AI for Businesses
AI stands for artificial intelligence, aiming to mimic human-like intelligence in machines. Since the invention of computers, we have been in a race to involve machines to perform, assist, or automate our day-to-day activities. Since then, we have come a long way, and we use computer programs almost everywhere. This has on one hand contributed to adding comfort, quality, and assistance to performing our personal as well as business activities, whereas on the other end, the race to involve computers to mimic human intelligence has reached a stage, where we are preparing ourselves to start testing the machine for human mimicked response and compare its quality of artificial response against human decision.
Machines’ ability to mimic human response is developed by training. For an action, behavior, or situation, all the possible human response is data, and machines can be trained to choose the artificial response. As the machine trains, its artificial response accuracy gets better over time, and it becomes a model when it meets the specified goal. There are pre-trained models publicly available to use versus developing your own private model. On one hand, exposing data on public models has its own risk, whereas on the other hand, developing a private model will need an investment of time and money.
Businesses have been the biggest beneficiaries of using computers, programs, and automation to save time and cost in their operations as well as quality of services. Machines have helped businesses save costs against process completion or product readiness, and spend that savings towards improving customer satisfaction and expanding their business. Today businesses are exploring the use of AI to add more effectiveness in managing enterprise systems and modernize their enterprise applications. Public models and a variety of AI tools are available to support Human Capital, Finance, Customer Relationship/Marketing functions and other Enterprise applications for a business, however, a bigger question is do we know what are the pros and cons of using AI?
Businesses’ need for automated response use cases and data privacy requirements varies by size, industry, nature of business, and so on. And, a business would like to assess AI user case requirements against key AI decision-making metrics namely: Digital Strategy, Business Value, Sustainability, Data Privacy & Compliance, and Cyber Security.
Whether you belong to the Public Sector or the Private sector; whether you represent a Small and medium Business or any enterprise, we are ready to help with your business modernization journey with AI.
At P&F Solutions, we are partnering with key Infrastructure leaders to help our customers across the industry transform their businesses. Please contact us for a consultation at contact@pafsolutions.com
Authors:
Praveen Singh is a Digital transformation leader and the Founder of P&F Solutions.
Pratibha Pandey is a MIS Senior at Rutgers University and an intern at P&F Solutions