seconds of audio of the human voice, unlike the initial 30 minutes. |
| Futuristic | AI software is built to relate with its surroundings – the icing on the cake is that it not only acknowledges the environment and its current use for a particular problem but also keeps track of similar situations to the current that might occur later in the future.
For example, a self-driving car can monitor the speed of other cars it is sharing the road with and try adopting similar speed plans while in traffic (deep learning/neural networks). |
| Gets Rid of Boring and Dull Activities | Especially in multinational corporations, many workers execute certain tasks because they had to and not because they enjoyed it. However, artificial intelligence and machine learning systems can continually do these tasks irrespective of how many times and it also makes complex tasks quite easier to accomplish. For example, the creation of the Google Assistant by Google’s Dialogflow can receive many commands to execute all forms of tasks. |
Artificial intelligence and machine learning software can be a bit pricey, so you can pay a fee ranging from $0 to over $300,000. You should also bear in mind that the costs of AI solutions depend on a custom platform or third-party platform invented by a group of freelance or in-house data scientists.
| Type of AI | Cost |
| Third-party AI Software | $0 to $40,000 per year |
| Custom AI Solution | $6,000 to $300,000 per solution |
However, this price tag also covers rollout and development. Existing AI programs such as consulting often cost less and are determined by the hourly fee charged by the consultant (usually between $200 and $350).
But if your business adopts third-party AI software such as readymade chatbots, you might have to pay up to $40,000 per annum. Meanwhile, you can also get free chatbot apps that can seamlessly satisfy your marketing needs, especially if your company focuses on entrepreneurial transactions.
This is one of the most popular industry leaders in AI that can help you train and analyze machine learning model for your business. Designed by Cloud ML Engine, the key elements of this software provide deep support and stability and include REST API, Google Cloud Platform Console, and gcloud
This virtual assistant also offers predictions that can help you regulate its design and other associated versions.
Azure Machine Learning is used for the deployment of your model just as a web service operates on an autonomous platform and is capable of using available data sources. Azure Machine Learning also provides long-lasting solutions to problems related to browsers.
TensorFlow is a number-based and computational tool available in an open-source system. Although this solution is primarily built for development and research, it can also be deployed on GPUs, TPUs, CPUs, desktops, and groups of mobile and edge devices.
H2O AI is ideal for insurance, marketing, telecommunications, and banking. It is open-source and it gives users the room to use programming languages such as Python to build systems. H2O AI also features AutoML which encourages the use of deep learning and gradient-boosted machines.
Cortana is a virtual assistant that executes multiple activities by setting reminders and offering solutions to our day-to-day problems ranging from switching on the light in your room to ordering a box of pizza.
This software is supported on various operating systems like Android, Xbox OS, iOS, and Windows. All you have to do to operate it is use voice control to save time.
Now, this section focuses on other areas of specialization that can perform more effectively when they work hand-in-hand with AI software. Integrating AI and predictive maintenance into the following fields will make the global economy safer and more reliable:
AI can be used for the automation of grading and other related tasks; thereby giving human tutors more time to concentrate on other important activities. AI can serve as a virtual assistant by repositioning how they learn and ensuring they do not lose focus.
Meanwhile, generative AI software such as Bard, ChatGPT, and other heavy language systems can help teachers build coursework and other teaching essentials. The emergence of AI, if properly engaged would also help reduce plagiarism, among students at all levels, to the barest minimum.
The finance space is currently under massive revolution, thanks to personal finance apps like TurboTax and Intui Mint. These applications can help users gather personal data and offer sound financial advice. Even IBM Watson and other AI software have gone a notch higher to the point of helping people buy homes of their dream. Currently, a vast majority of trading going on at Wall Street is executed by AI software and there’s more room for expansion.
It’s no longer news that analysis of legal documents can be overwhelming for the human brain. But with AI, thousands of documents can be sifted through within minutes. Top law firms are now using AI to evaluate data and foretell outcomes. Even computer vision comes in handy here for the extraction of information from documents.
AI-based systems and cloud-based service can also be used to address and improve entertainment systems like advertisements, content recommendations, fraud detection, distribution, script creation, marketing, and movie production. Newsrooms can also use AI to generate regular tasks like researching, article writing, proofreading, and data insertion. However, a question of morality surrounds whether or not journalism can use generative AI like ChatGPT to create content.
Building a machine that can imitate social and human intelligence is an unprecedented feat. As such, it can be extremely expensive and may not be afforded by every business and member of the social class.
Robots are fast disrupting the world’s economy, chasing workers from office, and assuming their places. Hence, the next few decades might be thrown into an abyss of unemployment since human beings are being fast replaced by robots.
Morality and ethics make up human beings but the same cannot be applied by artificial intelligence and machine learning systems. Well, development has not gotten there yet. Thus, there are concerns that the AI boom may, soon, become uncontrollable and annihilate humanity eventually.
AI seems to be handicapped in some areas because robots and other related applications are designed according to pre-loaded experiences and facts. They can carry out a task repetitively but cannot improve or adjust except their codes are altered. If forced to execute any task outside the pre-loaded boundary, they may give useless outcomes or utterly fail.
This AI refers to a boom in the subdivision of machine learning that helps to generate fresh content or data from the data source already in existence. The idea here’s to create a virtual assistant perfect for the real world. Generative AI is fast gaining prominence and examples are ChatGPT, Dall-E, and Generative Pre-trained Transformer 3 (GPT3).
The scope of AI’s support for different human actions has gotten to its climax: thus birthing the name collaborative robots or cobots. Market experts are also predicting more industries to embrace AI machines to run programmatic tasks. This trend also allows human teams to regulate the machines to quickly detect worries improve safety, and cut costs.
This can be seen in the automotive industry, agriculture, electronics, defense, and other business applications.
This trend is an electronic replica of an element or object we have in the real world. With AI, companies can now build virtual models for imitation which allow them to guess how the product will perform or react to each scenario. For example, the partnership between Germany’s BMW and Omniverse Platform (a division of GPU producer NVIDIA) has made the latter the former’s virtual company.
This service is used to boost the transparency and security of every form of business dealings taking place online such as insurance, cryptocurrency, and banking. Just like AI, Blockchain also helps to detect and minimize fraud and execute programmatic tasks faster than the human brain.
This cloud-based service supports on-demand connection of computer system resources such as computing power and data storage without the aid of the user. Like artificial intelligence, cloud computing works with heavy clouds that work across different sources and locations.
