AI in Business – How Firms can Take Advantage of it in 2023
In the era where artificial intelligence is making rounds on the internet with new tools that do all the work automatically, is there any benefit for the business sector? Definitely, it is. Firms can take advantage of this revolutionary technology in a number of ways that can open new venues for the firm to march on. The possibilities of artificial intelligence are almost limitless, as a single language model like GPT-3 has taken the internet by storm. Many other AI tools seem to perform time-consuming tasks in just mere seconds like generating artwork, creating customised images and even composing music.
This blog will guide you through all the recent advancements and explain how the tech industry is structuring this technology to benefit their products and services.
A Quick Overview of Recent AI Advancements
To elaborate on the recent advancements in this field, let me first back the upcoming statement by numbers. Today, artificial intelligence is handling tons of data to create effective outputs. It is estimated that by 2025, the digitised economy rate will cross 163 trillion gigabytes (163T GB). That enormous figure shows the future potential of this revolutionary technology. Also, giving an idea of what it will become capable of in the coming future keeping the recent advancements in mind. Artificial intelligence was coined in the early 1950s, and noticeable improvements were seen in the mid-2000s. Afterwhich tech enthusiasts just took this technology to implement more and more new features using it.
Here are some recent developments in the artificial intelligence market:
Adversarial AI is a strategy for developing artificial intelligence systems that can identify and defend against harmful actors’ attacks. It includes teaching a system to recognize and respond to adversarial inputs, which are meant to trick the model into giving inaccurate results.
In the area of computer vision, researchers have generated adversarial pictures that may deceive object recognition algorithms into misidentifying things, which is an intriguing example of adversarial AI. For example, an adversarial picture of a panda that seems to the human eye to be indistinguishable from a genuine panda may be altered to persuade an object recognition system to identify it as a gibbon.
The next big thing in the artificial intelligence sector is the explainable AI model. It is a set of tools that enable a system to explain its behaviour. For instance, these frameworks help you to understand and interpret predictions made by the machine, allowing easy debugging and new implementations within the model. To explain this type of system, take an example of an autonomous vehicle that is built using machine learning models.
Explainable AI provides the ability for the machine to reason why it decided not to stop or slow down in case the car crashes or hits an obstacle during testing. The machine will output the reasoning for ML engineers to make it more efficient and add more improvements. Explainable AI contrasts with the “black box” concept and increases working transparency within AI and business solutions.
Large Language Models
Moving on to the concept of LLM (Large Language Models) which is the neural network behind the ongoing talk of the town, the GPT-3 chatbot. LLM is a large language model (typically consisting of over a billion data parameters). This neural network with an enormous number of parameters is trained for generating intelligent text from user inputs. Unsupervised learning is mostly used in training these types of models with unlabeled text. The machine utilising its self-supervised learning ability performs various pattern-matching processes to develop correlation in the data and generate an appropriate output. NLP (Natural Language Processing) plays a vital role in this complete process to understand various human languages and inputs.
How Artificial Intelligence will Impact Business Regardless of any Industry
The recent advancements in the AI field, some of which are described above, are enabling businesses to take their offerings to a new level. For instance, with LLM models firms can create their personalised chatbots to assist their customers with all the necessary information regarding the business – all in one place. Apart from just chatbots, LLM can help businesses to expand their footprint to other regions of the world where they were previously able to deliver their services due to language hurdles.
Adversarial AI is also a promising tool to prevent cyberattacks and strengthen security. This technology provides understanding to businesses how their systems can get hijacked plus what to do when experiencing such an attack. A survey from 2020 shows how important Adversarial AI is when it comes to stopping machine learning attacks.
Explainable AI is one of the core tools that businesses can use to ensure when something goes wrong in their digital systems. Taking the example of the automobile industry use case, companies can track where their system lacks efficiency as machines can justify all the primary aspects of their working cycle using explainable AI technology.
AI for Social Good
Artificial intelligence for social good is an initiative from globally renowned businesses and tech giants that aim to make AI to help mankind and address societal challenges. It aims to guide new startups and NGOs that implement AI solutions to understand the impact of machine learning on social, environmental and humanitarian levels. Businesses must observe international regulations when utilising this technology and make sure that they maintain all ethical standards.
What the Future Holds for AI
The future of artificial intelligence in business is undoubtedly bright as everyone is talking about AI tools to perform tedious tasks. In 2023, everyone must have seen trending social media posts, podcasts and tutorials on how to use AI tools to do most daily tasks, from generating a simple Facebook caption to getting a complete 10-minute video script ready for the next podcast. All these trends indicate that the future potential of AI is enormous and packs a lot of development and creation.
How Programmers Force Can Help
The Programmers Force is an artificial intelligence company software development and IT firm that ensures technology is put to good use. We are envisioned to contribute to this ever-evolving field of artificial intelligence for the betterment of human life. We assist businesses and startups in implementing AI solutions with innovative software offerings that help them compete with others in the business industry. For more guidance on how we implement AI solutions specifically for your business products, contact us.