Narrow AI is the future of business process helping to sort functions and deliver results. Read on find out the applications and case study.
AI is the buzzword of the technological world enabling us to identify areas of improvement and suggesting advancement. In recent years AI is making a mark in the industry owing to its options and choices to enable decision-making. In the past years every sector has experienced application of AI in major business functions. Considering trends in AI, the application of the tech has seen rise after the pandemic. In the prediction of IDC the spending on AI technologies would increase to $97.9 billion by 2023. There is a focus on process automation and virtual presence of business considering competition in the markets. Intelligence trends indicate collaboration of AI with cloud, solutions for IT services, operations automation and so forth. Considering Snap-on a leader in transport,the company has deployed AI in its operations. These perspectives can be well-noticed in satisfactory results in the business functions of the company.
Narrow AI vs General AI
| Narrow AI | General AI |
| Knowledge is less than human intelligence. | There is a similarity to human intelligence |
| Known as weak AI | Known as full or strong AI |
| Lacks awareness and analytical abilities | Has similar abilities as humans |
| Cannot solve unfamiliar problems | Can solve unfamiliar problems |
| Examples are IBM Watson, Alpha Go and Google Assistant | The markets are yet to develop and demand investment |
Application of AI
Need for computers in business
COMPUTERS HAVE MADE THEIR MARK IN EVERY INDUSTRY IN TODAY’S SCENARIO HELPING TO ACHIEVE EFFICIENCY IN BUSINESS.These aspects are the highlight for success of the corporates in the growing competition. In these circumstances offices have underlined the base for marking their customers and defining a foundation for business. Moreover, in the dynamic markets there is a need for analysis of product and services enabling business to provide customer service. In these situations there is a need for various platforms ensuring customer satisfaction and tapping new markets.
A COMPREHENSIVE CASE STUDY
In business operations, narrow AI helps to tap prospects identifying their need and retaining customers.Considering the case of Apple, the company had to face failures in the initial stages owing to creating market awareness. The stage of product development was the key to tap markets and investors. In the later stages, considering AI, the company was able to tap markets and develop its products accordingly.
In the case of Amazon, being an e-commerce company, the categories of products with the keywords have helped in keeping the customer base intact. These aspects have been noticed in the sales figures and other factual information.
Marketing aspect is the foundation for business success to define a brand and establish a customer base. Considering corporate and individual, there are criterias defining selling strategies. In these circumstances the approaches are different and the AI may vary depending on the sectors being served. Considering these approaches AI has to be designed according to the markets being served and products being offered.
