DIGITAL ASSIGNMENT – 1

ENTREPRENEURSHIP

BMT 6027

SUBMITTED TO

PROF. BHANU SREE REDDY

VITBS

SUBMITTED BY

SWETHA.S

18MBA0018
 ARTIFICIAL INTELLIGENCE
Artificial intelligence (AI) is the ability of a computer program or a machine to
think and learn. It is also a field of study which tries to make computers "smart".
They work on their own without being encoded with commands. John
McCarthy came up with the name "artificial intelligence" in 1955.

In general use, the term "artificial intelligence" means a machine which mimics
human cognition. At least some of the things we associate with other minds, such
as learning and problem solving can be done by computers, though not in the
same way as we do.

An ideal (perfect) intelligent machine is a flexible agent which perceives its

environment and takes actions to maximize its chance of success at some goal or
objective. As machines become increasingly capable, mental facilities once
thought to require intelligence are removed from the definition. For
example, optical character recognition is no longer perceived as an exemplar of
"artificial intelligence": it is just a routine technology.

At present we use the term AI for successfully understanding human

speech, competing at a high level in strategic game systems (such
as Chess and Go), self-driving cars, and interpreting complex data. Some people
also consider AI a danger to humanity if it continues to progress at its current
pace.

An extreme goal of AI research is to create computer programs that can learn,

solve problems, and think logically. In practice, however, most applications have
picked on problems which computers can do well. Searching data bases and doing
calculations are things computers do better than people. On the other hand,
"perceiving its environment" in any real sense is way beyond present-day
computing.
AI involves many different fields like computer
science, mathematics, linguistics, psychology, neuroscience, and philosophy.
Eventually researchers hope to create a "general artificial intelligence" which can
solve many problems instead of focusing on just one. Researchers are also trying
to create creative and emotional AI which can possibly empathize or create art.
Many approaches and tools have been tried.

BUSINESS IDEA AND PLANS FOR AI:

1. AI-Integrated Customer Support Solutions

Automated chat systems allow small businesses to scale their customer service
efforts and free up resources required for more complex customer interactions.

In addition to answering increasingly specific customer questions using a

database of insights, AI can also be used to triage customer inquiries, which
reduces wait-times for customers looking for quick responses to basic questions,
such as hours of operation or inventory information.
AI customer service solutions like Digital Genius or Chatty People suggest or
automate answers to incoming customer questions, classify help tickets, and
direct inquiries or messages to the appropriate department. Leveraging AI in
customer support processes helps reduce average handling time and improves the
overall responsiveness of your customer service team.
2. AI in Marketing
Learning which marketing activities are delivering the highest return on
investment is incredibly valuable for small businesses that want to maximize
marketing budgets and focus resources on high-performing marketing strategies.
With marketing activities spread over many different channels, however, it is
incredibly time-consuming and challenging to monitor and analyze data across
all media channels. This is where AI marketing solutions really shine.

AI-powered platforms like Acquisio help manage marketing operations across

multiple channels, such as Google Adwords, Facebook, and Bing. Built in
Montreal, this sophisticated machine-learning layer analyzes live campaign data
using sentiment analysis algorithms and suggests a distribution of marketing
activities that offers the best results. It automates regular bids and monitors
overall marketing spend so that business owners can reduce time spent tracking
marketing campaigns and focus on other areas instead.
3. AI Functionality in CRMs
What if there was a way to take your CRM — the central hub for all your
company’s relationships and interactions with customers and potential customers
— to the next level and seamlessly mine valuable insights that can help manage
interactions with current and prospective clients, and automate marketing and
lead generation?

CRM platforms with embedded AI functionality can perform real-time data

analysis to deliver predictions and recommendations based on your company’s
unique business processes and customer data.
 4. Use AI to Track Competitors
It’s important to keep a finger on the pulse of industry trends and know what your
competitors are doing. Unfortunately, time-strapped business owners are often
too busy managing their own day-to-day operations to find time to review the
competition. Here’s where AI can help.

Competitive analysis tools like Crayon track competitors using a number of

different channels — websites, social media, and apps — and give business
owners insight into any changes in competitors’ marketing strategies, such as
price changes, subtle message modifications, and PR activities. Automated intel
and analytics reports provide opportunities to adjust your company’s strategies
based on your competitor’s product gaps, weaknesses, and strengths.
5. Make Light Work of Big Data
Considering the buzz about big data these days, it’s not surprising that small
business owners are eager to reap the benefits of massive amounts of online and
offline information to make informed, data-driven decisions that will ultimately
grow their business.

The beauty of AI-powered tools for business is that they can be plugged into
nearly every data-producing workflow and provide insights that are applicable
and actionable.

AI business tools like Monkey Learn integrate and analyze data across different
channels and perform time-saving analytics and reporting, such as:
 Sentiment analysis and entity extraction in Google Sheets, CSV, and Excel data
 Classification, tagging, and processing of customer support tickets and inbound
emails
 Analysis of product reviews and open-ended feedback in surveys and NPS
AI applications for small business are wide-ranging and plentiful. It’s getting
easier for companies of all sizes to reap the benefits of machine learning and
artificial intelligence.

AMBIENCE AND ENVIRONMENT:

AI has already been applied to several environmental problems.

For example, WildTrack uses a computer vision solution developed by SAS

called Footprint Identification Technology to monitor endangered species non-
invasively. The tool analyzes images of footprints of cheetahs, rhinos, and other
endangered species to identify them, track them, and determine what threatens
them, Purcell said.

Google has also used its own AI expertise to improve its energy efficiency as a
company—leveraging DeepMind's machine learning capabilities, it reduced the
amount of energy needed to cool its data centers by 40%.
At USC, Dilkina's research group has used AI to develop optimization methods
for wildlife conservation planning—an area where highly limited budgets need to
be allocated to protect the most ecologically effective land, she said.
Her team has also used machine learning and game theory to help protected areas
fight the poaching of endangered animals, including elephants and rhinos. The
explosion of Internet of Things (IoT) data, including sensors ranging from
cameras in a field to satellites in space, has helped scientists use AI techniques to
extract more data, Dilkina said.

AI applications also track mosquito populations to anticipate or prevent the

spread of disease, as well as weather changes, to warn populations about
upcoming storms.

FEATURES OF AI:

Facial recognition:

Facial Recognition is a form of artificial intelligence application that identifies

people faces using shapes,features of the face and also using digital image.

In the initial days this facial recognition concepts has showed some negative
impacts on every industry but in 2019 we are going to see this feature with higher
reliability and accuracy. We already aware facebook deepface program which
will easily tag our family and friends with face recognition and iphoenx already
using face recognition feature to unlock the phone.

Artificial Neural networks:

Artificial Neural network works similar to human neurons. Human brain consists
of 100 billion of neurons to function the human brain. Artificial neurons are
developed to make the computer or robot or machine to act like a human
being. These neurons are injected with vast amount of data to learn from. They
take data as input to deliver the on demanded services.
There is a incredible demand for neural network and are used for compose
music,to improve order fulfilment, and diagnosis of medical problems.The
current neural network technologies have improved a lot in 2019 and it would
continue to rise the research that will improves its effectiveness. we can take
advantage of these applications for life-altering situations.

Deep Learning:

AI, the most well known type of AI calculations, winds up testing when the
quantity of measurements of information increments. For instance, ascertaining
the cost of a home given existing home costs in an area has just two components
of information. Envision endeavoring to interpret your voice into content. The
issue is currently exacerbated a hundred times.

Profound learning is additionally the innovation behind self-driving vehicles,

voice control just as picture acknowledgment. With the coming of both Amazon’s
Alexa and Google home, there is a wide scope of voice-empowered applications
that utilization Natural language processing (NLP) calculations, a case of
profound learning.

This has expanded the enthusiasm for the up and coming age of profound learning
calculations that can take care of considerably harder issues, for example,
translating innovation framework issues.

Quantum Computing:

Quantum Computers Are using quantum physics for calculations and it will give
the results as accurate than the super computers. Quantum computers could solve
complex tasks that are beyond the capabilities of conventional computers.
2019 would see more research on quantum PCs and how to make methodologies
to decrease the mistake rates to make important calculations conceivable. As per
Andrew Childs, Co-chief, Joint Center for Quantum Information and Computer
Science (QuICS), “Current mistake rates altogether limit the lengths of
calculations that can be performed, We’ll need to complete much better on the
off chance that we need to accomplish something fascinating.”

Chatbots:

There are tremendous changes in the trends of Chatbots ,if you are surfing website
and needs any help Chatbots will acts as a humans but it’s actually operated by
robots,for example if a user wants to contact to the customer support chatbots will
give directions on it’s own to help that particular person to connect with the
customer support executive and will give response to the customer FAQ’s.

According to the research 25% of companies will use this chatbots or virtual
assistant in their customer support by the end of 2020 and predicts that these
chatbots are save the company revenue of $8 billion annually by 2022.