Artificial Intelligence in Business

by Amandeep Kaur1, Anjum Mohammad Aslam2
1,2 Department of Computer Science & Engineering, Chandigarh University, Mohali, Punjab, India.

10.46679/isbn978819484834901

Abstract

In this chapter, we discuss the core concept of Artificial Intelligence. We define the term of Artificial Intelligence and its interconnected terms such as Machine learning, deep learning, Neural Networks. We describe the concept with the perspective of its usage in the area of business. We further analyze various applications and case studies which can be achieved using Artificial Intelligence and its sub fields. In the area of business already numerous Artificial Intelligence applications are being utilized and will be expected to be utilized more in the future where machines will improve the Artificial Intelligence, Natural language processing, Machine learning abilities of humans in various zones.

Keywords: Artificial Intelligence, Natural language processing, Machine Learning, Neural Network, Deep Learning, Business Models

This chapter is a part of: Management of Data in AI Age (Eds. MSS El Namaki, Ph.D. & Pooja Sharma)

© CSMFL Publications & its authors.

References

  1. Akerkar, R.(2019). Artificial Intelligence for Business, Springer Briefs in Business, pp. 1–92. Springer, Cham, https://doi.org/10.1007/978-3-319-97436-1
  2. Aslam M. A., Kaur. A.,(2020). Emerging Trends and Applications of Machine Learning: A Survey , The Mattingley Publishing Co Inc., Vol. 82, 16701-16705.
  3. BaFin (2018). Big Data Meets Artificial Intelligence— Challenges and Implications for the Supervision and Regulation of Financial Services. https://www.bafin.de/SharedDocs/Downloads/EN/dl_bdai_studie_en.html (accessed on 30/5/2020).
  4. Dara, H.,Chowdary, R. & Kumar, C. (2019). A survey on group recommender systems. Journal of Intelligent Information Systems. 10.1007/s10844-018-0542-3.
  5. Das, S., Ghosh, I., Banerjee, G. & Sarkar, U. (2018). Artificial Intelligence in Agriculture: A Literature Survey . International Journal of Scientific Research in Computer Science Applications and Management Studies ,Volume 7, Issue 3.
  6. Finlay, S. (2018). Artificial Intelligence and Machine Learning for Business: A No-Nonsense Guide to Data Driven Technologies (Third Edition). Relativistic, ISBN-13: 9781999730345.
  7. Gartner.(2019). Gartner Says AI Augmentation Will Create $2.9 Trillion of Business Value in 2021. https://www.gartner.com/en/newsroom/press-releases/2019-08-05-gartner-says-ai-augmentation-will-create-2point9-trillion-ofbusiness-value-in-2021 (accessed on 30th May 2020).
  8. Girasa R. (2020) AI as a Disruptive Technology, Springer Science and Business Media LLC, DOI https://doi.org/10.1007/978-3-030-35975-1_1
  9. Kim, H.N., & El Saddik, A. (2015). A stochastic approach to group recommendations in social media systems. Information Systems, 50(Supplement C), 76–93.
  10. Kim, J.K., Kim, H.K., Oh, H.Y., Ryu, Y.U. (2010). A group recommendation system for online communities. International Journal of Information Management, 30(3), 212–219.
  11. Krishnan, P.R.(2019), Reshaping a Business Around AI: The Machine First™ Approach to Digital Transformation. https://www.tcs.com/content/dam/tcs/pdf/perspectives/volume-12/Reshaping-a-Business-Around-AI-The-Machine-First-Approach-to-Digital-Transformation.pdf (accessed on 30th May 2020).
  12. Management Solutions (2018), Machine learning a key component in business model transformation, https://www.managementsolutions.com/sites/default/files/publicaciones/eng/machine-learning.pdf (accessed on 30th May 2020).
  13. MEMSQL, Survey Finds Machine Learning and Artificial Intelligence are Top Business Priorities, https://www.globenewswire.com/newsrelease/2018/02/07/1335563/0/en/Survey-Finds-Machine-Learning-and-Artificial-Intelligence-are-Top-Business-Priorities.html (accessed on 30th May 2020).
  14. Minsky M.(1961). Steps toward artificial intelligence . Proceedings of IRE, Vol. 49, no. 1, pages 8-30.IEEE
  15. MobiDev (2019). Natural Language Processing (NLP) Use Cases for Business Optimization. https://mobidev.biz/blog/natural-language-processing-nlp-usecases-business (accessed on 30th May 2020).
  16. O‖Leary,D.E. (1995), On the History of the AI Applications, I: IEEE Expert, the First Nine Years, IEEE Expert, Vol. 10, No. 1, https://doi.org/10.1109/64.391956
  17. Pau L.F., Gianotti C. (1990) Applications of Artificial Intelligence in banking, financial services and economics. In: Economic and Financial Knowledge-Based Processing. Springer, Berlin, Heidelberg, ISBN : 978-3-642-76004-4.
  18. PwC (2018). 2018 AI predictions – 8 insights to shape business strategy. https://www.pwc.es/es/publicaciones/tecnologia/assets/aipredictions-2018.pdf (accessed on 30th May 2020).
  19. Rong, G., Mendez, A., Bou Assi, E., Zhao, B. & Sawan, M. (2020). Artificial Intelligence in Healthcare: Review and Prediction Case Studies . Engineering. Volume 6, Issue 3, Pages 291-301.
  20. Satista. (2020), Natural Language Processing market revenue worldwide 2017 – 2025, https://www.statista.com/statistics/607891/worldwide-naturallanguage-processing-market-revenues/#statisticContainer
    (accessed on 30th May 2020).
  21. Soofastaei, A. (2019). Introductory Chapter: Advanced Analytics and Artificial Intelligence Applications , IntechOpen, DOI: 10.5772/intechopen.89784
  22. UpGrad (2019), 5 Applications of Natural Language Processing for Businesses. https://www.upgrad.com/blog/5-applications-ofnatural-language-processing-for-businesses/ (accessed on 30th May 2020).
  23. Zirra.(2017). 9 Tools that Simplify Competitive Analysis (2017) . https://wisdom.zirra.com/2017/08/24/9-tools-that-simplifycompetitive-analysis/ (accessed on 30th May 2020).

[email protected]

Follow us @