Artificial intelligence is one of the most widely used technologies of the 21st century. Corporates and enterprises all over the world are looking forward to artificial intelligence, machine learning, and deep learning to optimize their operations. Read this article for a sneak peek into the top-most artificial intelligence tools.
Artificial intelligence (AI) has entered the mainstream in the last few years, with worldwide adoption and buzz around the technology. A November 2018 study by O’Reilly states that over 47% of companies have embedded AI capabilities in their business processes. This is a significant spike as compared to a 20% response in 2017. This identifies the room for growth AI has in the enterprise sector.
Automation through artificial intelligence holds the capability to improve various company operations significantly. With advances in fields like machine learning-based automation, computer vision, and deep learning, companies are finding new ways to apply AI to their operations.
Today, artificial intelligence software can be used in enterprises for a variety of applications, including customer resource management, product personalization, better customer service, business intelligence, and analytics. Moreover, they also help speed up processes that were previously done manually through smart automation, image processing, and text parsing.
In this article, we will go through the top artificial intelligence tools, software, and platforms in 2019.
As a technology, artificial intelligence has advanced enough to facilitate improvements that offer visible enhancements to company processes. This means that automated processes can achieve as much accuracy as human workers. AI also can accomplish this at a much higher speed and cheaper cost than employing manual labor.
With the rise of AI applications for corporate use, many big players, such as Google, Microsoft, Amazon Web Services, Salesforce, and SAS have begun offering artificial intelligence solutions that solve business problems through AI. With companies of this scale actively participating in the market, the AI space is quickly developing and advancing.
What is AI?
To understand why artificial intelligence offers a sizeable benefit for companies, we must first thoroughly understand what AI is. At its base, AI is a computer program that imitates certain paradigms of human intelligence. What this means is that AI can conduct tasks that were previously only reserved for humans, such as recognizing images or finding patterns in data.
Law, for example, is one of the largest fields where AI is gaining quick adoption. Typically, a lawyer is not only required to have a working knowledge of landmark cases regarding certain laws but also to interpret laws by utilizing these cases. This is an integral part of fighting a case, and previously took a lot of time and resources on the lawyer’s part.
Today, with the progress of natural language processing, artificial intelligence software can execute several processes that take place in a typical legal setting. These include legal reasoning, evidential reasoning, argumentation and decision-making, data mining, legal task automation, risk assessment, and e-discovery.
This is just a small fraction of what specialized AI technology can achieve. Mainly, machine learning (ML), a subset of AI, is seeing widespread adoption among companies. Machine learning is the process by which programs can learn from past processes. This allows machine learning algorithms to improve upon past versions of itself. Moreover, it can also change dynamically with new data, as opposed to a static program that cannot change after it is deployed.
How is AI Changing the Enterprise Landscape?
The rise of accessible AI solutions has transformed the enterprise landscape. This is mainly because artificial intelligence and machine learning solutions have begun to take the place of business intelligence operations. Business intelligence is the practice of utilizing software and technologies to collect, analyze, and present information systems. It holds the potential to improve the bottom line in the operation sector.
With every company now making data collection a priority through various digital mediums, there is a need to analyze much higher volumes of data. Commonly referred to as big data, these collected statistics can provide a more in-depth look into consumer expectations from a product or service, along with potential improvements.
However, manual analysis has quickly become more expensive and less scalable than AI-based solutions. Enterprise-grade algorithms can ingest data on the scale of petabytes (1 petabyte =1 million gigabytes) and provide actionable intelligence or insights.
For example, let’s consider a company that offers products for sale to the customer through an e-commerce portal. Collecting data from the website will allow the company to observe users’ actions, such as clicks, hovers, or scrolls. This data is then fed into an AI algorithm, which analyzes the data and provides insights.
In such a case, if the data shows that most users are scrolling down to click on an object, the algorithm will suggest moving the object to top. This improves the user experience and makes for a more engaging product overall.
When looking at this example, it becomes clear why AI can change the enterprise landscape. Keeping this in mind, let's look at some artificial intelligence software, artificial intelligence tools, and artificial intelligence platforms commonly used by enterprises.
Top Artificial Intelligence Tools and Software
AI tools are commonly used by organizations for a few primary reasons. One of the biggest is intelligent automation, which reduces stress on company resources. Others include business intelligence, the practice of deriving insights, natural language processing, customer engagement, and visualization.
4. Periscope Data
Periscope is a data visualization and business intelligence platform that makes it easier for companies to view their data. Periscope utilizes artificial intelligence to collect and analyze data from multiple sources. The user can then choose from a group of charts and visualizations to see the collected data and derived insights. By doing so, the product offers companies an end-to-end solution for visualizing data to derive insights from it.
Sisense places its focus on providing business intelligence solutions for enterprises. It is a cloud-based, self-service application programming interface (API) that can be accessed from anywhere and provides valuable insights. Sisense emphasizes providing a solution for business intelligence problems as quickly as possible, featuring many options for visualization and analytics.