Reference no: EM133031021

Put a comment on those two post, the Professor asked us to comments to our classroom post on blackboard

1. The world is ever evolving and the technology that comes along is also evolving and adapting at a record rate. In just over the last 60 or so years, AI research and development has been able to outcompete humans in many categories. Some of these include video games where the AI can put in inputs on a controller much quicker than a human, bots to put items in carts to secure goods, and even to the "future" of self driving cars. Artificial intelligence is already being used in many businesses, including banks. Banks are using AI systems to identify potential risks and fraud. They by running records of the recent purchases and compare them to your "typical" spending locations and prices. If a difference is identified, then an alert will be sent to not only you, but also your banker who can then help you with taking the appropriate action. Artificial Intelligence are able to analyze unstructured data which in turn saves the company time and money for financial service companies. In the bank example, the AI can lower operational, regulatory, and compliance costs as well as provide reliable credit scorings for credit decision-makers. The downside to any and all AI is the ability for it to be hacked and the consumer to be at risk. If the system is hacked, it would give the hacker access to confidential information as well as potential user names and passwords. Actions are being taken to prevent such attacks on the system, like any precautions for a regular website which includes firewalls and increased security around the weak points.

2. Artificial intelligence is probably one of the most innovative forms of technology made by mankind. It is used everywhere from our cell phones to the newest laptops and computers. It is especially useful in the use of data analytics. We all participate in data analysis most of the time without even noticing it. The amount of data mining our phones lone is impressive. It is how advertisements that are tailored to our preferences are able to show up just for us and be right at our fingertips in seconds. Artificial intelligence is at work even when we don't realize it. It is reaching a point to where it is much more sophisticated than it used to be and can even replace basic human functions.

In terms of data analysis, certain aspects such as data mining would be nowhere near as sophisticated as it is today without the use of artificial intelligence. It is also constantly getting more efficient and powerful as time goes on. There is an article I found that states that "Research in the field of artificial intelligence is aimed at developing techniques that make expert systems more efficient and provide them with greater reasoning power" (Corchado, 1998). While this may seem obvious, the key word here is reasoning power, that gives artificial intelligence the ability to make sense of data and to make it useful for us. If this gets stronger, then data mining will continue to be more effective in human data analysis.