If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
The term "Industry 4.0" refers to the transformation of the manufacturing sector by digital technologies, such as the internet of things (IoT), artificial intelligence (AI), machine learning, robotics, 3-D printing, visualization, virtual/augmented reality and analytics. Automated management of assembly lines, inventories and even downtime for preventive maintenance has improved flexibility, throughput and productivity. The use of robotics in complex processes has helped enhance reliability and quality while reducing occupational risks. This transformation has thus far largely been limited to shop floors. Yet, there are three pillars that support the business of manufacturing companies: sales, production and service.
Artificial Intelligence (AI) and Machine learning (ML) are starting to feel a lot like the latest celebrity gossip--high on hype and light on substance. You can barely read a technology article or release today without someone espousing the latest AI/ML capabilities. The sales performance management (SPM) space, in particular, is one where the hype of AI/ML has not yet delivered on the hope of providing truly meaningful, actionable intelligence to customers--until now. Organizations must undergo a sales transformation to truly stay ahead in the fast-paced, competitive sales environment. It all comes back to the data, as well as access to vast computing power and readily available AI/ML algorithms.
Artificial intelligence, or AI as it's called, has been a buzzword for nearly a decade already, yet sometimes it still feels as though we're just in the early stages of discovering what predictive analytics and machine learning can do for enterprises. Nowhere is this truer than in marketing and sales functions. According to Forrester, as of 2017 marketing and sales accounted for more than 50 percent of all AI investments. But when you look at investors who have already sunk serious money into AI projects, only 45 percent have seen any results at all. And among those who are seeing results, 25 percent agree that they've become more effective in their business processes.