Artificial intelligence (AI technology) is a rapidly growing industry of today’s generation. It’s becoming one of the hottest tech concepts on the planet. Many top companies are adding AI capabilities to entertainment services, education, sales, communications, medicine, and more, and applying it to everything to make their jobs easier and simpler. So is AI perfectly capitalized?
The answer is simple: yes.
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Importance of Capitalizing AI today
Almost all companies believe that using better quality AI equals more money. But that’s not the case, what matters is how you use the given resources for AI and what strategies you take to monetize AI. Companies that understand how to fully monetize it will be successful. The sooner you monetize the better, here are the reasons why you must capitalize now:
Analyze the Market
AI can collect all the information about the user and recommend advertisements for the products that the user is most interested in. AI can know what the user is most interested in because it has all the information about the user and can analyze the given information to determine what the user is interested in. Just like Amazon, it only advertises the product you last viewed.
Data Security
Deep learning helps identify fraud and fraudulent transactions. With this, companies can ensure that cash flows smoothly into and out of the system. This is most important for companies dealing with really high-security information.
Reduce Manpower
AI can single-handedly accomplish a plethora of tasks, alleviating the pressure on hired workers. Chatbots are one such example. Chatbots will help a company’s customer service department handle many tasks without a single worker’s request. As a result, workers can focus on other tasks and use their creativity to improve other tasks that require the most human involvement.
AI Is The Future
According to an MIT survey, about 90 percent of companies have already invested in AI, but less than 40 percent have been able to figure out how to properly implement AI in their industry and be successful. As I said above, AI is just a tool that should be used properly in order to benefit from it. Everything has risks, and unless you take risks, you can’t grow. Since the Internet of Things (IoT) is expected to grow exponentially over the next 5 years, with 7 billion connected devices according to IoT, which will add more in a few years, it is safe to say that you have to take advantage of AI. The sooner, the better for you and your company.
How to Capitalize on Artificial Intelligence
If you are a company considering whether you have to monetize AI and don’t know how to do it, PISIQ has researched and obtained the most valuable information for your company.
There are two ways, direct capitalization, and indirect capitalization.
Direct Capitalization
This capitalization approach requires that AI itself be offered to customers as a service. This requires highly advanced functionality and minimal investment. International Business Machines Corporation (IBM) and Watson are among the most well-known of all AIaaS providers. Watson is an artificial intelligence system capable of answering questions posed in natural language within seconds. Deep learning is a function of artificial intelligence that helps to read human language without human supervision. It was developed by IBM’s DeepQA project and is named after IBM founder and first CEO Thomas J. Watson. IBM Watson Health is an organization that helps solve the most serious health challenges through data, analytics, and artificial intelligence in the healthcare industry. It helps physicians at the Sloan Kettering Cancer Research Center and the Cleveland Clinic make better patient treatment decisions from hundreds of thousands of variables. They created a tool that used neuro-linguistic processing (NLP) to summarize each patient’s electronic health records, then searched the database to provide the perfect treatment recommendation. Since running taxes is a painful and time-consuming job that even H&R firms can hold back, a major tax planning firm is enlisting the help of IBM Watson to make their job smoother. IBM Watson will use natural language processing to parse tax documents and correlate reports back to the 74,000-page federal tax code. These are some examples of companies that follow direct capitalization.
Indirect Capitalization
With indirect capitalization, you can use built-in AI technology to provide your value, but AI is not the only source of that value. For example, the YouTube recommendation algorithm leverages machine learning techniques to recommend videos to users as people subscribe to the channel and keep watching the channel video as it gets recommended to them. Amazon also uses this feature by recommending products that are similar to the product a user last viewed. Whether you’re selling a product or providing a service to your customers, adding artificial intelligence to it has a lot of potentials to be profitable by making the product you’re selling useful and engaging to your customers. This is just one of many factors driving customers to subscribe to these services.
Is Artificial Intelligence Capitalized After All
The answer is yes, but it’s not being capitalized as it should, nor reaching its true potential, as many companies are just jumping in and testing it with their research teams and open-source AI code. We at PISIQ have released a lot of open source code for AI integration, while many others are designed for specific organizations and are kept secret. Apart from R&D companies like ours, not many technology-related companies are fully involved in AI.
Summary
The answer is simple, yes, many companies are leveraging AI, such as IBM, Microsoft, Apple, Google, Facebook, and Amazon. However, in order to dominate the current market, these companies will have to leverage artificial intelligence (AI) at scale. There are many companies that have yet to monetize artificial intelligence (AI). IBM, Google, Facebook, and other top companies are constantly introducing new cutting-edge technologies, and there is no doubt that these companies will catch up with the AI segment to prove the future of their business operations
