Several private businesses, today, are already utilizing the power of Artificial Intelligence in their own business and improving the ROI (Return-on-Investment) of products and projects. While the other sectors are using or planning to utilize the AI, Government sectors, too, are considering or somewhere utilizing this tech.
Last year, the United States Chief Information Officer Suzette Kent introduced the creation of the first Federal Data Strategy regarding how the agencies can leverage AI. During the announcement of the strategy, Kent pointed out that the technology modernization enables them the opportunity to rethink their foundation. They need to move aggressively towards the use of AI, along with Big Data and Analytics that can deliver a baseline value and exceed conventional solutions to find out in-depth insights. As the government gathers loads of data, the requirement for AI solutions to drive true value from that data escalates significantly. Governments from across the world have realized solutions very well. For instance, The UAE (United Arab Emirates) was the first country to assign a senior official particularly focused on AI empowerment and oversight within the government. Canada, another instance, was the first nation to release a National AI strategy. So, that means, AI makes humans tasks possible through learning and automation, including finding anomalies in data, pattern recognition, image, and video analytics, and much more. This technology, in analytics, can assist analytics programs in government to identify connections and trends in the data that human analytics might fail to spot due to complexity, scale, or other reasons. In addition, AI can uncover context in data, receive information from earlier explorations to make better outcomes for coming days. Though, from an analytics front, AI aims to perform in specific focused areas, including Machine Learning- Machine Learning as well as Deep learning find hidden insights to collect data without clearly being notified where to look or what to conclude. Natural Language Processing (NLP) – It allows understanding, interaction, and communication between humans and machines, automatically pulling out insights and evolving trends from an enormous amount of structured and unstructured data.
Artificial Intelligence is already being utilized in every sector of the financial system. Private sector companies make use of these solutions to stumble on efficiencies in their own business. Even, government agencies on all levels have begun to use it as well in a vast collection of applications like detecting fraud, allowing public safety, and empowering law enforcement and criminal justice agencies.