Artificial intelligence: future and present
In the modern world, humans can do much more work in a day than our predecessors just a few decades ago. With instant communication, lightning-fast computer calculations and more information than we sometimes know what to do with, today’s workplace can be “information overload.”
As we look at our busy lives and modern workplaces we may think: What is artificial intelligence (AI) and how can it help me? Artificial intelligence can help us sort information, find what is most useful and deploy it in a way that reduces our stress – a positive thing in both business and day-to-day life. As Tony said of his experience with AI, “The best part is to be able to help millions of people, individuals and millions of locations simultaneously.” It’s truly incredible.
So what are the different types of artificial intelligence? How can they benefit your business? What does the artificial intelligence future hold? One thing is certain: Artificial intelligence is changing the world, and you need to be a part of it.
What is artificial intelligence?
Artificial intelligence is the use of computer programming to create a system that is able to perform tasks like a human. AI programs can make decisions in real time, recognize speech and behavior patterns and respond to you as if they are human. But while AI is used in some of our most common everyday products and interactions, such as chatbots, self-driving cars and voice-recognition devices, the technology is still a far cry from machines that mimic and walk among humans.
What about artificial intelligence vs. machine learning? Some of the most common things you use every day involve machine learning, which is a more complex subset of AI that involves programming computers to make decisions based on past experiences – much like humans. If you use subscription services like Spotify or Netflix, which predict what you’ll like based on your past choices, or have a personal assistant device like Amazon Alexa in your home, you’ve had firsthand experience with machine learning.
Sophia, the first AI robot to receive citizenship in a country (Saudi Arabia), is the perfect example to answer the question, “What is artificial intelligence?” Hear what she has to say about how technology can make everyone’s lives better in the video below.
What are the main types of artificial intelligence?
There are four common types of artificial intelligence: purely reactive, limited memory, theory of mind and self-aware.
Purely reactive
This type of AI does not have a memory, and can only react to the immediate input it is given.
Limited memory
Limited memory machines can store data and use that data to make better decisions over time.
Theory of mind
In this phase, AI can recognize behavior and attribute emotional states to humans, and can even show concern.
Self-aware
Self-aware AI can not only recognize the emotions of humans, but can also recognize their own emotions.
While Hollywood would have you believe that self-aware robots are just around the corner, the truth is that AI is still a long way from creating robots that walk among us, looking and speaking just like humans.
Why is artificial intelligence in the future important?
The impact of artificial intelligence on society has been astounding. From the first computers, which performed basic calculations, to today’s complex machine-learning programs, like self-driving cars and smart homes, AI has made our lives easier and more efficient.
Artificial intelligence’s future impact on business can’t be underestimated, either. It used to be that only huge companies could afford to invest in artificial intelligence. Today, AI automates many common business processes, from sales prospecting to sorting résumés. Tasks that used to be time consuming may now take no time at all – while the computer calculates your sales forecast, you can busy yourself with actually selling.
By allowing you to streamline your day-to-day work, AI helps you increase your efficiencies and grow your business exponentially. You can scale your company, provide more value than your competitors and reap massive profits – but you’ll need AI to do it.
Benefits of artificial intelligence in business
So what is artificial intelligence as it relates to your business? It could be the key to substantial, long-lasting business results. The positive impact of the reactive and limited memory types of artificial intelligence can be seen in nearly every industry, and in every department of a company.
Sales
This is one of the most promising fields for AI. Customer relationship management (CRM) can take up a huge chunk of time for your sales team. But AI can automatically log activity, prioritize emails and other tasks and predict sales forecasts. It can even let you know which leads are best, based on the traits of past deals you’ve closed, and give you ideas for personalizing your sales pitch.
Customer service
Nearly everyone has used a chatbot. They’re extremely useful for answering basic customer questions, allowing you to save your resources for the more complicated issues that require human interaction. AI also lets you keep track of their likes, dislikes and ordering patterns, so you can give them the deals and discounts that will create raving fan customers.
Finance
One of the most useful skills of artificial intelligence is to analyze complex data sets much faster than any human could. Beyond automating transactions, AI can audit your finances, organize and present your records and identify trends before the human mind might catch them, helping you prevent common financial mistakes. On the customer side, AI can identify fraud and analyze consumer credit.
How can I leverage artificial intelligence in the future?
This is a fast-paced and exciting scientific field, and there are plenty of incredible developments that aren’t that far away in the artificial intelligence future. Being an early adopter of the latest AI technology is vital to staying ahead of your competition, but you need to learn how to use it to your advantage. Our complete guide to the artificial intelligence impact on business will give you the tools you need to make informed decisions about the latest technology.
We have exclusive information on the state of artificial intelligence and how it can benefit your small business. Plus, Tony provides firsthand experience on how AI has benefited him personally – and how it can go beyond business and allow your legacy to live forever. It’s time to start leveraging the impact of artificial intelligence in business to achieve the massive results you dream of.
How AI can boost your business
AI can help you solve real-world business problems right now. In this podcast, Hypergiant CEO Ben Lamm covers the practical benefits of artificial intelligence in business and how you can start putting AI to work for your company.
Will AI transform our work?
From automated HR processes and top-notch customer service to streamlined accounting, the various types of artificial intelligence already benefit businesses in amazing ways. Here’s how the future of artificial intelligence will give business owners more time and more profits.
What AI can do for your small business
Artificial intelligence isn’t just becoming more affordable – it’s becoming more in tune with the problems small businesses face. From correcting your grammar to building a website, AI can help solve your small business problems.
How you can engage and retain customers with AI
Today’s consumer has high expectations, but artificial intelligence can help you live up to them. Chatbots are one way AI can benefit your small business. They can transform how you interact with customers – and keep them coming back.
The future of work in an AI economy
When it comes to artificial intelligence, future developments will affect everything from retail to rideshares. Entrepreneur and engineer Peter Diamandis explains how you can lift up your business in today’s changing world – and make AI work for you.
How Tony Robbins will “live” forever
Tony himself has leveraged AI to continue his legacy. He’s used video and audio recordings to create an AI version of himself, and it’s helped him reach audiences around the world. This is the artificial intelligence of the future.
How to prepare for the future
The market is more unpredictable than ever. As a business owner, how can you ensure that you are the disruptor, not the disrupted? No one can predict the future, but there is one thing that successful entrepreneurs do that others don’t: prepare for it.
ARTIFICIAL INTELLIGENCE IN MEDICINE
The future of AI in medicine and other industries is bright, and incredible breakthroughs are just over the horizon.
CHALLENGES OF ARTIFICIAL INTELLIGENCE
Whether you plan to use AI to grow your business, improve efficiencies or build customer relationships, you need to know these top artificial intelligence problems.
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Frequently asked questions
What is the best example of AI?
The best example of AI may not be what you think. While robots that imitate humans, like Sophia, are being developed, AI is actually all around us in a less recognizable form. If you have an Alexa, Nest or Echo, you’re already using AI in your everyday life. Even the autocorrect feature on your phone keypad
or the ability of your navigation program to predict traffic incorporates AI.
Is Google AI?
The Google search engine does incorporate aspects of AI and machine learning in order to deliver better search results. It uses a machine learning model known as BERT to “read” the nuances of search engine questions and deliver relevant results. In 2021, Google announced the next generation of search engine AI, known as MUM, which knows 75 languages, processes visual data as well as text and is 1,000 times the size of BERT.
Who is the father of artificial intelligence?
American computer scientist John McCarthy is often credited as being the father of artificial intelligence – he coauthored the paper that coined the phrase in the 1950s. Yet before him, English mathematician, computer scientist and logician Alan Turing set the foundation with his theories of computer science and innovative Turing machine, which is considered to be one of the earliest computers. Marvin Lee Minsky, an American computer scientist who cofounded the Massachusetts Institute of Technology's AI laboratory, is also credited with pioneering discovering in the field of AI.
Is artificial intelligence a threat?
You may have heard a lot about the negative impact of artificial intelligence in the future – some of the top minds in tech, from Elon Musk to Bill Gates, have warned about the dangers of creating intelligent machines. Many others are concerned about AI taking human jobs.
Like anything else in life, artificial intelligence can have both good and bad aspects. While it may cause some jobs to become obsolete, it will also create new jobs that didn’t exist before. And while there are dangers that AI could manipulate humans or be used in negative ways, we can protect ourselves against these. For the most part, AI is going to make human life much easier and more efficient.
How can artificial intelligence benefit humans?
Artificial intelligence is already benefiting humans in many ways. It’s predicting how long our commutes will take, anticipating the questions we will ask and letting us know items we likely forgot to put on our shopping list. The impact of artificial intelligence in business has been equally beneficial. It’s allowing us to automate and streamline processes at an unprecedented level, leading to a level of efficiency never before seen. AI makes our lives easier, giving us more free time for what matters most.
How can I invest in artificial intelligence?
Investing in artificial intelligence isn’t just a far-fetched dream for small businesses anymore. There are very real ways that AI can benefit you – but you must take advantage of them. Start by asking yourself the right questions about your business’s strengths and weaknesses, and determine where you need the most help. Then investigate your options to solve your small business pain points. After all, what is artificial intelligence if not a chance to improve your business outcomes with minimal effort?