As AI Rises, Here’s a Little Cheat Sheet for You

Artificial intelligence (AI) is everywhere. As we move into the future, the trend of many everyday functions being carried out by robots is sure to rise. In fact, the World Economic Forum in Davos last year already predicted that, by 2020, as many as 5 million jobs would suffer at the hands of AI.

But perhaps instead of looking at what’s to come (and what’s already happening) with a sense of dread, it’s time to embrace the changes. It’s also a good time to know what’s being spoken about when you’re in a meeting. So, if you need a little brush op on your AI vocabulary, check out this cheat sheet below.

Chatbots

Chatbots run inside messaging apps and have been around a long time. You’re probably already familiar with them in the form of Facebook Messenger and other chatting technology that gets smarter the more we use them. Chatbots start to store and understand expressions that we commonly use. They also predict the text that we’re going to write next. Get prepared to hear a lot more about chatbots as they start understanding languages even better and replacing your personal assistant.

Clusters

As you may have guessed, clusters refer to a group of people, or data that share common characteristics. As AI is used more and more in breaking down big data to help marketers make smarter decisions and target their customers easier; “clusters” can be uncovered in huge mounds of data. A cluster of customers partial to your product, for example. A segment of consumers who enjoy the same activities, or have similar purchasing preferences.

Deep Learning

What’s deep learning when it’s at home? It may sound like burying yourself in the library with a “Do not Disturb” sign on the door. But deep learning is actually used for when computers teach themselves to do things with minimal programming and human input. Marketers can use deep learning to break down data and make predictions about consumer behavior, like in predictive analytics. Which means they can target offers better and make more sales.

Image recognition

Image recognition is starting to explode as the technology improves almost daily. Already used by scanning equipment in airports for holders with e-passports, facial recognition is spreading further afield. It’s now being used routinely by security companies, gaming, and even marketing and advertising. But how can image recognition technology work for advertising?

Retailers can use image recognition technology to tell when a customer walks into a store. The computer will pull up data on this customer based on their image. Marketers will see their past purchases and even items that they spent time looking at, to be able to offer them a targeted deal later on.

Also, if you had any designs on shoplifting from your favorite store, a word of warning – with image recognition and CCTV cameras, pretty soon there will be nowhere to hide.

Neural Networks

Neural networks are AI programs that are modeled on the human brain. How do they work? By incorporating both deep learning and natural language processing (like chatbots) to fulfill important functions, like recognizing faces in pictures and handwriting.

So, there you have it. We’re still at the tip of the iceberg where AI is concerned and there’s plenty more to learn, beyond its vocabulary. But, the next time you hear any of the above expressions, instead of looking blank, now you can join in the debate!