Artificial Intelligence has had a significant impact on the transformation of our economy. Many companies have/are radically changed their organisation and their modalities. Entrepreneurs started to embrace a new technological revolution.
Artificial Intelligence is currently and is going to have a big impact in the ecommerce world. You should strongly consider renovating and updating your business strategy if you are an entrepreneur. Successful companies need to be in tune with the times and open to innovation.
What are commercial applications of Artificial Intelligence?
There have been many applications in business and ecommerce that utilise AI. Many companies recently benefited from futuristic and pioneering technologies, which were unimaginable until a few years ago. These new systems radically improved different areas of industrial and entrepreneurial processes.
The most common commercial applications of Artificial Intelligence are:
Intelligent Data Processing
In this case, Artificial Intelligence uses different algorithms to analyse specific data to complete particular actions. In this category, there is Predictive Analysis and Fraud Detection.
Virtual Assistants and Chatbots
In this category, we can find the so-called chatbots. These are software agents able to complete actions or provide services to customers based on received vocal or written commands. These applications are often used in Customer Service and Customer Care as the first level of interaction with potential customers.
Recommendation System
These AI applications direct the choices of the users based on provided data. A prevalent tool is a system suggesting a specific purchase following previous checkouts. E-Commerce stores such as Amazon and eBay broadly use this algorithm.
Natural Language Processing
Artificial Intelligence can be used to analyse language natural expression. The final goal is to improve the understanding of new texts’ content, translation, and production. It relies on the development of inputs, information, data and documents.
Computer Vision
This is an exciting scientific field which studies algorithms and techniques to allow computers to have a high understanding of images and videos. The development of this accelerated during the latest years thanks to the new methods of Machine Learning. It’s focused on recognising people, animals and other objects inside pictures. This technology is often used in security and video surveillance to spot bizarre or dangerous situations.
What are the applications of Artificial Intelligence in action?
Artificial Intelligence has rapid improvements during the latest years. It will have a more and more relevant role in Business and Commerce. AI is helping many companies to be more productive and efficient. It’s versatile and can be used in the most diverse industrial sectors.
Artificial Intelligence can have many practical applications, such as:
Autonomous Vehicles
In this case, advanced and pioneering AI systems can support the autonomous driving of different types of vehicles. This technology will be prevalent, especially in goods and products’ transportation and industrial distribution.
Intelligent Object or Smart Object
In this circumstance, specific objects have an AI system by which they can carry out operations without the direct input of the human being. This integrated technology is often linked to intelligent sensors and detectors. These allow the objects to make decisions based on the surrounding environment.
Autonomous Robots
Thanks to the most advanced AI systems, many robots can independently act without anyone giving them commands or orders. These technological devices can recognise and interact with the surrounding environment. Autonomous robotics will be very popular in industrial manufacturing, logistics and distribution.
What are 3 Artificial Intelligence components used in the application?
Artificial Intelligence has extensive usage in many fields, such as big data, medical research and autonomous vehicles. However, it’s relevant to understand that all AI applications are based on specific concepts and steps.
In essence, the word AI has an expansive and generic meaning. We can identify 3 main components:
Machine Learning
It can be considered a subset of Artificial Intelligence which creates new systems learning or improving performances based on accumulated data. This technology is very versatile and is used in many fields, such as banks, social media, and e-commerce websites. It’s mainly focused on acquired algorithms and the absorption of many statistics.
Deep Learning
Refers to a learning process on behalf of machines thanks to specific algorithms and statistical calculations. This technology is primarily used to automatically recognise spoken language. In essence, this system uses different classes of automated learning algorithms.
Artificial neural networks
Artificial neural networks are a subset of machine learning and the central element inside deep learning algorithms. The structure is inspired by the human brain, given that they imitate biological neurons and their method of sending signals. Artificial neural networks include different levels of nodes containing input and output levels. Every node has a connection with another one to build a web.
What are the common uses and applications of AI?
Artificial Intelligence has become more and more crucial within the last 50 years. Since computers have advanced technologically, AI systems and algorithms will be more accurate, sophisticated and advanced in the near future.
At the moment, Artificial Intelligence has widespread applications in different areas of our life, such as:
Online research
Every time you use a search engine such as Google or Yahoo, these platforms will suggest relevant research according to specific data and statistics provided by the users.
eCommerce and Advertising
Artificial Intelligence is massively used to deliver suggestions based on previous purchasing and old research. Many big players in eCommerce, such as Amazon and eBay, often display new ads according to your online behaviour and your old checkouts.
Digital personal assistants
Mobile phones often use Artificial Intelligence to provide a more customised and tailored product according to the users’ preferences. Virtual assistants can reply to questions, provide suggestions and help people manage their schedules.
Automatic translation
There are different automatic translation applications based on written or audio texts. They use Artificial Intelligence to deliver and improve translations. A typical example may be automatic subtitles on YouTube.
Vehicles
Different companies such as Volkswagen recently released some advanced prototypes of autonomous cars, such as the ID BUZZ. The self-driving system may have extensive applications in the future, especially in transportation and distribution.
Cyber Security
Artificial Intelligence systems can help people recognise and fight hackers’ cyberattacks. This technology is mainly based on analysing large data flows, identifying tendencies and rebuilding the dynamics of previous intrusions.
Which of these is an AI application used by most companies?
It’s well known that Artificial Intelligence has enormous potential and forms of versatility. Different companies use multiple AI systems to improve their efficiency and productivity.
At the moment, the most common application of AI in the business environment is Natural Language Processing. NLP is relevant because it enables a genuine dialogue between human beings and machines according to different aspects, such as phonetics, phonology, semantics and pragmatics. It involves many tasks which can be applied in many industries, such as:
- recognition of a language
- deconstruction of a sentence in elementary units
- semantic analysis
- sentiment analysis
NLP can be used in different business environments and areas to improve productivity and efficiency. Mainly, it’s adopted in the analysis of corporate emails to recognise undesired messages and classify the content by topics. NLP is adopted to extract information reports and procedures to favour their consultation in other cases. After that, it can be used to study administrative documents such as contracts and invoices.
NLP can be beneficial in analysing posts on different social networks to understand the emotions and attitudes of the users. This technology is often used to favour the consolidation of a brand and the communication with its customers.
Furthermore, NLP can be used in building intelligent conversational systems. This application is common in various devices such as Alexa by Amazon. The main goal is to imitate the human dialogue, reply to specific answers, and carry out complex tasks.
What are the different applications of machine learning?
It’s well known that one of the most essential and relevant branches of Artificial Intelligence is Machine Learning. Machine Learning is mainly based on different electronic devices and can automatically learn new stuff. It’s essentially founded on specific algorithms with mathematical and computational methods to acquire new data and improve the whole performance.
Machine Learning can has different use cases in society:
Image Recognition
Machine Learning is used to identify objects, people, places and other elements. Especially this technology is adopted to recognise the faces of specific individuals in a picture. This system is prevalent among social networks such as Facebook. It is based on analysing particular traits of an object or an individual.
Speech Recognition
Is a process where software can recognise a human voice and transform it into a text. This algorithm is widely used among different applications such as Google Assistant, Siri, Cortana and Alexa.
Traffic Prediction
This is very crucial on some platforms such as Google Maps. It allows for identifying the shortest route in a geographic area. It also predicts the typical level of traffic conditions and eventual problems such as congestion.
Product recommendations
This is often used among e-commerce websites like Amazon and streaming services like Netflix. This algorithm allows identifying the recommended products for specific users based on their previous choices and purchases. Even Google adopts a similar system and usually tracks the movement of the users to predict interesting future decisions.
Virtual Personal Assistants
Over the latest years, many companies developed their virtual personal assistants, such as Alexa, Cortana, and Siri. These tools help people to find appropriate information using human voice instructions. These systems mainly use sophisticated Machine Learning algorithms to interact with people.
Online Fraud Detection
In this case, Machine Learning is used to make online transactions safe and to detect eventual frauds. This algorithm is mainly based on the analysis of hash values.
Conclusion
So, what exactly is artificial intelligence and why should you care? In short, artificial intelligence is a process of making a computer system “smart”- that is, able to understand complex tasks and carry out complex commands. It has already had a significant impact on our economy and will continue to do so in the years to come.
If you are an entrepreneur, it’s crucial that you stay up to date on the latest trends and technologies and be prepared to embrace them in your business strategy. Contact us today at HostHelp to see how we can help get your business online with a new website or hosting plan that takes advantage of all the opportunities presented by artificial intelligence. Thanks for reading!
