ARTIFICIAL INTELLIGENCE IN MANAGEMENT(AIM)

ASSIGNMENT

By Varnika Gupta
Roll Number: 2021PGP423
INSTANCES WHERE ARITIFICIAL INTELLIGENCE IS ENCOUNTERED IN
EVERYDAY LIFE:

1. Navigation and maps

Traveling has been greatly enhanced by AI. You may now use Waze, Google, or Apple Maps
on your phone and punch in your destination rather than relying on printed maps or
directions.

So how does the application determine its destination? What's more, the best route, traffic
jams, and road barriers? Prior to recently, the only GPS technology available was satellite-
based, but artificial intelligence is now being included to provide consumers with a
significantly improved experience.

With the use of machine learning, the algorithms can recognise and comprehend home and
building numbers as well as the edges of the buildings they have learned, resulting in
improved map visualisation. In order for the programme to suggest a route that avoids traffic
jams and barricades, it has also been taught to comprehend and recognise variations in traffic
flow

2. Facial Recognition and Detection

We now use artificial intelligence on a regular basis in the form of virtual filters on our faces
while taking photos and face ID to unlock our phones. Any human face is recognised in the
former thanks to face detection. The latter makes use of face recognition to identify a
particular face. Government buildings and airports both utilise facial recognition for
surveillance and security.

3. Autocorrect or text editors

In word processors, texting apps, and seemingly every other written media, AI algorithms
utilise machine learning, deep learning, and natural language processing to identify erroneous
language usage and offer changes. Together, linguists and computer scientists teach machines
grammar in the same way that you were taught it in school. Because the algorithms were
trained using high-quality linguistic data, the editor will recognise when you use a comma
inappropriately.

4. Algorithms for Search and Recommendation

Have you ever noticed that when you wish to watch a movie or shop online, the
recommendations made to you frequently match your hobbies or most recent searches? By
monitoring your online activities, these clever recommendation systems have gradually come
to understand your behaviour and preferences. The user provides the data up front, which is
then saved and subject to machine learning and deep learning for analysis. After that, it can
typically forecast your preferences and make suggestions for what you might want to buy or
listen to next.

5. Chatbots

Customer service interactions can be time-consuming and frustrating for the customer. It's a
costly, ineffective department that is difficult to manage for businesses. AI chatbots are one
increasingly common artificially intelligent remedy for this. Machines can receive and track
orders, answer frequently asked inquiries, and direct calls thanks to programmed
algorithms. Through the use of natural language processing, chatbots are trained to mimic the
conversational styles of customer service agents (NLP). Modern chatbots don't need specific
input formats, like yes/no questions, anymore. They are able to respond in-depth to
challenging questions. In fact, if you rate the response you received poorly, the bot will
recognise its error and avoid it in the future, guaranteeing optimum client pleasure.

6. Electronic assistants

We frequently turn to ordering digital assistants to complete work on our behalf when we're
busy. When you are driving, you might ask the assistant to contact your mom (don’t text and
drive, youngsters). An artificial intelligence (AI) that accesses your contacts, recognises the
word "Mom," and dials the number is an example of a virtual assistant like Siri. These
assistants determine what you're asking for and make an attempt to get it for you using NLP,
ML, statistical analysis, and algorithmic execution. The operation of voice and image
searches is very similar.

7. Social Networks

To keep you engaged and "plugged in," social media platforms utilise AI to monitor content,
recommend connections, and send adverts to specific users, among many other
functions. Through the use of visual image recognition and keyword analysis, AI algorithms
can quickly identify and remove posts that are problematic and in violation of the terms and
conditions. Although a crucial part of this process, deep learning goes beyond its neural
network design. Social media businesses employ AI to connect users to the advertisers and
marketers that have identified their profiles as significant targets since they are aware that
their users are their product. Social media AI may also recognise the types of content that
appeal to a user and recommend that kind of content to them.

8. E-payments

AI is contributing to the fact that you haven't visited a bank branch in the past five years
because running to the bank for every transaction is a huge time waster. Banks are now using
artificial intelligence to make customers' lives easier by streamlining payment procedures. By
utilising artificial intelligence (AI) for security, identity management, and privacy controls,
intelligent algorithms have made it possible to make deposits, send money, and even start
accounts from anywhere. By keeping an eye on users' credit card spending patterns, even
potential fraud can be discovered. Another illustration of artificial intelligence is this. The
algorithms are aware of the types of things a user purchases, as well as when, where, and in
what price range they are frequently made.

When there is an unusual activity that does not fit in with the user profile, the system can
generate an alert or a prompt to verify transactions.

9. Healthcare

Healthcare is one of the industry sectors where AI has had the most profound effects. A
device as popular as a Fitbit or an iWatch gathers a lot of data, including the user's sleep
patterns, calories burned, heart rate, and much more, which can aid in early detection,
personalisation, and even the diagnosis of diseases. When equipped with AI, this gadget can
effortlessly monitor and alert users to unusual tendencies. The doctors who can use it to
conduct research and make choices will find it quite helpful because it can even schedule a
visit to the nearest doctor on its own. It has been used to anticipate ICU transfers, enhance
clinical workflows, and even identify a patient's risk of acquiring infections while in the
hospital.

10. Gaming

AI-powered computer game systems are ushering in a new era of immersive gaming
experiences in other industries as well, including the gaming business. In video games, AI is
used to give non-player characters (NPCs) responsive, adaptable, or intelligent actions that
are virtually human-like. Instead of machine learning or decision-making, it helps to improve
the gaming experience for the gamer. A significant part of AI has also been used in the
development of video games to better cater to player preferences.

11. Tourism

The price can be forecasted using predictive analytics powered by artificial intelligence. The
programme can forecast pricing trends and notify users when to purchase tickets. Therefore,
you can get the best deal before making reservations for your flights.

LEARNINGS

According to the class discussions, we realised that Artificial Intelligence will encompass the
daily life and there is no running away from it. Apart from its pervasiveness in day to day
activities it will also help managers in performing administrative tasks like monitoring and
other repetitive work which drain the efficiency and productivity of the workforce. Instead,
workforce can now utilize their time in much more productive work. AI is better than humans
at crunching numbers, finding patterns, and making quick decisions based on facts. This
artificial intelligence programme can be a crucial tool for any manager searching for some
quantitative support in their decision-making because of its capacity to process enormous
volumes of data and spit out trend directions and useful recommendations. In fact, since robo-
advisors have replaced human fund managers, 40% of expected job losses in the financial
services sector will be in the money management sector.

Managers apply empathy and ethical thought, as well as their understanding of the history
and culture of the organisation. The use of experience and knowledge in important business
decisions and practises is the essence of human judgement, which quality cannot be emulated
by AI.