AI Today and What it Means for You

AI Today and What it Means for You

Whether you realize it or not, artificial intelligence (AI) is already a constant in your daily life. You may notice common AI applications like email filters in your inbox, text message auto-corrections, and personally curated music playlists. Or, you may run into more complex and forward-thinking applications of Al, such as Walgreens’ use of facial recognition software for in-store ad targeting.

The common thread is that AI is creating a new level of convenience and efficiency for consumers everywhere, and is doing the same for organizations as well. Now, the question is, are you ready to implement AI into your own business practices?

Webinars

Sourcing Training Data for AI Applications

Once you’ve made the decision to leverage AI and/or machine learning, now you need to figure out how you will source the training data that is necessary for a fully functioning algorithm.

Watch now

The Story Behind AI (and Machine Learning)

Before you answer that question, it’s important that you understand AI on a foundational level. So let’s examine what AI really is and how it must function for you to succeed.

Artificial Intelligence in a Nutshell

Simply put, AI is the simulation of human intelligence by computers. It allows software to learn and make decisions with a human-level intelligence, often more quickly and accurately than its human counterparts — particularly when there are large quantities of data involved.

Take Spotify as an example. Every song or album you listen to is tagged and catalogued into the AI engine by pre-selected criteria (e.g. genre, artist, mood, etc.). With that data, Spotify forms a baseline understanding of your preferences and anticipates your needs in the form of curated playlists, artist recommendations, and even advertisements. The more music you (and those like you) consume, the more the AI engine learns and matures, leading to increasingly accurate outputs.

Machine Learning in a Nutshell

This act of AI learning and maturation is known as machine learning (ML). By continually ingesting new data, algorithms identify new trends and patterns and automatically adjust their predictions and outputs to better reflect the current consumer landscape. However, AI algorithms are only as good as the quality and recency of the data they receive.

Think of the training data you use as the food you put in your own body. A well-rounded and balanced diet of the right foods allows you to look and function like the best version of yourself. Conversely, missed meals, a steady diet of junk food, or consuming too much of any single food will quickly reduce the level at which you operate. Make data quality a priority and it will reflect in your end results.

How AI Impacts Businesses and Consumers

Despite AI’s impact on personalization and the customer experience, only 15% of organizations currently use AI. That said, 31% of organizations see AI as a priority in the coming year, according to Adobe’s 8th Annual Digital Trends Report.

AI and its ability to parse through massive amounts of data to formulate insights is a main driver of this creative renaissance that is occurring within businesses today.

John Watton, Senior Director, Enterprise Marketing, EMEA, Adobe

Businesses should feel that urgency, as consumers are demanding AI-based personalization now. According to a Harris Poll survey, 63% of consumers already expect personalization as a standard of service. Thanks to the success of industry leaders like Amazon, Netflix and Spotify in delivering personalized experiences, other organizations now bear the burden of implementing AI-based solutions that meet consumers’ high expectations.

As a result, the market for AI figures to grow at astronomical levels in the coming years. According to Tractica, the global AI market is projected to grow to $118.6 billion in 2025 (up from $9.5 billion in 2018). Gartner expects this investment to have a massive payoff, creating an estimated $3.9T in business value in 2022 — largely driven by improvements in the customer experience.


AI is a complex beast, but one that can be instrumental to your future if tamed correctly. Just how impactful can this technology be for you? Find out in our next blog.

Whitepapers

Your Keys to Combating Bias in AI

Whether intended or not, bias is built into every AI engine. See where you need to be vigilant and the steps you can take to eliminate bias from your AI initiatives.

READ NOW
Want to see more like this?
Kelly Mccann
Kelly McCann
Senior Product Marketing Manager
Reading time: 5 min

The Pros and Cons of a Bug Bounty Program

Bug bounties can uncover defects and vulnerabilities, but aren’t a digital quality catch-all

Why Media Companies Must Deliver Relevant Ads

Expectations have changed, and both media companies and advertisers must adapt.

The Building Blocks for a Better Personalized Experience

AI lends a big hand in helping enterprises adopt personalized experiences at scale

How Retail Banks Can Survive in the Digital Arena

Applause speaks to Credito Emiliano about how retail banks can survive in the digital arena, in which new banking business models threaten legacy players.

Finding Hidden Defects Using Investigative Testing

Take an investigative approach to overcome defect fatigue

How Usability Testing Enables Immersive Metaverse Experiences

Take a thoughtful, iterative approach to understand users’ points of friction in the metaverse.