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Are you intimidated by the words “artificial intelligence”? Maybe you’re thinking of Internet algorithms spying on you — or robot overlords from movies? However, if you’re a smaller business, AI can be good news and make you a master, not a slave.
Artificial Intelligence (AI), Machine Learning and Deep Learning have become mainstream buzzwords. They appear in media stories about self-driving cars, advanced medical diagnosis and military targeting. You’ll also come across stories about companies or organisations using Internet algorithms to bombard you with adverts or attempt to influence your politics.
If you’re a small business, AI can seem like a world apart. However, this technology can be simple to understand, practical to use and make a massive difference to your company every day.
Although it makes the headlines regularly, AI isn’t ‘new’. It’s been around since the 1950s when a bunch of researchers starting using simple computers to solve problems and learn how to win at draughts (or ‘checkers’ as Americans like to call it).
It’s the availability of vast quantities of data, storage and computational power — alongside plenty of smart ideas and investment — that’s propelled AI onto the big stage today.
However, AI is not as complicated as it might seem. It’s not just for Google, Amazon and Netflix. Smaller companies of less than 30 people and with modest revenues can take advantage — without needing a data scientist on board.
Predictive Analytics: This can be useful in sales and marketing. AI can look at the profiles of your customers and analyse their behaviours over time. It may predict which product an existing customer is likely to want next
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