What is artificial intelligence?
Artificial intelligence (AI) is the ability of a machine to demonstrate capabilities similar to human intelligence. You have probably heard this term, but what does it really mean? It is clear it is related to computers, but exactly how?
AI is defined as a special algorithm that solves assigned tasks and learns from them, providing possible solutions based on previous decisions. By analysing the impact of past actions and operating autonomously, AI systems can adapt their behaviour to a certain extent.
AI enables computer systems to perceive their environment, process what they perceive, and solve problems to achieve a specific goal. A computer receives data (either pre-prepared or collected through its sensors, such as a camera), processes it, and responds.
Specific AI applications include expert systems, natural language processing, speech recognition, and machine vision.
Where is artificial intelligence used?
It may seem that AI solutions were only a vision of the future not long ago. Today, they are widely used in everyday life:
- Online search, online shopping, and advertising. By learning from vast amounts of user-provided data, search systems deliver customised results. Based on users' previous searches, purchases, or other online behaviour, AI applications enable personalised recommendations. AI is also used for commercial purposes, such as optimising products, planning inventory, managing logistics, and more.
- Digital personal assistance. AI is used in smartphones to provide users with highly personalised experiences. Virtual assistants that answer questions have become part of everyday life.
- Automated translations. Language translation software, whether for written or spoken content, relies on AI to deliver and improve translations. AI is also used for automatic subtitling.
- Smart homes, cities, and infrastructure. Smart thermostats help save energy at home, while AI-regulated traffic can improve mobility and reduce congestion.
- Cyber security. AI programs can help detect cyberattacks and other threats. Machine learning is used in security information and event management (SIEM) software and related fields to identify anomalies and suspicious activity that indicate threats. By analysing data and using logic to find similarities with known malware, AI can warn about new and emerging attacks much faster than employees and previous technologies.
- Fighting disinformation. Some AI applications can detect fake news and identify misinformation. They do this by analysing social media data, searching for sensational or alarming language, and identifying authoritative online sources.
- Cars and transportation. AI-based safety features are used in vehicles, such as automatic VI-DAS sensors that detect potentially dangerous situations and accidents. Most navigation systems are also based on AI. AI technologies are used in transport to predict flight delays, make maritime shipping and rail traffic safer and more efficient.
- Healthcare. Research is being conducted on how to use AI to analyse large amounts of health data and identify patterns that could drive new medical discoveries and improve personalised diagnostics.
- Food and agriculture. AI can help ensure healthier food by reducing the use of fertilisers, pesticides, and irrigation, thereby creating a sustainable food system. Robots removing weeds could reduce the use of herbicides. On many farms across the EU, AI is already used to monitor animal movement, temperature, and feed consumption.
- Manufacturing. AI can help increase production efficiency. By using robots, companies can optimise logistics, monitor factories, and predict potential failures. One example is the EU-funded SatisFactory project, which aims to contribute to the transformation of traditional industrial environments through advanced technologies.
- Banking. Banks successfully use chatbots to introduce their clients to services and offers and to perform operations that do not require human intervention. AI virtual assistants are used to improve services and reduce the cost of regulatory compliance in banking. AI applications in banks also improve loan decision-making, determine credit limits, and identify investment opportunities.
As we can see, the application of artificial intelligence is very broad. Moreover, it is likely to expand even further in the future.
Artificial intelligence in Lithuania
There is no doubt that artificial intelligence will occupy an increasingly larger share of every country's economy in the near future. Lithuania is no exception, where an AI ecosystem is already forming, along with an active AI community of around 1,000–1,500 people, of whom 300–500 are active professionals.
In our country, more and more Lithuanian and foreign companies, including startups, are developing world-class AI products and services. One of the leaders in this field is Baltic Amadeus, which has been providing innovative technological solutions to businesses for more than three decades and actively helping Lithuanian companies implement AI technologies.
We can also take pride in the fact that Lithuanian AI startups have already distinguished themselves in multiple international AI competitions. It is expected that Lithuania's investments in AI will continue to grow in the coming years, and this field will become an important part of the national progress strategy, Lietuva 2050.
Application of artificial intelligence in business
How is artificial intelligence used in business? AI integrated into business management systems can simplify their administration, reduce manual work, support group decision-making, and predict potential scenarios. For example, machine learning algorithms are integrated into customer relationship management (CRM) platforms to reveal insights on how to better serve customers. Chatbots are also integrated into websites to provide real-time customer service.
AI systems cover many business areas and can be applied to solve almost any task. Human errors are a natural part of daily operations and may go unnoticed by employees. AI in business helps prevent this. It can identify and correct errors and detect recurring issues. AI can use historical data to provide the most relevant information and predict future actions.
Artificial intelligence in industry
Artificial intelligence is widely used in industry: from order intake and material procurement to warehousing, logistics services, raw material accounting, downtime or equipment operating time, and forecasting in production or failure management.
AI systems are typically implemented in companies with large data flows that are difficult to manage, where support is needed to process information, manage its volume, maintain the required speed, and save time on calculations. AI helps predict the necessary plans and actions to ensure timely and accurate task execution.
Artificial intelligence in medicine
How is artificial intelligence used in medicine? AI in medicine is used to make diagnoses more accurately and quickly. One of the most well-known healthcare technologies is IBM Watson. It understands natural language and can answer questions. The system collects patient data and other available data sources to form a hypothesis, which it then presents with a confidence score.
Another example of AI in medicine is the EU co-funded KConnect program. It develops multilingual text and search services that help people find the most relevant medical information.
Other AI applications include online virtual health assistants and chatbots that help patients and healthcare customers find medical information, schedule appointments, understand billing processes, and perform other administrative tasks.
Various AI technologies are also used to predict, combat, and understand pandemics such as COVID-19. In this case, AI was used in thermal imaging equipment at airports and elsewhere. AI can also help detect infections from lung CT scans.
Future prospects of artificial intelligence for modern business
According to calculations by the World Economic Forum (WEF), by 2025, in terms of working hours, robots or automated technologies will already account for more working hours than humans. Although such a future may seem intimidating to some, there is no need to worry. It is predicted that in the same year, more new jobs will be created than those replaced by AI technologies.
One of the most promising AI technologies in business is chatbots. It is predicted that by 2025, the global chatbot market will exceed 1.25 billion. This growth is particularly dramatic – back in 2016, the market was worth only 190 million US dollars. All data shows that the use of chatbots will continue to grow strongly.
Research by the technology research and consulting company Gartner highlights increased interest and investment in so-called generative artificial intelligence over the past few years. It is based on algorithms that leverage existing content, such as audio, images, or text, to create new content. Gartner predicts that, within the next 3.5 years, generative AI will account for about 10% of all content created. Currently, this figure is less than 1%.
In business, generative AI will be used to facilitate software development, search for candidates to fill talent gaps, and more. The possibilities of using such technologies are limitless. Companies that understand this today are likely to outperform competitors who fail to keep up with technological advancements.
Another growing field is decision intelligence. This AI-based technology uses automation to model data-driven decisions, making them more efficient. It is estimated that, within the next two years, about one-third of large global companies will use this technology to make better, more systematic decisions.
Trends show that the future of AI is promising. This is no surprise, as AI solutions are becoming increasingly common. They significantly simplify our daily lives and are integral to business.
Companies that want to leverage AI's potential today can consult with the Baltic Amadeus team, which helps businesses smoothly and successfully implement AI solutions.
So, all that remains is to take advantage of the opportunities AI offers and look forward to what comes next.
