After the Data Analysis tools became more known to the companies, and they learn the benefit from that tool, and how it’s given the management the clear view on the all operations around the company departments in real time. Now, the need for more advance tools that can predict the future behavior became more obvious. Accordingly, more companies are looking to implement AI tools that can cover that needs.
What is the Artificial Intelligent?
According to (Adam C. Uzialko, 2019) we can define the AI is “referring to any type of computer software that engages in humanlike activities, including learning, planning and problem-solving”. From that definition we can understand that AI tools can act as human being and try to read the processed information and learn from it to suggest some decisions.
Artificial Intelligent and business
Business started to look to AI as a kind of robot that can act as a service desk who you can communicate and ask for a problem and this robot can answer these questions for you. This implementation is only use one of the AI capabilities which is search over predefined knowledge base. That is not the only benefit from AI for businesses, below chart can give you an idea about the most important benefits for business.
Is the AI can replace the human?
According to (Hassan Rahamathullah, 2019) “Artificial intelligence is invented to assist and enhance the power of Human Intelligence”. On the other word, AI is tying to mimic the human being using a complicated algorithm that was defined by the human. Also, AI is working on information, if it’s not available, AI will not work.
AI Use case on business
One of the examples for AI implementation in business and specially in finance field is “AI-Powered fraud detection” where the AI system is processing a huge amount of data to detect any suspicious transaction according to defined learning algorithms. Even if that system detected a false positive alert for one transaction and the human factor indicated this transaction as normal, then the AI will learn from that and will not indicate such transactions as fraud.
- Adam C. Uzialko, April 22, 2019, How Artificial Intelligence Will Transform Business, https://www.businessnewsdaily.com/9402-artificial-intelligence-business-trends.html
- Daniel Dern, February 8, 2019, Artificial Intelligence in Business: Using AI in Your Company, https://www.datamation.com/artificial-intelligence/artificial-intelligence-in-business.html
- Hassan Rahamathullah, Mar 12, 2019, Artificial Intelligence vs Human Intelligence, https://blog.usejournal.com/artificial-intelligence-vs-human-intelligence-4d141ba6216e
- AI-POWERED FRAUD DETECTION, https://www.mindtitan.com/case/artificial-intelligence-in-finance-and-banking/