Artificial intelligence (AI) refers to the intelligence exhibited by machines or software, as opposed to the natural intelligence displayed by humans or animals. It is a field of study in computer science that focuses on developing and studying intelligent machines. AI technology is widely used across various industries, government, and science. Some high-profile applications of AI include advanced web search engines, recommendation systems, understanding human speech, self-driving cars, generative or creative tools, and competing at the highest level in strategic games.
AI encompasses the simulation of human intelligence processes by machines, especially computer systems. It involves the performance of cognitive functions associated with human minds, such as perceiving, reasoning, learning, interacting with an environment, problem-solving, and exercising creativity. AI technology is used in various domains, including marketing and sales, operations, IT/engineering, risk and legal, strategy, and corporate finance.
AI has become a catchall term for applications that perform complex tasks that once required human input, such as communicating with customers online or playing chess. It is improving enterprise performance and productivity by automating processes or tasks that once required human power. AI can also make sense of data on a scale that no human ever could, returning substantial business benefits. It is a strategic imperative for any business that wants to gain greater efficiency, new revenue opportunities, and boost customer loyalty.
AI, machine learning, and deep learning are common terms in enterprise IT and are sometimes used interchangeably, especially by companies in their marketing materials. While AI has the potential to improve productivity and efficiency and create new job opportunities, it also raises concerns about development costs and the possibility of automated machines replacing human jobs. However, the artificial intelligence industry also stands to create jobs, some of which have not even been invented yet.
In summary, AI technology encompasses the simulation of human intelligence processes by machines and is widely used across various industries, government, and science, offering numerous applications and benefits while also raising important considerations about its impact on the workforce and society.
