Artificial Intelligence is here and it is transforming everything
At this year’s South by Southwest (SXSW) technology conference in March, Space X and Telsa founder Elon Musk, delighted the audience with a Q&A session, where he discussed the colonisation of Mars and his warning that Artificial Intelligence “poses a far greater threat than nuclear arms.”
“AI is advancing rapidly and is capable of so much more to come. I’m not normally an advocate of regulation, but there needs to be a public party with insight and oversight to confirm everyone is developing AI safely. It poses a far greater threat than nuclear arms and yet no one would ever suggest anyone should be allowed to build a nuclear warhead.” – Elon Musk
AI is already working in the background to some extent in running digital platforms, social media, healthcare, manufacturing, finance, security and much more.
Artificial Intelligence is here
AI continues to be a hot and broad topic. We already rely on smart assistants such as Alexa, smart cars, smart homes, healthcare apps, security systems, online banking, social platforms, digital news content, online customer support and more.
Deep learning, neural networks, algorithms, autonomous and self-aware robots are just a few areas that Computer Scientists are focused on improving rapidly. Tech titans such as Google, Facebook, Amazon and Microsoft are investing millions of dollars on research and advancement of AI. For example, Google bought artificial intelligence start-up, DeepMind for $400 million in 2014.
Amazon, the online retail giant is transforming into an AI giant.
“At Amazon, we’ve been investing deeply in artificial intelligence for over 20 years. Machine learning (ML) algorithms drive many of our internal systems. It's also core to the capabilities our customers experience – from the path optimisation in our fulfilment centres, and Amazon.com’s recommendations engine, to Echo powered by Alexa, our drone initiative Prime Air, and our new retail experience Amazon Go. This is just the beginning..." AWS
AI and Social Platforms
AI based Content
What we see on social channels such as articles, blogs, images, trending news and advertising, is influenced by AI algorithms that push targeted content. Machine learning is becoming more sophisticated and accurate at predicting user preferences. Using language processing, AI can analyse user interests and geography to create content that is specific to the target audience.
Data and User Experience
AI systems can crunch through massive amounts of data very quickly. AI based systems can then adjust their patterns accordingly. This means data gathered by AI systems not only detects user behaviour but it adjusts its algorithms to be more accurate.
For businesses and brands, gathering user data is gold. A personalised customer journey is one of the key factors in influencing buying decisions. With vast amounts of user data, it is possible to create targeted advertising at the right time, in the right context. For marketers this means using data to create relevant marketing initiatives such as apps, website content, targeted messages, push notifications and design elements that are specific for the target user.
According to research, Consumers are willing to share personal data for better experiences and personalisation.
In this age of vast user data gathering, there are some challenges related to privacy policies and data collection. Cambridge Analytica, a data consulting firm that worked for President Trump's 2016 campaign has recently come under fire. The data scandal involves more than 50 million Facebook users.
Mark Zuckerberg, Facebook’s CEO, apologised for the Cambridge Analytica scandal in full page print ads with the message, “We have a responsibility to protect your information. If we can’t, we don’t deserve it.” This story is still unravelling with new developments. Christopher Wylie, who worked at Cambridge Analytica revealed that the consultancy accessed the data of 50 million Facebook users without their knowledge. Wylie recently gave evidence to the British parliamentary committee over the scandal.
Bots, Virtual Assistants and Messaging
Bots and Virtual Assistants are efficient in responding to customer queries in an accurate and timely manner. For example, visitors to your website can chat with your Virtual Assistant (VA) in real-time. Natural language processing technology enables VAs and Bots to understand words and also get a sense of your customer’s intentions. VAs can act as customer service guides on your website by directing your website visitors, providing product information and helping with purchase decisions.
Facebook has been innovating ways to help businesses reach its 1.32 billion daily average users and its more than 2 billion monthly users. Facebook Messenger reaches 70 million daily users and is proving to be an effective way for businesses to get in front of their audiences. According Sprout Social, Facebook’s M or chatbots are providing brands with better ways to connect with customers and making them high priority. There are roughly 100,000 chatbots in use on Facebook Messenger and that number is growing.
Future trends in AI
An interesting trend to watch is AI and cloud computing tools. Microsoft announced that it wants to transform healthcare using AI and the Cloud. “Providing cloud and AI-powered tools will unlock the vast potential at these points of convergence. It’s why our focus is threefold: developing foundations for precision healthcare, enabling the health industry’s move to the cloud, and empowering the people that make healthcare work.” – Microsoft Blog
Artificial Intelligence, smart machines and robots are not science fiction concepts for the future. AI is here now and it will soon be everywhere. CB insights put together a list of 14 AI trends, which includes social robots in our daily lives, cybersecurity, facial recognition and autonomous cars. AI is already transforming healthcare, manufacturing, business, security systems, jobs and more.
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How Artificial Intelligence is changing how we live, how we do business and how we market