How Data Wins The Battle Versus AI and BI In 2020
Being in the year 2020 has made us realize how in terms of technology it is the end of an era. In the last decade, technologies have transformed drastically. This world has changed entirely, and technology has also come a long way from where it was before.
According to Brainvire, In terms of technology, Artificial Intelligence (AI), Business Intelligence (BI), and data have shown some far-reaching effects. At the start of this decade, Artificial Intelligence was at the stage of development. Business intelligence was at its infancy stage, while the Data has kept advancing and growing each year.
So How Does Data Prevail The Information Battle Versus Artificial Intelligence (AI) and Business Intelligence (BI)?
20 years ago, driverless cars and full-fledged smart homes were still an abstract idea. But, here we are, rushing to the future without taking our foot off the gas. All of this has become possible because of data, AI, and BI.
So, let’s look at the changes AI, Data, and BI have gone through and where will they stand in the future.
Artificial Intelligence involves the use of computer systems that mimics the attributes of human intelligence. In simple words, it requires computer software to think like humans.
Artificial Intelligence revolves around the study of how humans learn, think, and decide to solve an issue.
A survey conducted by PwC in 2017 shows that over 72 percent of business leaders believe that using AI can enable humans to concentrate on meaningful work.
Modeling human behavior and thought processes help AI make rational decisions.
Some experts say that we are entering the age of artificial Intelligence.
Can machines learn and adapt?
Can they develop reliable intuitions?
Technology professionals are asking these questions to make AI smarter.
As few of the Toptal Insights articles have explored, using AI-driven applications like chatbots, can drive greater efficiency and profits.
Business Intelligence allows businesses to gather, store, and analyze data to make better decisions. It plays an important role in business strategies and decision making of any company.
In an article published by CIO Magazine, Michael F. Gorman, professor of operations management and decision science at the University of Dayton in Ohio, said, “Business Intelligence doesn’t tell you what to do; it tells you what was and what is.”
With the help of BI, businesses can make decisions five times faster. It allows them to improve the quality of data they collect and the consistency in which they collect.
Multinational companies like Oracle, Microsoft, and Tableau have developed BI tools for various business functions, including sales, HR, and marketing.
Data is anything which are facts or statistics collected for analysis and reference. Even though sharing of data was just an idea at the start of the decade, businesses did know that it will be profitable in the near future.
Today, every device we own stores data in one way or the other. Our data is tracked everywhere, from our smartphones, applications, and voice assistants to website and ecommerce marketplaces.
Data has become one of the most crucial assets throughout the years. And it is advanced and improved every passing year.
According to some statistics, by 2020, there will be 20 billion devices connected worldwide, working on the model and concept of the Internet of Things.
Be it business intelligence or artificial Intelligence, everything depends on data. Data is fundamental for technologies to grow and improve and for innovations to take place.
The question of winning among AI, BI, or data seems irrelevant, as everything uses data. Artificial Intelligence and Business Intelligence collect, store, and use data to analyze and function appropriately for rich results.
It has become evident that the data will prevail no matter what. The more data we have, the better it will be for business intelligence and artificial Intelligence.
Regardless of the kind of business it is, data is the underlying factor of improvement and advancement for everything.
Today, the Internet of Things is taking over the world, and the number of devices is growing by each passing day, which means there won’t be a shortage of data any time soon.
Also read: Why Website Speed Is Very Important?
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Joseph has been a technology content writer & content marketing for the last 4 years at Brainvire infotech INC. He has written content on topics like a programming language, eCommerce, digital marketing, AI, E-commerce development etc. He loves to share the content with the audiences.