Is AI applicable to all Business Problems
In a few years "every major decision, business and personal, will be made with the assistance of cognitive technologies“, predicts IBM Watson's UK Director of Paul Ryan. All business problems, require decisions based on information, experience and predictions. So yes, AI can be applied everywhere.
Hi, AI is something that can be applied largely to businesses problems where extreme amount of data is available. Some business areas like agriculture, logistics, transportation, infrastructure, health, energry, manufacturing, education, operations, ecommerce, fashion, retail, real estate, finance and marketing are the critical areas where AI can be applied strongly. These sectors have unlimited amount of data where AI can be applied significantly.
As usual, solution to a problem will largely depend on the problem itself. AI is expected to be applicable to new and unusual situations and problems, while for routine and repetitive situations with known necessary modifications it would be more efficient to use traditional machine learning techniques and automatization methods.
It could be challenging to just set up rules for machines, algorithms could help. Search engines do not have specific rules for ads, machine learning check user behaviors and act accordingly. Having data already categorized could be useful too. AI could create relationships between many variables even when humans couldn't and this could be applied to different area. Indeed it is an investment at the very beginning, but this could save time and cost at a later stage. For example AI is beneficial for Financial, Sales, Logistics, HR, R&D and Marketing.