What is artificial intelligence?
Artificial intelligence (AI) represents a branch of computer science. An algorithm imitates the cognitive abilities of humans by recognising, classifying and learning information from input data. Artificial intelligence can be based on programmed processes or generated by machine learning.
How does AI work?
In the field of machine learning—i.e., where artificial intelligence rather than human intelligence, i.e., the algorithms themselves, recognises whether a decision is right or wrong—there has been significant progress in recent years. This drive has been made possible due to the availability of large volumes of data (big data) and significant computational resources as key components for carrying out complex calculations for machine learning.
Algorithms can use machine learning techniques to perform independent tasks iteratively. The machine is guided by the set quality parameters and the content of the data. In contrast to conventional algorithms, solutions are not modelled; instead, the computers develop their artificial intelligence independently and learn to recognise data structures. In relation to Industry 4.0, for example, robots can use AI to learn how to grip a certain object or move it efficiently from A to B.
This deep learning is achieved through trial and error. The robots are told which technology, system or tool they should use to transport the object.
What needs to be considered?
One of the biggest challenges of artificial intelligence is the potentially high development and implementation cost. Another hurdle is the lack of AI expertise among employees, as are legal, technical, and, last but not least, ethical considerations.
Who is liable for damage caused by AI technologies? If a self-driving vehicle has an accident, for example, who should settle the claim: the driver, the vehicle owner, the car manufacturer or the software developer? What happens if AI is misused? How can we prevent jobs from being wrongly awarded due to artificial intelligence because the AI has filtered out information without the applicants’ knowledge? There is also the issue of communication transparency, as customers, business partners, applicants, etc., may not know whether they are communicating with AI or a human.
Advantages of AI.
Cost-cutting potential. Automation can help avoid human error, maintain machines on time, save energy, and react in real-time to unforeseen events (transport of goods, stock market, society), thus avoiding unnecessary costs and reducing expenditure.
Detailed and completely new business insights AI can analyse a variety of data from different sources to improve manufacturing performance, sales, and competitiveness. Predictive analytics can be used to make forecasts and future-proof decisions.
Customer satisfaction and optimised sales channels AI can be used to expand available communication channels and improve the overall customer experience. From automated customer feedback analyses to automatic email responses to FAQs – artificial intelligence can improve customer satisfaction. Machines can even be used to count customers of visitors to stadiums or airports using video streams to channel the flow of visitors and offer warnings for a smoother or safer customer experience.
Creating future-proof workplaces Although AI can certainly trigger job losses, particularly repetitive routine roles, artificial intelligence will also create new, future-oriented jobs. These new opportunities will be primarily aimed at AI-skilled individuals, so companies should provide appropriate training and further education opportunities to stay (internationally) competitive.
