Updated: Mar 5, 2019
Artificial Intelligence (AI) is manifested by machines performing cognitive functions, which are normally associated with humans, such as reasoning, learning, problem-solving and in some cases even creativity (McKinsey Global Institute, 2017).
AI-powered business processes have been a subject that is dominating the industry, from applications in advertising automation, predictive analytics, strategising, future trend recognition to radical personalisation of the online customer experience. Big Data has further fuelled the application of Artificial Neural Network (ANN) and Deep Learning (DL), in the field of predictive analytics that better inform business decisions by predicting sales, consumer behaviour, understanding complex buyer segments and identify revenue opportunities.
A machine-human collaborative approach could enable a powerful connection between quantitative machine capabilitiesand human creativity that both improve collaboration and enrich customer experience. To do so humans will need to adapt and expand their knowledge in terms of the systems, tools, and processes required to make the best use of AI. The progress of machine-human collaboration will need to further resolve ethical, legal and regulatory challenges that could otherwise hold back the beneficiary fusion of human and machine intelligence.