Why Is AI Important? The Key Takeaways

It’s virtually impossible to turn on the TV or radio or read a newspaper or social media post without stumbling across a discussion about AI.

Artificial intelligence has become an increasingly common talking point.

The use of AI and its growing influence in society means that everyone should take an interest in artificial intelligence.

From tech-savvy individuals who are already implementing AI solutions to those who have never heard of machine learning before, this guide provides a detailed overview of the uses of AI and an in-depth discussion of why it’s important. 

What is AI?

Before we delve deeper into the reasons why artificial intelligence has become such a pivotal development, it’s beneficial to define AI and explore exactly what it is.

The Encyclopedia Britannica defines artificial intelligence as, “the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings”. 

Artificial intelligence is essentially a form of technology, which mimics and replicates human actions, or a type of machine, which displays characteristics associated with human intelligence and human capabilities, such as problem solving. 

As AI has developed and evolved, its applications and uses have become increasingly far-reaching.

Today, AI is used widely across multiple industries and it impacts almost every element of modern life from business processes, the way we run our homes and the way we learn and train to the medical treatments we can access and the way we communicate with others.

What is the difference between AI and machine learning?

If you’ve read articles about AI, there’s a good chance that you will have come across terms like machine learning, machine learning models and deep learning.

Machine learning is a form of AI, which uses advanced computer systems to learn and adjust without the need for human intervention.

Deep learning, a method used to teach machines and computers to process complex data in a way that mimics the human brain and behavior of human beings, is used to facilitate machine learning.

Deep learning is a development of machine learning. 

In the most basic terms, AI is an umbrella term, which covers the technology as a concept. Machine learning and deep learning are subsets. 

For a handy guide to machine learning, take a look at this video:

The importance of AI: Why does AI matter?

Why is everyone talking about artificial intelligence and why does it matter to us?

There are several reasons why AI is important and why it’s beneficial to get involved in conversations about AI technologies.

Here are some key reasons why AI matters:

Promoting learning through data analysis

One of the most significant advantages of using AI technologies is promoting learning and development through data analysis.

Artificial intelligence doesn’t simply automate time-consuming, manual tasks.

It goes a lot further, using complex systems and capabilities to analyze big data, simplify data processing, collect and evaluate more data and provide individuals or organizations with the capacity to utilize vast amounts of data.

AI can perform tasks in a similar way to humans, but it offers much more in terms of volume and speed.

Humans cannot process and analyze vast amounts of data or complicated data sets in a matter of seconds.

By using innovative AI technologies based on multi-layer neural networks, it’s possible to increase quantities and delve deeper into data. 

Enhancing existing products, services and systems

Technology is advancing and improving rapidly.

There are several advantages to embracing innovation, but often, the primary reason to develop technology is to solve problems and pain points and improve outcomes by enhancing existing products, systems and services.

The addition of Siri to the iPhone is a good example.

Today, you can ask your smartphone a question and it’ll provide you with answers instantly with no need to open your browser, type search terms, read articles or spend time researching and navigating pages of links. 

Gaining a competitive advantage

Businesses, organizations and companies across the world are using AI to gain a competitive advantage.

In this day and age, it’s not easy to stand out from the crowd or persuade clients or customers to choose you.

Utilizing artificial intelligence helps businesses to improve user experience, optimize customer service and support, turn heads with unique, captivating marketing techniques, boost efficiency and develop new and improved products and services. 

Saving time and effort

AI has far-ranging capabilities and it offers different benefits for different users.

One common theme when discussing the use of artificial intelligence is saving time and effort.

Today, individuals, organizations and companies can use AI tools to speed up processes and tackle tasks faster.

Programs and tools offer natural language processing for drafting content based on human language.

They also include automated systems for generating responses, replying to questions, and smart machines that complete tasks faster than human agents or employees.

Pushing the boundaries while optimizing accuracy

Medicine is one of the most interesting fields to consider when exploring the importance of AI.

The use of cutting-edge technology, machine learning, deep learning and AI systems that utilize neural networks has contributed to major developments in treatment planning, diagnostics and training.

AI techniques, such as deep learning methods and identification and detection techniques, have brought about incredible improvements in medical imaging, for example.

Human involvement is often key when diagnosing and treating patients but deploying AI can accelerate these processes with improved accuracy. 

Making the most of data

We have access to vast amounts of data today, but it’s only helpful if you can analyze it and understand how to use it to your advantage.

Artificial intelligence AI and deep learning systems enable us to make the most of data and use it to make us more competitive and successful.

Another important benefit to think about is the accessibility of data.

In days gone by, organizations would need to rely upon the expertise of data scientists or employees with a degree in computer science to decipher data sets and use big data analytics.

Now, AI gives every company or entity the ability to benefit from accessing new data and analyzing data sets. 

What are the downsides?

There is a huge amount of debate about the use of AI.

Discussions and arguments focus on the potential loss of human control, the impact of technological advances on human workforces, data protection and invasion on human privacy, and AI ethics.

The truth of the matter is that AI may always be a divisive and contentious issue.

Some people are concerned about the future and the growing dominance of technology while others are excited about the possibilities and opportunities it unlocks. 

How is AI used?

Artificial intelligence is used across multiple industries and sectors.

It impacts us on a daily basis, even if we’re not aware that we’re using it.

Here are some of the most significant AI applications:

Health care

Health care is one of the most rapidly-evolving fields due to advances in scientific research and technology.

AI is used widely in healthcare and medicine.

Artificial intelligence in healthcare grew by 167% between 2019 and 2021.

Examples of applications include:

• Personalized treatment planning using data science
• Disease detection and diagnosis
• Automated processes to optimize efficiency, for example, in healthcare administration
• Providing access to resources, advice and help via personal health assistants
• Drug development
• Improving training to enhance patient safety
• Reducing expenses
• AI-assisted surgery using robotics
• Quick and easy communication with facilities and providers using virtual nursing assistants and chatbots

Marketing

AI plays an increasingly integral role in sales and marketing, opening doors for brands and marketing teams.

Examples of how AI can benefit marketers include:

• Automating marketing processes to increase efficiency and reduce pressure on human resources
• Enhancing SEO research to improve search rankings
• Improving data analysis and reporting through predictive analytics and campaign tracking
• Generating content quickly using natural language processing
• Saving time on tasks, such as finding images and deciphering social media data
• Improving customer engagement and communication
• Enhancing the quality and impact of marketing content

AI adoption has increased in recent years.

Statistics show that 80%of industry leaders used AI as part of their marketing efforts in 2022.

The primary focus for 50% of marketers was ad targeting. 

Financial services and banking

Banks and financial institutions utilize machine learning and AI systems for several reasons, including:

• Fraud detection to detect patterns of suspicious behavior, identify abnormalities and reduce the risk of financial losses. Fraud detection plays a crucial part in protecting customers and enhancing the company’s reputation. 
• Providing easy, quick access to financial advisers via virtual applications and platforms while ensuring watertight data protection
• Determining accurate credit scores and ratings quickly
• Automating data management and data analysis tasks
• Predicting market trends
• Identifying promising investment opportunities
• Enhancing customer experience
• Speeding up basic operations like claims processing and applications for financial products and services

Retail

AI offers benefits for consumers, as well as retailers.

Customers can take advantage of new features like virtual tours and the opportunity to see items in their home or try before they buy.

Shop owners and brands can benefit from smooth, seamless, efficient inventory tracking, 24/7 customer support options and simple stock management techniques. 

Training and education

The way we learn has changed. Although traditional techniques like reading still play a critical role, most students and pupils now utilize technology, including AI, to hone their skills and discover new things.

Medical students can learn to carry out surgical procedures without any risk to patients while school pupils can get advice from virtual teachers or mentors. 

Manufacturing

AI in manufacturing increases labor productivity, reduces stress on human resources and speeds up the process of fabricating products. Manufacturers can also use AI to:

• Optimize efficiency by combining human involvement with robots and machinery (known as cobots)
• Automate time-consuming, repetitive tasks
• Creating machines and using machine learning to replicate human behavior with the advantage of working quicker and boosting output
• Predictive maintenance to prolong lifespans, improve safety and reduce running and maintenance costs
• Lower expenses by reducing labor costs and running costs associated with human workforces, for example, utilities and training. Adjusting business models can help you to save money while increasing productivity.
• Improving existing products and discovering new possibilities and inventions: self-driving cars, also known as autonomous vehicles are an excellent example of how AI could revolutionize manufacturing. Autonomous vehicles are one of the most exciting and talked-about propositions. 

How to make the most of AI tools

Here are some best practice guidelines to help you make the most of AI:

• Outline your primary business objectives: what are your targets and what particular outcome or outcomes are you looking to achieve?
• Identify tools that are relevant to your organization and your business function, growth and development goals
• Learn how to use each tool by accessing tutorials or enlisting the help of experts
• Try to gain a basic understanding of AI: read about machine learning, machine learning algorithms, AI algorithms, deep learning, smart technologies and how AI can help companies and organizations to capitalize on the combination of technology and human intelligence
• Make use of demos and free trials
• Learn from others: what are your competitors doing and how are market or industry leaders deploying AI to get ahead?

A real-life example: Optimizing marketing with Optimo AI solutions

Optimo is an AI-powered toolkit, which provides marketers with the ability to complete time-consuming tasks in seconds.

With Optimo’s innovative tools, deploying AI offers the following capabilities for marketing teams and businesses looking to gain an advantage:

• Instagram captions
• Blog post titles
• Keyword cluster
• Blog post brief
• Facebook Ads
• Proofreading
• Statistics generator
• Link building ideas
• Video script
• Email responses and subject line generator

Next steps

It is clear that AI is hugely important and its influence is growing year by year.

There are already incredible opportunities to benefit from AI as a whole and subsections like machine learning to perform tasks quickly, accurately and safely, boost efficiency, reduce costs, improve existing products and services and develop new ideas.

The future looks bright, with new AI systems and tools becoming available all the time, but for now, why not focus on the methods, tools and technologies you can use to drive your business forward or gain an advantage in your field?

To find out more about Optimo and try it for free, visit https://askoptimo.com/#tools.