How AI is Being Applied in Business Contexts

Artificial intelligence, or AI, is the ability of a computer or machine to learn from previous experiences. Many AIs that are being unveiled to companies and consumers every day all over the world are able to understand, think about, and respond to all sorts of different inputs. From images and video, to written text and prompts, to math problems, and even code, AI is becoming a more and more useful tool for nearly every level of many industries. As of right now, there are many AI models in many different forms being used almost everywhere you look. There are AI driven dynamic content suggestions or removal on social media platforms, such as Facebook, Instagram, and Twitter. Self driving cars are powered by AI from companies like Waymo and Motional. Generative AI is seeing much of the recent attention because of ChatGPT, but can be found in automatically detecting security vulnerabilities and writing and validating code. 

There are 3 major types of AI – machine learning, deep learning, and expert systems. Machine learning lets computers learn from data and experience without requiring human intervention to manually program these machines. A use case for this type of learning can be seen in Snapchat and TikTok that use machine learning to apply interactive filters onto users’ faces. Deep learning deals with much more detailed patterns and more complex datasets. This type of learning significantly outpaces other machine learning data inputs such as images. Deep learning can be found in Google’s MetNet-2 neural network that predicts weather 12 hours ahead. The final type of machine learning is expert systems. Expert systems are able to mimic a real human expert’s decision making and while not self-aware, can still scale up the decision-making of a human. 

But what happens when you unify machine learning, deep learning, and expert systems? Zillow Zestimate as an example uses all 3 types of AI learning in order to price a home. Machine learning is used to anticipate the trends at which homes in an area code are being sold for. Whereas deep learning is used to find out that trees at a certain distance boost the price of a home by comparing thousands of listed homes to thousands of images. Expert systems are used to learn that the smallest house on the block will sell for higher than another house of the same size, but isn’t the smallest house on that block. 

In 2023, global spending on AI technology by governments and businesses will surpass $500 billion. By 2030, AI is expected to add $200 trillion USD to the global economic output. Every type of AI is having billions of dollars spent into research. From computer vision, used in Apple Face ID algorithms to unlock an iPhone, to predictive analytics, used by Google Maps to estimate travel time. Many businesses will be and are already using AI internally to automate and streamline every aspect of their companies. 

Learn more about the capabilities of AI in business and government and how AI is currently being used all over the world through advanced document understanding here.