A Simplified Approach towards Introducing Artificial Intelligence

The Quintessential Technology Source for Corporate Financial Professionals

A Simplified Approach towards Introducing Artificial Intelligence

By CFO Tech Outlook | Monday, June 03, 2019

FREMONT, CA: AI offerings are catering to an increasing number of organizations and business enterprises. The advantages that come with AI are innumerable, and the various branches of AI have already helped revolutionize many industries and processes. In spite of the full acceptance that AI has gained, it remains an advanced technology that requires expertise. Companies often find it challenging to understand and use AI optimally. The best way for companies to approach AI is by clearly following its ideologies, all the benefits it has, along with the drawbacks and implementation.

Artificial Intelligence is a technology that applies human cognitive powers on computers and machines, which allow them to perceive, think, solve problems, understand patterns and deal with situations like a human would. The technology is at a nascent stage, yet it is sufficient on its own to drive up efficiency, save costs and automate processes. Companies can start their AI journey at the earliest with a few simple steps and do not have to bother about the transformation as complicated and inefficient. A right strategy that would trigger correct implementation and handling is necessary.

As a first step, a company should build or rent an AI-platform for itself. A set of codes from open source libraries can help the platform to start running. Besides, as per the requirements, a company can get its engineers to write codes in any language of choice. Adding data is the next step to get the AI system functional. AI depends on the data to train itself. The larger the set of data that a company can feed to the system, the better the AI shall function. To get desired outputs, the company will need to employ a team of experts, including data scientists and machine learning engineers that can create and apply the algorithm based on the model of machine learning in place. This will allow the analysis of data which the company can utilize in several avenues.

Check Out : Top Artificial intelligence Companies 

Next up is the iterative training process to train the AI. Once the infrastructure is ready, the tech team must introduce adequately sized data samples that would yield the required outputs. Through the outputs, one can find out the accuracy of predictions that the AI gives and modify the model to be better before being used. Once the model is optimized, it is ready for deployment. New, real-life data can then be, and the company can reap benefits. Tweaking the system from time to time is essential as the parameter keeps changing. Finally, it is up to the companies to decide whether they want to develop their own AI through a dedicated tech team or opt for specialized service providers that support companies looking for AI solutions. 

Few Artificial intelligence companies : Beyond Limits , Capestart , Coalesce  

Weekly Brief