Innovation Labs / Artificial Intelligence & Machine Learning

Artificial Intelligence & Machine Learning

Exploring Artificial Intelligence & Machine Learning

Considered one of today’s most disruptive technologies, Artificial Intelligence (AI) is real and revolutionary. Artificial Intelligence is a broad term which encompasses a machine mimicking cognitive functions of the human brain, such as learning and problem-solving. Research has divided AI into two types, strong and weak. Weak AI is machine intelligence that is limited to a specific or narrow area, whereas Strong AI currently doesn’t exist, being described as the next, theoretical step of AI.

In some cases, when people talk about AI they might actually mean Machine Learning (ML), a branch of artificial intelligence based on the idea that systems can learn from data, identify patterns and make decisions through deep learning. Version 1 Innovation Labs have been exploring the potential of Artificial Intelligence and Machine Learning to understand how these technologies can be used in our customer’s businesses to provide real-world benefits. To date, Version 1 Innovation Labs have interpolated AI with Chatbots, building the Smart FAQ Bot using open source and Cloud technology.

Industries

Artificial Intelligence and Machine Learning can be applied across a wide range of industries - below are some industries where this technology can be applied to.

Manufacturing
Retail
Healthcare
Travel and Hospitality
Energy and Utilities
Financial Services

Real World Examples of Artificial Intelligence & Machine Learning

  • Always-On Service
    The nature of AI allows it to operate 24/7, all year round.
  • Smarter Workplace
    Virtual assistants developed using AI and ML techniques can be used to increase employee efficiency.
  • Faster Decision Making
    Using AI can end menial, tedious processes, saving both time and money.
  • Predict Consumer Behaviour
    AI and ML can be used to perform a deep analysis of customers habits, providing valuable insights into consumer behaviour.
  • Scale Business
    ML can identify key selling points for a business, and help communicate propositions effectively.
  • Prevent Fraud
    Through data analysis, AI can be used to identify and prevent fraud.

Learn about the Ethical Challenges of AI

Learn about the Ethical Challenges of AI on episode #5 of the One Zero One Podcast, which features Ken MacMahon, Head of Technology and Innovation at Version 1, who speaks to Dr. Joan Cahill, Principal Investigator/Research Fellow at the Centre for Innovative Human Systems (CIHS), Trinity College Dublin, Ireland.

Listen to Podcast

Interested in AI? Talk to the Innovation Labs

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