Why is artificial intelligence important? When used correctly and thoughtfully integrated into business functions and processes, AI can change how you do business. Discover how AI is transforming the way enterprises operate.
The Importance of AI
Artificial intelligence (AI) encompasses the technologies that enable machines and systems that mimic human intelligence.
Why is AI important? AI can handle high-complexity tasks with speed and accuracy. It can process vast amounts of data and have human-like cognitive functions and mental abilities.
In other words, AI can see, hear, respond, understand, learn, and decide like a human could and would. Unlike humans, though, it does not get tired or make mistakes.
Therein lies its value. AI systems can take charge of repetitive, rigorous processes and workflows. This improves productivity, boosts efficiency and minimises errors. It also gives human personnel more time for strategic tasks.
AI can also act and decide, ostensibly autonomously. While it has to be programmed and can’t really go beyond the bounds of its programming and data, it improves and evolves. With more data, it becomes better at identifying patterns and anomalies, generating insights, and predicting what will and can happen. It can also extract variables and associations that may remain obscure even to trained human eyes.
No one can deny the benefits of artificial intelligence. Enterprises must not delay in integrating AI into their functions and processes. In fact, large organisations are already rewiring their operations and reshaping their workflows for AI adoption.
The future of artificial intelligence involves its increasing integration into existing solutions, the creation of new systems with AI at its core, and the AI-driven transformation of business operations. Below are some of the ways our artificial intelligence service empowers business organisations with transformative AI solutions.
AI-Powered Video Analytics for Better Surveillance and Security
AI is transforming the way schools and corporations are using video surveillance to safeguard their premises.
Traditional Video Surveillance
Video surveillance systems involve cameras that send live camera feeds to video displays for real-time monitoring and to onsite or cloud-based storage systems for retrospective threat detection and video data analysis. In traditional video surveillance, security personnel must:
- Actively monitor live video feeds to discover potential threats and detect incidents as they happen.
- Spend hours going through video footage after an event to understand how it happened, identify the people involved and initiate measures that can prevent something similar from happening in the future.
- Pore through hours of videos to identify risks and actively mitigate potential hazards.
AI-Layered Video Surveillance Systems
AI-layered security surveillance solutions can do all of the above more quickly and efficiently.
Computer vision allows AI to ‘see’ the world seemingly the way humans can, identifying objects and interpreting scenes based on the environment and available visual cues. AI-powered systems can process video data much faster, ensuring efficiency and prompt response when needed.
Consequently, corporate or school security solutions layered with AI video analytics can do these, among other things:
- Detect dangerous objects: It can send you real-time alerts when it detects weapons, especially on individuals who are unauthorised to carry them.
- Detect unauthorised access or entry: You can draw virtual tripwires on specific areas. Any breaches would automatically alert you so you can respond promptly.
- Detect patterns: It can make sense of seemingly disparate incidents (e.g., unauthorised access, a weapon, an unattended bag, a data breach) and alert security to a potential threat.
- Create unified scenes from multiple cameras: You can ‘feed’ it real-time video from multiple connected cameras, and it can make sense of them. It can even combine video feeds to create a unified scene, timeline, and perspective.
- Provide real-time alerts and insights: AI can send real-time notifications and alerts to security personnel for any suspected breaches, incidents, or potential hazards so they can be immediately mitigated and their impact can be minimised.
- Learn: Through machine learning, AI analytics models can incorporate new data and improve its detection and prediction abilities.
AI-Driven Predictive Maintenance for Better Resource Availability
AI has changed the way companies maintain their equipment. For instance, it is compelling oil and gas companies to move from preventative maintenance to predictive maintenance.
Preventative Maintenance
Preventative maintenance dictates oil and gas companies must inspect and service their equipment on a fixed schedule—e.g., quarterly, biannually, every other year, etc. Regular maintenance prevents costly and disruptive breakdowns.
Preventative maintenance costs money, however. A company may have to fly in maintenance engineers for inspections, troubleshooting and servicing. You don’t want to do maintenance more frequently than necessary.
It’s disruptive as well. Every submarine pump under preventative maintenance is a pump out of commission and production. This translates to lost output, and it’s particularly wasteful if the pump is actually still in good condition and does not really require any work.
Predictive Maintenance
Predictive AI models can be trained on decades of equipment sensor data. This enables them to predict when machines are likely to malfunction so they can be serviced only when a breakdown is imminent.
AI can process and analyse the data much quicker than humans can. Through machine learning, moreover, predictive models can improve and incorporate obscure parameters that can improve their forecasting accuracy.
Through AI-powered predictive maintenance solutions, organisations can initiate maintenance only on equipment that needs it. Oil and gas companies need not take a pump out of commission when it’s working well. Since they can provide timely service, they can prevent irreversible equipment damage, output losses due to machine failure, and product contamination.
Ultimately, these minimise downtime, opportunity costs and repair bills. It also extends asset lifespan.
AI-Layered Behavioural Analytics
AI can enhance the efficacy of behavioural analytics systems, particularly in mitigating cybersecurity risks.
Behavioural Analytics
Behavioural analytics systems use primarily historical data to glean insights into human behaviour. In cybersecurity, it helps determine the behaviours that can put an organisation's data and assets at risk.
Using historical data, behavioural analytics systems recognise behavioural patterns related to risky and fraudulent activities. Algorithms then predict the level of risk associated with certain behaviours.
AI-Enabled Behavioural Analytics
AI enhances the effectiveness of behavioural analytics algorithms. Since AI can process massive amounts of data, has millions or billions of parameters and improves as it ‘learns’ new information, it is better at identifying risky behaviours, predicting future behaviour and prescribing both active and passive risk-mitigation strategies.
AI is flexible and adaptive, moreover. AI-powered behavioural analytics ensures an organisation can keep up with new threats.
AI-Powered Solutions for Your Organisation
Artificial intelligence is being quickly integrated into existing systems and applications, improving functions and processes and maximising value extraction for organisations. It is transforming the way businesses operate.
AI-powered video analytics is enhancing infrastructure security solutions. Meanwhile, AI-layered systems are improving maintenance functions, and AI-driven behavioural analytics is improving cybersecurity.
These are just three ways AI is transforming business operations. There’s more, and we at MVP Tech - Convergint can walk you through all the possible applications of AI in your business and implement AI technology system integration on your behalf.
Realise efficiency gains and drive value for your organisation with AI-powered business solutions. Contact us now.
