Artificial intelligence is the emerging technology that is designed to make machines smarter. This is done to automate tasks with little to no human intervention. Simply stated, artificial intelligence is all about giving machines their own ‘brain’ and making them independent. After John McCarthy invented the term in 1950, the people and businesses came to know about the numerous benefits of artificial intelligence.
John was adamant that the machine, in the near future, will be able to control themselves. He also said that the machine would be able to perform tasks equivalent to humans but with greater accuracy. And this is by far one of the most effective benefits of artificial intelligence.
The core of artificial intelligence is made up of coding. There are millions of lines of codes and algorithms teaching a machine how to do a task. The second crucial element is the data that is fed to the machines. These data are the backbone of artificial intelligence because the machine forms its behavior according to the patterns in data. Hence, the most important part of artificial intelligence is to develop algorithms by coding that will help the machine collect and process data.
As technology is covering almost every sphere of industries, households, job and businesses, the benefits of artificial intelligence and emerging. Earlier, AI was used only by researchers or scientists but now it had taken its place even in our home! For instance, the smart assistant you have on your phone (Siri, Alexa, Google Assistant, etc) is an astonishing example as well as the benefits of artificial intelligence.
Since the benefits of artificial intelligence are very wide, here we are taking a look at the most prominent advantages of AI:
#1 Enhanced Automated work:
In the list of benefits of artificial intelligence, automation is undoubtedly in the first place. With the implementation of artificial intelligence in industries, the workflow had become streamlined. Today, AI automated machines are able to handle backbreaking tasks very easily and efficiently.
Machine learning, deep learning, and big data are the technologies that are being adopted in industries at various levels to reduce the pressure on human resources. Ultimately, this leads to decreased operational cost, decreased chances of failure and reduced cost of manpower. So it is evident how the benefits of artificial intelligence in automation are bringing about a change in the sectors.
One such example of automation is a Japanese machine tool builder, Okuma. They have presented a multitude of innovations in the field of artificial intelligence. This redefines the way industries work by providing robots for industries of all scales and developing improved and smart machine tools.
#2 Benefits of artificial intelligence in eliminating tedious work
Artificial intelligence’s algorithms are designed in such a way that they derive their intelligence from the data it collects. It finds patterns and predicts the future according to it. One of the most amazing benefits of artificial intelligence is that it can’t encounter lethargy. This means that the AI-powered machines can work without getting tired like humans.
This ability of artificial intelligence allows it to take the place of humans doing tedious and repetitive jobs that require no innovation. These humans can then be directed to doing more creative work.
For instance, these benefits of artificial intelligence are most effectively implemented in the banking and finance sectors. They have started using AI to cut down their workload of doing cumbersome tasks. Instead, they have relied on AI to complete the task efficiently and accurately. Thus, the finance institutions are seeming to enjoy the benefits of artificial intelligence the most.
The use of AI in this sector is leading to quicker banking and making it easier for customers. This technology also enables the finance analyst to get a bit released of doing tiresome work and instead focus on research and analysis tasks.
#3 Smart weather forecasting
In recent years, we have seen how successfully AI has merged the climate data with climate scientists. The field of “climate informatics” is reaping and producing excellent results. This technology enables scientists to observe and analyze the parameters affecting the climate of an area. Further, it also alerts the scientist whenever the parameters have exceeded their limits and pose a potential risk of disaster.
Additionally, the benefits of artificial intelligence in weather forecasting helps in finding out which region is susceptible to a natural calamity or disaster. This further helps in preventing human life loss by warning them earlier.
IBM, an American multinational has been using artificial intelligence to predict an accurate future. There is also consistent research going on in this field by IBM to use it more deeply. As the field of weather forecasting is very demanding as it needs a huge amount of data, smart computers, and deep-learning to dish out complex problems. This became possible with the use of artificial intelligence.
#4 Benefits of artificial intelligence in disaster response
Due to several natural disasters that happened in recent years, many companies are now working to use artificial intelligence to fight disasters. This will be done by developing a number of algorithms that collect the data, identify the cause and predict possible outcomes. This can be of immense benefit because if any future risk arises, humans can take action at the right time.
Hence, artificial intelligence may be termed as a crucial tool that can help with smart disaster response. Further, it is also expected that deep-learning will soon integrate with the disaster response sector to come up with effective strategies.
#5 An end of responsibilities
With AI taking over nearly every field, the role of humans is shifting from cumbersome jobs to create jobs. This means that AI will help us get the freedom of unwanted and unnecessary responsibilities. Of course, we cannot let the artificial intelligence become the supreme intelligence and control us blindly. However, not seeing its benefits and advantages is also a sign of ignorance.
Paul Scharre’s book “Army of None” lays emphasis on the uses and benefits of artificial intelligence in the war field. He focuses on the increasing use of AI in wars that could save the human cost of life. Certainly, this could be a possible application of artificial intelligence in the days to come.
#6 Creativity and technology
The coming generation is giving us various practical solutions and examples telling us that perfect marriage of creativity and technology is possible. The strategies of generation Z reveals to us that the AI can be used to produce excellent results. Using the powerful tool of artificial intelligence, brands and firms can align their motive with the thoughts of Gen Z.
The business and marketing sector is largely data-driven and the use of technology that is able to handle and process the data effectively is the need of the hour. Moreover, in nearly all the businesses, the main goal is customer satisfaction and profit-making.
With the use of artificial intelligence, businesses can record the behavior of the customer and can use it to personalize their products and services. This will result in improved customer satisfaction, optimized sales funnel and thus increased sales profits.
As customer forms the base of all the businesses, using AI to ease the way they function and making their transaction with the company easier, brand gain trust. And as it is rightly said that trust is what makes a company people’s favorite.