Artificial intelligence impacting business

Exploring Business Opportunities Through Artificial Intelligence

Understanding the impact of artificial intelligence on the future of work and other areas, will allow us to transform them into business opportunities. 

Change is happening slowly across Brazil. From Porto Alegre and Curitiba to Belo Horizonte, Brasília and Recife, digital technology is being employed to boost competitiveness, but now it’s time to change gear and really put data to work in all industries and sectors through artificial intelligence. Here’s how…

Understanding the impact of artificial intelligence (AI) on the future of work and other areas, will allow us to transform them into business opportunities.

What is AI?

“Artificial Intelligence is a set of computer science techniques that allows computer software to learn from experience, adapt to new inputs and complete tasks that resemble human intelligence,” writes Luka Crnkovic-Friis, founder and CEO of software development corporation Peltarion, in The Essential AI Handbook For Leaders. “…interlinked nodes loosely modeled after the human brain can be trained to do things like detect leukemia earlier than human experts, drive a car, help a restaurant better predict their food demand or optimize the logistics processes for a global retail company,” he adds.

Why should you care about AI?

“With the rise of artificial intelligence, we once again find ourselves standing before a fundamental change to our modes of production—faster and bigger than ever before,” continues Luka. “Its potential is unimaginable: a new standard for solving problems small and large that will rewrite existing business models and open up entire new ones. These changes will be profound. So the more you learn about AI now, the better chance you’ll have to be among the first to benefit from it.”

Isn’t AI really complicated?

Terminology like ‘machine learning’, ‘artificial neural networks’ and ‘natural language processing’ are not designed to confuse, but they can be tricky to understand right away:

What is machine learning

Machine learning is the umbrella term for an AI genre in which computers incrementally improve their ability to solve problems as they receive more data. Computers, argues Oxford University’s science and technology association Oxford Sparks, are just like children:

Artificial Neural Networks Explained

An artificial neural network is a computer system inspired by the structure of the biological brain. It’s essentially the basis of the current AI boom:

Google Assistant speaks like a human being

Natural language processing is a branch of AI technology that lets computers understand and respond to spoken human languages. A fun example of the kind of progress that the Google Assistant is making in this area is shown in this film from an onstage demo:

Where do you go from here?

Understand the technology is one thing, but exploring and capturing exploring business opportunities through artificial intelligence is a whole new ball game. What the business world in Brazil needs right now is leaders that can take innovation to the next level and use machine learning, artificial neural networks and natural language processing to create successful businesses.

“At the end of the day it is not technology that creates success, it is people,” writes Marcus Wallenberg, Chairman of Swedish financial group SEB and aerospace and defence company SAAB. “It is leaders that take the right decisions based on the most accurate data, insights and their ability to work with the best people. It is the ones who do this faster than the competition that will succeed.”

Leading in Artificial Intelligence Times is the name of a new course from Hyper Island that’s been designed to help you understand artificial intelligence and its implications. It is held over three days in São Paulo and will help you develop an understanding of AI and its implications when leading a team – or a whole organization – in the digital age and unlocking vital business opportunities.