AI and its Uses in Business
AI is a growing field, and nearly 63% predict AI investment to increase over the next three years. Because of this large growth, it is important to have a firm understanding of what AI is. By definition, it is the ability of a computer/ machine to learn from previous experiences like written prompts or math problems. Some examples of AI models include self-driving cars and dynamic content removal on social media.
There are three types of AI to take note of; machine learning, deep learning, and expert systems. All three understand and respond to previous experiences, data, and prompts. Furthermore, the four categories of AI applications are; generative AI, predictive analysis, natural language processing, and computer vision.
Businesses are quickly adapting AI to streamline their models. For example, businesses can use AI to do things like derive information from images/ videos (computer vision). Additionally, businesses are using AI to complete risk modeling and analytics and customer service analytics. These uses are more measurable benefits for businesses. AI can result in improved monitoring, greater speed, and enhanced talent management.
Putting this all together, Lazarus AI and RikAI are two examples of AI that are beneficial to businesses through Advanced Document Understanding. Both work with no training and extract data from any type of document. Further, they can contextualize data and information to find answers.
