Glossary

Artificial Intelligence

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What is Artificial Intelligence?

Artificial intelligence, commonly referred to as AI, denotes the theoretical and practical study of computer systems designed to replicate and perform tasks that are typically associated with human intelligence. Such tasks include speech recognition, decision-making, and pattern identification, among others. AI is a broad term that encompasses various technologies, including machine learning, deep learning, and natural language processing (NLP).

As businesses continue to evolve, Artificial Intelligence (AI) is becoming an increasingly crucial component. It has now been seamlessly integrated into numerous applications, enabling features such as recommendations, next-best actions, and natural language generation (NLG)-based analytics, to name a few. However, using AI effectively requires a clear focus on applying intelligent technologies to address complex operational challenges and deliver positive outcomes for the organization.

What are the business benefits of Artificial Intelligence?

  • Minimize human error and improve processes and workflows to save time and costs.

  • Automate repetitive tasks and processes to improve productivity.

  • Accelerate decision-making by enabling quick data analysis and generating insights in real-time.

  • Improve customer service by addressing customer queries faster with digital assistants and chatbots.

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