2. Use of AI in Business
BENEFITS OF DATA FOR BUSINESS
The importance of big data does not revolve around how much data a company has but how a company utilizes the collected data.
Being able to analyse and predict market and customer behavior with Big Data is a new paradigm shift for SMEs. When it is implemented correctly, it can yield increased flexibility, productivity, responsiveness, anticipation and ability to meet customer need through capturing blind spots and making better decisions.
Detecting Fraud
Area Code Detection Out of Habit detection Falsifying Credentials Facial Recognition Security Threat analysis
Sales & Customer Service
Answering basic questions Correct redirecting
Automated marketing Upselling
Specialised Issue solving is faster Reduce time on phone
Autoresponders and contacts
Logistics – warehouse management
User Data Abstraction
Automate meetings
Product Failure Predictions
Website Lead success
Potential Product suggestion
Failure Prediction
Machinery repair cycles
Nonoptimal production
Customer Patterns
Mass Monitoring
Production Output Worker Health
Customer Service Speed
Acquisition Rates
Regulation
Built in law books Auto law updates
Monitoring made easy
Smart Agriculture
Climate conditions
Soil health
Plant Health
Smart Supply Chains
Diagnostics – factory equipment
JIT Ordering
In-transit visibility
Customer data
Automating price plans
Energy
Smart Metering
Smart Grid
Smart Transport
E-plates
Weather monitoring Congestion / smart lights Engine health
Driver health
Challenges for FUTURE DATA TECHNOLOGIES
- Efficient Teaching + Efficient Learning
- Humans can learn from very few examples
- Machines (in most cases) need thousands/millions of examples
- High accuracy in complex pattern matching tasks is difficult
- Specialised domain expertise needed
- Privacy & Security
- Heterogeneity: different sensors, datasets etc, how do they relate to each other
THE NEXT BIG THING:
AR v VR
AR: AUGMENTED REALITY
- Augmented reality takes our current reality and adds something to it. It does not move us elsewhere
- It simply “augments” our current state of presence, often with clear visors- snapchat filters, Pokemon Go, Google glasses
VR: VIRTUAL REALITY
- Virtual reality is able to transpose the user. In other words, bring us someplace else. Through closed visors or goggles, VR blocks out the room and puts our presence elsewhere – we’re talking about those boxy, closed headsets with high resolution displays, lenses and head-tracking sensors
- They are designed to visually immerse the wearer in 360- degree videos and computer-generated animation with 3D audio and vibrating or rumbling accessories and controllers to enhance the effect
For the things we have to learn before we can do them,” wrote Aristotle, “we learn by doing them.”
Aristotle, Nichomachean Ethics: Book II, 1103a.33
AR, VR & LEARNING
- Since 350BC, and probably long before, humankind has recognised the value – and potential contradiction – in “learning by doing”.
- More recently, though, the concept described in Aristotle’s Nicomachean Ethics has been bolstered by further scientific evidence.
- In 2015, a University of Chicago study found that students who physically experience scientific concepts, such as the angular momentum acting on a bicycle wheel spinning on an axel that they’re holding, understand them more deeply and also achieve significantly improved scores in
- Some organisations and businesses have acknowledged the same underlying principle for a long time. In the aviation industry, for example, flight simulators have been used to train pilots to fly more complicated aircraft for
- The benefits in terms of safety, cost and learning are obvious, but the characteristics of aviation gave it an advantage that many other industries and many other types of learning haven’t been able to enjoy- until now.
GROWTH OF VR
- Heralded as the most significant technological innovation since the smartphone, virtual reality is poised to transform our very notions of life and
- Though this tech is still in its infancy, to those on the inside, it is the
- VR will change how we work, how we experience entertainment, how we feel pleasure and other emotions, how we see ourselves, and most importantly, how we relate to each other in the real world.
But VR isn’t simply a new form of media; it sweeps away the barriers of all previous forms. Reading something on paper, hearing a voicemail, and even watching a YouTube video are all enjoyable, yet they’re all limited. Each is a representation of the real thing, but it doesn’t actually feel like the real thing at all
VR has grown from that chunky black box into the biggest technological revolution since the smart Phone.
So far, VR has been dominated by PC accessories – the HTC Vive and Facebook-owned Oculus Rift – which have been in tens of thousands of gamers’ houses for six months and Samsung’s £80 Gear VR headsets which are powered by Galaxy phones.
USES FOR AR NOW
- Remote assistance
- On the job training
- Remote collaborations
- Computer assisted tasks
- Product maintenance
- Knowledge sharing – recording historical task for training
- Sales – design
- Virtual tours
- Point of view training
- Gaming