Artificial Intelligence has been a 60-year-old technology whose impact is only just being felt by businesses across the world.
The process of innovation is highly disruptive, turning old technologies obsolete and transforming the lifestyle and living standards of people and business operating models of companies worldwide.
Today's business processes rely heavily on modern IT technology, taking into account multiple data sources to make informed decisions.
Artificial Intelligence can be embedded in business processes to support humans by intelligent agents or to drive humans out of the process and replace them with fully automated solutions.
For instance, in the mortgage approval process, AI can predict the likelihood of a customer paying down a loan, enabling a decision to be made and actions to be taken.
Historically, humans have been responsible for activities such as data gathering, prediction, decision-making, and action selection. However, AI can now take over these tasks, freeing up humans to focus on higher-level decision-making.
