The advent of modern computers has fueled technological innovation; scientists are now trying to create a computer with integrated artificial intelligence that can think like a human.
Does that sound interesting? Can you imagine how this innovation will change our lives?!
Artificial Intelligence is the process of transforming human decisions into mechanical processes using networks and algorithms. Therefore, we need a set of pre-defined algorithms to help us make business decisions.
Earlier, we only mentioned AI as a technology in sci-fi movies, but now it has become a real and highly practical technology or tool.
So, today we have started using technology to bring AI to society; even larger company following suit. In this blog, we will be discussing ‘why startups adopt AI.’ So, let’s start without delay.
- History of Artificial Intelligence: The concept of artificial intelligence has been around since Greek times, such as the golden robot of Hephaestus.
- Alan Turing’s Influence: In 1950, Alan Turing experimented in his paper “Computers and Intelligence” to see if machines could win the “imitation game.” In this test, the computer had to distinguish between the genders of the two players; the document is believed to have a major impact on AI.
- The role of natural language processing: Machines must interpret human languages such as English, French, Spanish, etc., and provide relevant insights through data processing.
- Self-driving cars: The transportation industry has made great strides in developing smart cars (i.e., vehicles that can drive themselves). Examples like Google’s self-driving car would only work with the best artificial intelligence technology.
- It attracts investors: Startups see artificial intelligence as a key business investment. CB Insights reports that there has been a significant increase in seed funding. Companies like Sentient Technologies have raised more than $100 million in investor funding after just a few years in business.
- Big companies are betting on AI: Not only startups but even big tech companies are responsible for the rise of AI. For example, IBM Watson performs all human actions; Google bought startup DeepMind for $400 million, and Facebook recently acquired Wit.ai.
1. Capital: About $2.4 billion was invested in artificial intelligence in 2015. In the first half of 2016, about 00 AI startups raised $1.5 billion in investment.
2. Algorithms: Algorithms such as deep learning are key drivers. Software such as RStudio and Sentient facilitate the rapid adoption of AI technologies in enterprises.
3. Hardware: Whether it’s Qualcomm’s neural processing unit (NPU), IBM’s TrueNorth neuromorphic computing platform, or Nvidia’s deep learning chip, companies are developing more chips to achieve faster and more powerful AI solutions.
4. Data: For real-time data integration with algorithms, companies are developing tools to process data efficiently and increase the number of datasets available to the public.
5. Skill: Humans are critical to the AI process. Recruiting quality talent with the right skills is a key driver of AI adoption in businesses.
6. Applications: User experience is key in AI application development. You must upskill your employees and expand your competencies to deliver customer value. But it will deliver customer value take time.
7. Accountability: Gaining customer trust is a key driver of AI adoption. AI must display core human values. Therefore, the winning formula for implementing artificial intelligence is to provide human and AI solutions.
- AI will create more free time for society. Also, people will be encouraged to try new things because of it.
- It will provide long-term and comprehensive business solutions. As a result, businesses can go beyond levels that would not be possible without AI.
- AI tools will enable entrepreneurs to turn creativity into action. This will save end users and businesses money
- Artificial intelligence applications will help users make informed decisions.
No matter what industry you’re in. Find out what’s available now and how to use it to gain a competitive advantage.
The possibilities of artificial intelligence are endless; companies will become efficient, intelligent, and profitable. There is no doubt that the digital revolution and artificial intelligence will advance to the point where they will bring real benefits to any business, big or small. So, do take advantage of AI and powerful AI Services beyond limits.
Author bio: Vishnu Narayan is a content writer, working at ThinkPalm Technologies, a software & mobile app development services company focusing on technologies like BigData, IoT, and AI services. He is a passionate writer, a tech enthusiast, and an avid reader who tries to tour the globe with a heart that longs to see more sunsets than Netflix!