Cognitive technologies are enticing organizations across industries and specialties
to experiment and implement AI initiative to modernize their products, services, systems, and
business processes. The world of AI tools and automation is evolving and the companies that are
using AI have been growing rapidly.
Artificial intelligence solves various problems and helps businesses to increase
sales, productivity, fraud detection, enhance customer experience, automate work processes, and
provide predictive analysis. Industries such as health care, automotive, banking and financial,
including logistics have a lot to achieve from artificial intelligence and its implementations.
Using its tools, AI can help various industries and service providers by redesigning the
business processes and the way it operates in the market.
The term Artificial Intelligence (AI) has been around for many
years and was first introduced in 1956. It is often described as the single and the biggest
technology revolution in the world.
When a machine is able to make decisions based on the information provided is known
as Artificial Intelligence. It can be a task, effort or an action, which is
carried out by a machine or a computer that could relate to human intelligence.
Machine learning is an application of AI, which focuses on
providing computer systems an ability to learn and improve automatically from the experience
without being programmed. By the use of machine learning, Artificial Intelligence is capable of
solving problems by learning from the data to provide a relevant solution. AI is making things
easier for machines to perform operations without humans having to explain to them how a task
can be accomplished.
The term cognitive computing is described as the current wave of artificial
intelligence and, precisely machine learning, with a touch of self-learning, contextual and
AI is changing the business scenario
Banking and financial services can gain benefits like automation and fraud
detection using the AI-based process. The logistics and retail businesses are using AI for
better inventory and delivery management and help to decrease power consumption.
Breakthrough results are possible by embracing cognitive technologies- when a
firm takes correct steps in planning and developing the complete structured layout of the
technology. It also gives agility, higher productivity as well as the work satisfaction to
the employees and the firm.
The rise of virtual assistants such as Amazon's Alexa, Google Home, Apple’s
Siri, and Microsoft's Cortana is also an outcome of AI-based algorithms to make life better.
These technologies are developed to fulfill more prominent roles in dictating future of
consumer behavior. It has been researched that your future transactions will be completed
with the help of an AI-based Chatbot or virtual assistants.