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The Future of Artificial Intelligence in the Workplace

Ready for a fun AI fact?

Even though AI is a fairly new term (at least as far as the zeitgeist is concerned), the term artificial intelligence was actually coined way back in 1956!

Thanks to the development of big data, computing power and storage, and advanced algorithms, AI has played a key role in the digital transformation. Indeed, it is changing the way we do business today. AI permeates our everyday life without us even realizing it. This includes the way we surf the web, do our online shopping, our banking, seeking medical assistance, and use our smart home devices.

In today’s blog, let’s define AI and talk about the future of artificial intelligence in the workplace.

What is Artificial Intelligence (AI)?

There are a number of definitions of AI out there, but they more or less all fall along these lines. AI is:

“The theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.”

Early notions of AI were presented by Hollywood as humanoid androids, prepared and ready to take over the world. Social commentators aren’t discounting the possibility, but thankfully, the AI we’re talking about today is quite a bit less scary and considerably more helpful. Modern AI is a branch of computer science focused on building smart machines capable of performing tasks that typically require human intelligence.

How is AI used?

Some of the most popular industry examples of AI are:

Health Care - AI provides assistance for personalized medicine, online health care, and overall health and wellness goals such as exercise and medicine consumption.
Manufacturing - AI improves equipment efficiency and can be combined with IoT to improve safety and predict maintenance needs, by analyzing large data collections. For more on how technology affects manufacturing trends, click here.
Life sciences - From drug safety to personalized treatments and digital diagnosis, AI is predicted to solve some of the world’s biggest health challenges. For more on life science technology-related industry trends, click here.
Banking - AI enhances the overall banking experience by improving customer experience, fraud and security management, and personalization. Click here to learn more about how technology is positively affecting banking.

Why is AI important?

AI has proven itself useful in industry for a variety of reasons, including: minimizing human error, automated repetitive learning and data discovery, and improving tech product intelligence. Advanced algorithms provide AI with adaptability, rapid speeds, and the ability to improve customer experience across many industries.

Conclusion: The Future of Artificial Intelligence in the Workplace

We experience AI every time we look at Netflix’s recommendations, talk to Alexa, see a self-driving car, or use a conversational customer service bot. Want to read more about how different technologies are impacting business? Click here for our blog on 5 Business Technology Trends for 2021.

Topics : AI, Articles, Artificial Intelligence, Banking, Big Data, Healthcare, Life Sciences, Manufacturing, Technology

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