Three types of Artificial Intelligence managers should know


(pic: Franck V)

Machines powered by Artificial Intelligence (AI) can perform many tasks—such as recognizing complex patterns, synthesizing information, drawing conclusions, and forecasting— and these are not long ago were assumed to require human intervention.  The AI what we see today and used by industries across is the simplest of all the AI available. It is the Narrow AI, also known as Artificial Narrow Intelligence (ANI).

There are three types of AI:

Artificial Narrow Intelligence (ANI) – Is the simplest of the level of AI. It is the only level achieved by humans so far. ANI is good at performing single task, such as playing cards, chess or making predictions in using data.

Artificial General Intelligence – AGI is the Artificial General Intelligence, also known as human-level AI. The blend of image processing, natural language (speech) and text processing (the big three of deep learning), plus robotics, is the Artificial General Intelligence platform (AGI) which is the holy grail of AI.

Artificial Super Intelligence – ASI is the Artificial Super Intelligence that is smarter than the collective intellect of the smartest humans in every field. ASI is about better cognitive ability of computers. These computers are smarter than humans. However, ASI is the next version of AGI, which is still not in use. Despite the fear of machines taking over humans in many quarters of research fraternity, AI in advance stage is believed to solve most complex problems of our time. Issues such as climate change, healthcare, etc. could meet with best solution in future. It is too early to predict the nature of AI we are heading.

Market size:

As per different reports available, Global Artificial Intelligence market size is expected to reach around 170 Billion in 2025. However, as per Gartner Inc, AI-derived business value is forecast to reach $3.9 trillion in 2022. There are three different sources of AI business value: customer experience, new revenue, and cost reduction.

The AI technology currently in use by company and business across domain is the Narrow AI or ANI – Artificial Narrow Intelligence. The AGI is yet to arrive, while the Narrow AI has huge near-term business potential.


Road to Digital Transformation

Digital Transformation

Digital Transformation from a buzz word to business as usual


Digital Transformation is the reality which businesses have already accepted the relevance, now they are implementing it at various levels. Business is a success and function of different process coming together. In the digital era business transformation is the new normal. Data is the fuel.

However, it is easy saying than done practically. Impossible is nothing but it is coming together of intent and technology. Digital Transformation has different layers to it, which companies are reinventing, implementing, investing and innovating by using new world technology. Innovation is the name of the game. Innovation is not inventing something new as in a new service offering or product , but innovation of business model, revenue model, supply chain, and of course the culture of the company.

Digital Transformation is digital corporate culture in progress!  (In a BCG study of 40 digital transformations, companies that focused on culture were 5x more likely to achieve breakthrough performance than companies that neglected culture.)

The different technologies that drives the value chain of Digital Transformation is below:

  • IT and Infrastructure
  • Digital Marketing
  • Big data and Analytics
  • Mobile application
  • Customer Relationship
  • Data and cyber Security
  • Cloud computing
  • Project Management

Digital Transformation changes the Business strategy, Business goals and process, strengthens the way brands market, and it creates new demand for human resource skills. Coming together of all of these is a new economy, a digital economy.

Digital Transformation requires a fully focused strategy to achieve it, without tinkering the core business vision. Startups are in better position to walk the digital road map day one.  Big organization are investing on new strategies to transform the inevitable.

Market size –  Global digital transformation market is expected to grow from US$ 445.4 Bn in 2017 to US$ 2,279.4 Bn by 2025 at a CAGR of 24.3% between 2018 and 2025 ( Source: pr newswire)