What is AI?

Artificial Intelligence (AI) is the simulation of human brain processes using computer systems.

AI includes expert systems, natural language processing, speech recognition, and machine vision. AI requires specialized hardware and software to write and train algorithms. The programming languages used for AI are mostly Python, R and Java. Typically, AI work involves processing large amounts of training data to analyze it for correlations and patterns. These patterns are then used to predict future states. In this way, a chatbot that receives text chat examples can learn to have realistic dialogues with people, and an image recognition tool can learn to identify and describe objects in images by examining millions of examples.

Advantages:

• Handles jobs that require attention to detail well;
• Reduces the time it takes to solve problems with large amounts of data;
• Provides consistent results;
• AI-based virtual agents are always available.

Disadvantages:

• Expensive technology;
• Requires in-depth technical knowledge;
• Limited number of qualified people to create AI tools;
• It only knows what it has learned in training;
• Inability to generalize tasks.

The most important stakes are improving patient outcomes and reducing costs. Companies are using machine learning to make better and faster diagnoses than humans. One of the most prominent technologies used in health care is IBM’s Watson technology. The model understands natural language and can answer questions. The system analyzes patient data and other available data sources to form a hypothesis, which it then presents using a validity assessment scheme. Other AI applications include the use of virtual medical assistants and chatbots that help patients and healthcare customers find medical information, make doctor’s appointments, understand the billing process and perform other administrative processes. Various artificial intelligence technologies are also being used to better predict, fight and understand pandemics, as was the case with COVID-19.

Machine learning algorithms are being integrated into analytics platforms and CRM systems to provide insights into how to better serve customers. In addition, chatbots have long been integrated into Web sites.

AI can automate grading as well as grading and adapting to students, helping them work at their own pace. Virtual tutors can provide additional support for students to keep up with the curriculum. Perhaps AI technology can change the approach to learning, replacing some teachers.

Artificial intelligence in personal finance and tax filing apps is changing the way financial institutions operate. These apps collect personal data from customers and provide them with financial advice. In addition, AI is currently being used in the real estate buying process and does much of the trading on Wall Street.

The document selection process in law is often overwhelming for humans. Using artificial intelligence to automate time-consuming processes in the legal sector saves time and improves customer service. Law firms use machine learning to describe data and predict outcomes, computer vision to classify and extract information from documents, and natural language processing to interpret requests for information.

Industrial robots, once programmed to perform tasks separately from humans, are increasingly functioning as cobots: small, multitasking robots that collaborate with humans and perform a wide range of tasks in warehouses, factory floors, and other workplaces.