It is useful for companies to look at AI through the lens of business capabilities rather than technologies. Broadly speaking, AI can support three important business needs: automating business processes, gaining insight through data analysis, and engaging with customers and employees. The basic objective of AI (also called heuristic programming, machine intelligence, or the simulation of cognitive behavior) is to enable computers to perform such intellectual tasks as decision making, problem solving, perception, understanding human communication (in any language, and translate among them). Artificial intelligence is driving innovations and transforming business development. ... AI focuses on rapid business expansion, improved customer relationships, faster fraud detection, and other critical segments and helps companies gain an edge over their competitors. Their principles underscore fairness,transparency and explainability, human-centeredness, and privacy and security. AI technology is important because it enables human capabilities – understanding, reasoning, planning, communication and perception – to be undertaken by software increasingly effectively, efficiently and at low cost. Use cases are proliferating as AI's potential is understood.

Gokul Pradeep

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