Importance Of Artificial Intelligence In Today’s World

Artificial Intelligence as we all know is the growing or rather already adopted a branch of computer science which every individual or company is well aware of in today’s time. It’s the ability of a machine to be controlled via a computerized system to carry out different tasks in an efficient and organized manner, without much of the human intervention. Although it demands a high and robust coding experience, but looking at the massive advantage of implementing it at an individual or organizational level cannot be ignored.

Artificial Intelligence and its Usage

AI has been widely used in every industrial sector one can think of. Be it creating Virtual Assistants or Chatbots for a business website or its use in Retail, Fashion, Health, Sports Analytics, Manufacturing and Production, Autonomous Vehicles, Logistic Supply Chain etc., artificial intelligence is everywhere. Alexa and Google Assistant can be taken as two of the best AI-based virtual assistant examples to demonstrate how this technology has reached the lives of the common people in their day-to-day activities.

How does Artificial Intelligence work?

This is one of the most specific and desired to know questions by every individual who is related to the field of Information Technology i.e. how does AI work or what is the mechanism and working method behind Artificial Intelligence? Basically, AI systems work by combining large sets of data and leveraging their interactive processing algorithm to detect and learn the pattern and features in the data that it analyzes and constantly tries to test and measure its performance for better output results. The primary objective of the whole of the AI science is to build a computer system which will be capable to think like humans and act accordingly to solve complex problems in the shortest possible time.

Artificial Intelligence


Why Artificial Intelligence is important in the modern world?

Today’s world is all about automating the whole of our daily tasks; be it for an individual or from a business prospective. Especially if we look from an organizational point of view, Artificial Intelligence is very much essential since it reduces the time and effort of the employees and accordingly they can work on other productive tasks.

Also, integrating this technology for companies working in industrial sectors like logistics, supply chain and manufacturing can boost their sales and production lineup in their factories since a whole lot of tasks can be accomplished by robotic automation. Here, we can take the example of BoldTek; an IT service provider which leverages AI and ML-based predictions for manufacturing and functional defect of the product lineup for one of their global hi-tech clients.

Can artificial intelligence replace human intelligence?

Although incorporating Artificial Intelligence can hugely benefit the lives of common people and businesses but there is always a question that arises in every people’s mind – can Artificial Intelligence replace human intelligence? Well, in my personal opinion, maybe not because it’s the human intelligence that is working behind the scene and still holds the advantage in guiding effectively the work process of this technology. But, yes maybe to some extent it can replace a few jobs which are still in demand in the current market, although we know with new innovation and technology there arises a whole lot of opportunities and careers which people can pursue to live a happy and sustainable life.

AI and Human Intelligence

PC: freepik


Artificial Intelligence and its future growth

There is no denying the fact that Artificial Intelligence is the next future technological advancement where tech enthusiasts and companies would definitely like to shift their focus to leverage a bigger impact on society. Job seekers who are in the field of information technology can definitely look for career options like Big Data Engineer, Data Scientist, Machine Learning Engineer, AI Data Analyst etc. which can bring enormous growth to their professional careers. Also, tech giants like Google, Amazon and Huawei have already invested billions of dollars in their R&D for strengthening their services, product delivery and new innovation for and by the use of Artificial Intelligence.

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Samiran Sarma April 29, 2022 0 Comments

How Technology is Transforming Businesses

Technology is not just a mere word for us now. It has surrounded the day-to-day lives of every human being, no matter what work he is involved in. We live and breathe technology in today’s time. According to a study, the worldwide spending on technology has reached $3.4 billion and it is increasing at a rapid pace. This data is based on every household and enterprise spending money on new gadgets and tech products.

technology

Businesses have been highly benefited from technology over the years. The most recent advancement being Artificial Intelligence which deals with every sector like automobile, healthcare, logistics, finance, retail and whatnot. Today, every enterprise, be it a large or an SME is largely dependent on the technological aspects to bring more revenue for the growth of the organization.

Below I have listed some of the most common ways how technology has transformed businesses and their growth.

  1. Rise of Automation: The use of Artificial Intelligence and Machine Learning has paved the way for businesses to automate the whole work process and drastically reducing the time and effort of their workforce and wield them in other productive tasks. But by no means it is meant that AI has replaced human workers. However, professionals need to understand its roles and responsibilities in their organizations and quickly adapt to it. 
  2. Use of Mobile Application: Mobile applications or commonly abbreviated as Apps has been an added advantage for businesses to expand their reach and presence in front of their customers.  Every company wants to showcase its services and products on mobile devices and the best way to do it is by listing in the Google Play Store or Apple App Store. The convenience of the internet in pocket-friendly devices has helped users to download and use these apps very easily.
  3. Cloud Storage: There has always been a comparison between physical storage and cloud storage. Although both of them have their own pros and cons, but due to the ease of accessibility, Cloud Storage has always garnered more attention with services like OneDrive, Dropbox, Google Drive, AWS and Azure playing a vital role in bringing cloud storage closer to its audience; be it an individual or any business.
  4. Digital Marketing: Today’s era is completely based on digitization and when it comes to the marketing of products or services, every business wants to have a workforce with good Digital Marketing skills who can bring potential leads and work towards the growth of the organization. In a broader sense, a Marketing professional should have the skills and knowledge to present the company’s offerings via Digital platforms like Social Media, Email Marketing, Ad Campaigns, SEO, SMM and others.

The above highlighting points are just a few of the numerous tactics on how Technology is helping today’s businesses grow. But, one thing is for sure, without the use of Information Technology, no business, whether small or large, can survive in this fast-paced world and only via technology, they can cater the need for real-time problem-solving solutions.

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Samiran Sarma September 30, 2021 0 Comments

The way BoldTek can be beneficial for-Successful Business Intelligence Strategy

Corporate business strategy and technology roadmap are very much crucial.
A business intelligence strategy is designed to give you the information you need and in a way that’s actionable on many levels. To be data-driven, you’ll need to access, view and collaborate with your data from anywhere. To ensure that your business intelligence strategy is successful you need to consider what data is important to analyze to what metrics are meaningful to your teams. Businesses utilize data mining and statistics to prepare their business intelligence strategies in a comprehensive manner.
Why do I need one?

Applying business intelligence is important — but the way you do it matters just as much. This is why having a BI strategy is extremely important: ‘no pilot ever flew their plane in the air without a map or direction’.
Day to day business information is increasing and with the amount of data dealt and stored gets way out of proportion to treat it manually. On top all of the unstructured data which needs to be processed first in order to be understood and later used. It takes time and knowledge to make the best out of such asset, as well as a solid plan. A strategy will give your solution a direction, and a goal. Business intelligence without strategy might bring up some insights whilst it will not lead you where you want to head to.
Experts say: “ The project where BI strategy was involved were more successful than project without strategy”

.Design a Company-wide business intelligence strategy
Because BI has the potential to bring decision-making to every layer of the organization. A business intelligence strategy should be created to include all relevant departments and business areas. These should include finance, executive, IT, purchasing, logistics and marketing.

Build the strategy slowly
Think big, but take little steps towards your goal. At this stage, you will need to plan your business goal and most importantly, align it to a specific business requirement. The more focused you are in planning your business goals, the better you’re going to achieve.
You may follow the iterative process so as to build the knowledge of the team. The teammates may analyze data related to sales information, customer information, ROI from the designated source like (ERP, CRM,) or any marketing automation tools that stores customer information. Though as the last step you need to determine the KPIs that are useful and aligns to your objective.

Attain a whole of business view
Any business probably tracks and collects a huge amount of information. At times it seems as simple as what product is in store, and how long it takes it to get into a store and how long it takes to empty the store, can feel overwhelming. While handling all of it can seem like a headache, the right business intelligence strategy can turn the information into data that drives decisions.
In order to attain the bigger picture, you must bring data sets from various departments such as supply chain, sales, and product lines. Then, the information can be used to generate greater revenue. Thus, the BI strategy brings success to the business.

Mechanism for a quick access to your data
When you have an idea whilst you got to make a quick decision. You will need the access to information fast. Now, as you move forward to extract data from a spreadsheet or build data from scratch, the process literally slows you down. That is where dashboards and data visualizations come in.
To get a glance of the actionable data whilst turn the information into decision making. Here comes the role of a right dashboard in BI strategy. For example, you can put the individual employees and salaries on the dashboard. Then, you can compare them.
With a dashboard, the information you want is already in front of you. Your energy and attention is focused on the analysis. This is how BI strategy brings smooth functionality to your business.

Work with real time data
This is to elaborate how real time data can oversee the hurdles of a business owner/retailer or whole-seller through BI strategy.
The primary motive of Supermarket retailer Simplistic and their BI strategy is to provide good visibility of performance throughout the day to the team leader’s and their team member’s. This is carried out on user friendly KPI dashboards. KPI’s can be set accordingly to measure different aspects.
For an instance- The Management is eager for stores to be able see an update every 15–20 minutes on the volume of sales they had completed, the average value per transaction, how many items are in the sale whilst it included a cross-selling item such as Coke with french fries or Up-sell of Coconul hair oil with Shampoo.
Hence the BI strategy bestows the team members and team leaders complete ownership of their overall performance. This helps the team members understand their individual and team results whilst creates an active competition between teams. Thus which results in better performance and higher sales.

Collaboration
With BoldTek’s BI strategy solution collaborative capabilities, your work will have the benefit of your entire team’s input. BI strategies allow users to have the benefit of the input of the entire team. Collaborative business intelligence takes you on-board on the same page as your colleagues get. It also allows you to comment and question your colleagues. BI strategy helps you in carrying out the effective teamwork.

How BoldTek can leverage your Business intelligence strategy?
Strategic and collaborative engagements to help identify business opportunities and potentials to deliver specific outcomes.
Orchestrated sessions, discovery workshops to model solution roadmap that effectively leverages best practices and experiences from our global strategic business engagements. We eliminate the unpredictability that lies in the execution of any long-term business and IT solution roadmap. The effective management of the alignments of corporate business strategy and technology roadmap is very much crucial.
Website: www.boldtek.com

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Samiran Sarma May 26, 2021 0 Comments
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