AI short for Artificial Intelligence is simply composed of 2 words Artificial and Intelligence, where Artificial defines something "man-made," and intelligence defines "thinking power", therefore AI simply means "a thinking power which is man-made." In addition if we talk about the different levels of AI there are many, let us give you brief introduction to them:
Narrow AI: A AI is said to be narrow when the machine can perform a particular task better than a human. The current research of AI is here now
General AI: An AI or artificial intelligence reaches the general state when it can perform any intellectual task with the same accuracy level as an individual would
Strong AI: An AI which is strong when it can beat humans in multiple tasks
Nowadays, AI is used in the majority of industries, giving a technological edge to all companies integrating AI at scale. AI has the potential to create about 600 billions of dollars of value in retail, bring 50% more incremental value in banking when compared with other analytics techniques, according to McKinsey. In transport as well as logistic, the potential revenue jump is 89% more.
In conclusion, if a company or organisation uses AI for its marketing team, it can actually automate mundane as well as repetitive tasks, allowing the sales representative to concentrate on tasks such as lead nurturing, relationship building, etc. A company name Gong actually provides a conversation intelligence service. Each and every time a Sales Representative makes a call, the machine records transcribes as well as analyzes the chat. The VP can also use AI analytics and recommendation in order to formulate a successful winning strategy.
In a nutshell, AI provides a cutting-edge technology to actually deal with complex data which is absolutely impossible to handle by a human being. AI actually automates redundant jobs, thus further allowing a worker to concentrate on the high level, value-added tasks. Moreover, when AI is implemented at scale, it results in cost reduction and revenue increase.
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