Artificial Intelligence (AI):
There are two types of AI, Narrow and General. Narrow is the most common current application of AI with General still in future developing state.
Narrow: Smart systems that have learned how to carry out specific tasks without being programmed on how to do it.
General: The type of learned knowledge found in humans, an adaptable form of smart capable of carrying out different processes based on its gathered experiences.
Example: IBMs DeepMind
Machine Learning (ML):
This is a branch of AI; It's the process of when data is collected, it can make decisions based on the input and information derived. Used mainly for predictions and insights.
Example: Uber algorithms
Natural Language Processing (NLP):
NLP is also branch of AI; that helps computers and us understand, interpret and manipulate human language. Most business NLP applications deal with the interpretation of language text rather than applying ML to its process.
Example: Sentiment Analysis for brands
Robotic Process Automation (RPA):
RPA is a technology where software performs rules-based processes and repetitive tasks normally done by humans.
Example: Website scraping
The importance of all the above is Data Governance:
Bad data quality will make it harder to automate your business costing you TIME, make it difficult to establish and CONNECT good data networks helping you with AI and produce incorrect INSIGHTS which will make it harder to COMMUNICATE autonomously and understand your business.
DATA transforms into
INFORMATION that drives
STORIES which execute
ACTIONS to build
BUSINESS GROWTH changing