Artificial Intelligence Vs Business Intelligence
When looking for the right comparison of artificial intelligence vs business intelligence, the first step is to understand the differences between the two.
Artificial Intelligence is an application that mimics or copies human behavior, it uses sophisticated software to gather and evaluate large amounts of data and then use that information to make predictions or to decide on a course of action. On the other hand, Business Intelligence is a set of techniques, tools, and best practices that allow businesses to make more informed decisions about their interactions with customers, clients, employees, and suppliers. Both are necessary to effectively operate in a fast-changing business environment. In addition, understanding the difference between the two can help you determine the appropriate technology for your company.
Artificial and Business Intelligence Explained
Artificial Intelligence is often compared to supercomputers like IBM’s computer, the Watson. Watson can perform a variety of tasks, including speech recognition, pattern matching, and recognition of natural language, and speech transcription. One of its most popular uses is in answering consumer questionnaires.
On the other hand, business intelligence encompasses many different domains, including:
- organization and execution
- product and customer management
It is generally defined as a set of approaches, tools, processes, and models that improve business performance. It does so through the identification of business intelligence (BI) gaps or by identifying the need for restructuring activities.
Perks of Using AI for Business Help
There is a common belief that artificial intelligence will be superior in the long run due to its adaptability and ability to learn with time. First of all, AI’s potential for adaptive learning is enormous. Though the range of topics that humans have mastered is wide and continues to grow, with a few exceptions such as grandmaster-level chess playing or musical composition, human beings do not learn at a superhuman rate. Humans can learn from each other with relative ease. However, they require lengthy processes of training and education to traverse even medium ranges of knowledge space. The path from novice to expert in most fields takes years if not decades. By contrast, machines can learn from their own mistakes at a vastly accelerated rate.
Secondly, artificial intelligence may not be superior to business intelligence in intelligence alone, but it is more suitable for specific tasks. Artificial intelligence is best suited towards repetitive and automated processes that follow simple and explicit rules. Business intelligence excels in adapting and adjusting to new information quickly and effectively, making it more versatile than the rigid structure of artificial intelligence. It is important to balance the strengths of both types of software as they are both necessary for businesses to grow efficiently.
Why One Might Choose Business Intelligence Instead?
On the other hand, artificial intelligence is not superior to business in terms of adaptability. The ability for machines to learn with time is what sets them apart from other technology. For example, the AI behind Google’s driverless cars can learn how to drive more safely based on its own experience rather than being programmed with specific rules. This could be useful in scenarios where there are no pre-existing guidelines regarding road safety. However, this also means that the car has no pre-programmed rules on how to behave in emergencies such as veering into a wall or an oncoming vehicle. In contrast, business intelligence software learns about patterns as they arise and as new information appears without requiring any additional programming.
Another area where AI is at a disadvantage with business intelligence software is in terms of creativity. Artificial intelligence can copy tasks humans are already performing. Unfortunately, it cannot invent new ways of achieving these tasks without being explicitly programmed to do so. This way, Google’s AI can write human-sounding articles when fed with existing information on specific topics through its natural language generation process. But, if given no information regarding the topic, it will not be able to generate anything original on its own. By contrast, business intelligence is capable of generating insights that are not immediately apparent. It does so by looking at data from different perspectives and using this information to create reports and visualizations. This enables businesses to perform better. All in all, artificial intelligence is more adept at completing repetitive tasks, while business intelligence software is better at identifying new trends and opportunities.
What are the main differences?
Artificial intelligence is a system that can complete tasks that otherwise would require human intelligence. The artificial intelligence software acts essentially as a robot. In business, artificial intelligence is used by companies to gain insight from massive data sets to make smarter decisions. In AI, this type of technology has been around for decades though it’s only recently become popular. Examples of business intelligence software include:
Therefore, the major difference between artificial and business intelligence is that one focuses on completing tasks while the other – on gaining insight for better decision-making.
Ultimately, artificial intelligence and business intelligence are just tools that can be used together to help people work more efficiently. Artificial intelligence is good for automating processes. Business intelligence helps people make sense of the data that powers these machines. By combining their strengths into a single system, businesses can derive even greater value from their technology investments.