What Does Artificial Intelligence Mean For Your Business?

Revolutionize Your Business With AI

what does AI mean for your business

Artificial Intelligence (AI) is a term on everyone’s lips these days. But it’s not just a buzzword to attract investors and new clients. It’s a transformative technology that can revolutionize your business. But what exactly is AI, and how can it transform your business? Let’s dive in.

What is Artificial Intelligence?

Artificial Intelligence consists of two words: artificial and intelligence. Let’s start with intelligence. According to Wikipedia, intelligence is the capability of perceiving or inferring information, retaining it in the form of knowledge, and applying it towards adaptive behavior within an environment or context. It has three components: sensing, understanding, and acting.

Sensing is about capturing data and understanding what’s going on around us. Retaining knowledge is an abstraction of the data we are getting, a higher level of data. Adaptive behavior means making decisions and putting them into practice that allow us to perform better the next time we face a particular situation.

Now, let’s define artificial. In general, artificial means human-made. But this definition doesn’t give us any intuition of what to do with that information about intelligence. A term that I prefer instead of artificial intelligence is machine intelligence. A machine is a device designed to accelerate a process. So, machine intelligence is a device that will allow us to expedite the process of sensing information, abstracting it into knowledge, and acting better every day.

What does AI mean for your business?

AI can transform your business by enhancing the three parts of intelligence: sensing, abstracting, and acting.

Sensing means capturing feedback from your customers and the market. You are constantly capturing data, sensing as much data as possible. This data is used to get feedback about how well you are performing in the world.

Abstracting information means eliminating the noise, extracting the knowledge from the data, and discarding what is not useful. You can use this knowledge the next time you face the same situation, making better decisions based on the insights you’ve gained.

Adaptive behaviors that improve over time mean that every time a situation arises, you react better based on the knowledge you’ve gained rather than your biased perception of your business.

Are you an AI-based company?

If you are a company that is getting information, reacting in better ways every day, and evolving in the ways you approach your market, congratulations, you are an intelligent company. If you have systems that allow you to accelerate this process, then you can say you’re an AI-based company.

If you’re not doing any of these, you need to contact us at NILG.AI as soon as possible so we can change that reality. We can help you understand and implement AI in your business, transforming how you operate and compete in your market, so book a meeting with us today.

 

Like this story?

Subscribe to Our Newsletter

Special offers, latest news and quality content in your inbox once per month.

Signup single post

Consent(Required)
This field is for validation purposes and should be left unchanged.

Recommended Articles

Article
Link to Leaders Awarded NILG.AI Startup of the Month

NILG.AI is Startup of the Month Link to Leaders awarded NILG.AI the Startup of the Month (check news). Beta-i nominated us after winning two of their Open Innovation challenges: VOXPOP Urban Mobility Initiatives and Re-Source. AI with Geospatial Data At VOXPOP, NILG.AI built an AI-based mobility index for wheelchair users for the municipality of Lisbon […]

Read More
Article
Can Machine Learning Revolutionize Your Business?

Today, the buzz around machine learning (ML) is louder than ever. But what is it exactly, and more importantly, can it revolutionize your business? In essence, ML is a technology that empowers machines to learn from data, improve over time, and make predictive decisions. It has the potential to redefine how businesses operate. In this […]

Read More
Article
Can ‘Old but Gold’ Predictions Minimize AI Costs?

There’s a common pattern in artificial intelligence (AI) where large corporations build massive infrastructures to support their AI use cases. The goal is to make quick predictions and constantly update with new data to scale up your infrastructure. However, this approach often overlooks the trade-off between infrastructure cost and the size of the opportunity that […]

Read More