“Artificial Intelligence (AI) is already changing our lives and creating a foundation for an information-based society. In essence, AI is machine learning – practicing and executing tasks without relying on human programming. How efficient!

For most of us, the embodiment of AI are new clever gadgets and experiences, not forgetting devices and functions such as unlocking an iPhone with facial recognition. AI also enables aspects in other parts of lives. On prominent area is the healthcare industry.

For instance, hospitals are now testing a program that inspects pictures of human retinas for signs of retinopathy. Unfortunately, under previous circumstances, these signs have been diagnosed too late for proper treatment. With the help of AI, these symptoms can be recognized in time and deterioration of the retina can be stopped. Another example of machine learning comes from the automotive industry where it enables vehicles to understand their surroundings and drive autonomously.

Evidence suggests that AI can increase health and happiness, but one must still be cautious. The human factor in decisions making cannot be fully replaced in all situations.

Autonomous vehicles, personal assistants, smart factories and robots make our lives easier, safer and better. The latest advances in technology have made what once was believed to be merely fantasy, a reality.

AI has begun to morph many industries such as finance, healthcare, resale, logistics, and media industry. Therefore, it is expected to account for tens of billions of additional revenue Euros in the next ten years. For instance, many innovative solutions for the food production and manufacturing industry have been created through SAP Leonardo.

How to use AI in practise?

Elements of AI will be a part of nearly all types of business, at least to some extent. Organizations should, therefore, investigate the potential of AI through the following points:

  • Recognize the areas in your industry where AI could be utilized.
  • Find out how AI is now being used in your organization and what must still be done
  • Understand your organization’s processes and discover the business cases where AI can increase effectiveness and create added value.
  • List the practical aspects which should be paid attention to in implementing AI including people and platforms.
  • Record the information with clarity and logic.
  • Start recruiting and training AI talent already now.

When will AI become mainstream?

Through data, AI can automatize continuous learning and discover relevant data. Therefore, AI is different from automatizing robotics in equipment.

Instead of manual task automatization, AI reliably and relentlessly performs vast numbers of computerized tasks. Still the human factor cannot be ignored in this type of automation, especially in the implementation phase of systems and when creating the appropriate questions.

Artificial intelligence can make already existing products smarter. In many cases, AI is not sold as an individual application. However, many current products are improved by incorporating AI features such as Siri, for instance, which was introduced to newer generation Apple products. Automation, chat pages, robots and intelligent machines can be connected to vast amounts of data to improve technology at both the office and at home – from security research to investment analyses.

Through progressive learning algorithms, AI adapts and discovers data structures and consistencies so that the algorithm itself gathers the data. The algorithm changes to a classifier or a predictor. Just like an algorithm can learn to play chess, it can also teach itself which products to recommend next when you are online.

Models adapt when they are given new data. If the first answer is not desirable, AI will learn through additional information. The more we use AI, the more it will learn.

It can be said that AI is fully able to squeeze everything out of data. When the algorithms are self-learning, the use of information becomes human capital. In a heavily contested industry where all players use the latest technology, the organizations that utilize their data the best will have a true competitive advantage.”

Can we help you to digitalize your business with AI?

Contact Information:
Piia Hoffsten
Chief Operating Officer
piia.hoffsten (a) isletgroup.fi
+358 40 5877 303

Buzzwords: #AI #machinelearning #digitalization #automatization #iot #intelligence

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