Business artificial intelligence

Business AI is to expand business potential through applied artificial intelligence

AI is a combination of different technologies, which operate more like human minds than computers. Algorithms, for example, are programs designed to emulate human workers' thought processes and decision making. Each year AI becomes more mature and really practical useful for businesses. AI is creating value for companies across different industries by streamlining processes, optimizing data, providing recommendations, and automating tasks. These automated tasks analyze business processes, business environment and other parameters to determine the best operational configuration.

Applied research in business AI

Merging business studies with data science allows for the creation of valuable scientific and practical insights into complex mechanics how businesses should function. This is applied research to help companies tackle value opportunities based on their unique operations profile, whilst also building a talent base in the domains of artificial intelligence and operations management. The figure below depicts how artificial intelligence business applied research and nable companies to achieve enhance performance. In order to succeed, companys need to be commited to the digital transformation.

Figure 1. AI business applied research enabling companies to achieve enhanced performance levels (Koppel 2022)

Our goal is to forge dynamic partnerships with businesses that is based on real-world data, mentorship and AI talent development to help drive AI integration into existing corporate systems and to create new business models.

We look for partnerships with businesses that are investing in and deploying AI solutions aimed at improving their business operations. These technologies are the backbone of company's digital transformation programs and give rise to informed strategic decision-making.

In order to make informed strategic decisions about the use of key AI technologies in business, organizations need to develop working models that take into account the specific needs and goals of the organization. This will help ensure that the AI technology is used in a way that supports the organization's overall objectives.

When companies grow more accustomed to AI tools, they look for implementing solutions that integrate aspects from all categories of AI. When considering AI, it is beneficial for companies to focus on business capabilities rather than individual technologies. In general, AI can help with automating business processes, analyzing data, and improving customer and employee engagement. In business AI empowerement level, companies can be classified into five categories, as shown in figure 2.

Figure 2. Business AI empowerment level: LEVEL 1 - the company does no or little data analysis, and has no AI implementation ... LEVEL 5 - full scale AI implementation utilizing most of AI tools categories, the company's operations, financial results and value are highly dependent on AI technology (Koppel 2022).

There are several categories in which companies can implement AI solutions. The followoing three are the most widely used: process automation, empowering data assets, virtual agents.

Process automation
Process automation includes both digital and physical tasks automation.
The most common business process automation is automation of administrative and financial activities by robotic process automation.

Empowering data assets
Businesses use algorithms to detect useful patterns their data in order to make informed decisions. Most commonly, businesses would like to know:
What products/services is a particular customer likely to buy?
How can cases of fraud be detected in real time?
What does warranty data tell us about safety or quality issues in our manufactured products?
How can digital ads be targeted more effectively?

Virtual agents
Businesses use AI to engage their employees and customers using natural language processing (NLP) chatbots or virtual (provate) agents. Companies launch agents, for example:
- virtual customer service agents are available around the clock to address a broad range of issues
- Company's internal services are also available to answer employee questions on topics such as IT, employee benefits, job specific training and HR issues.
- Systems that recommend products and services that are personalized, engaging, and increase sales, typically including rich language or images.

We organize training seminars and courses to companies, organizations and professionals. The subject emphasizes the development of skills to learn to implement artificial intelligence solutions, and to work faster, reduce costs by combining the processes and resources of the company.  The aim of the trainings is to equip participants with the knowledge and practical skills on how to apply artificial satellite (AI) solutions at different levels of the organisation and in different areas of the economy.  In the course, the participants will learn to choose the right AI applications for their target activities and organizations, and also assess their effectiveness compared to traditional, manual or non-AI solutions.
These trainings provide the skills to select, implement and thereby also to design and realize effective business processes empowered by the AI.

An example course focuses on key factors related to the implementation of artificial intelligence, including:
1) an overview of AI solutions for different economic sectors,
2) AI solutions at different stages of activity, e.g. machine, department, company, etc.,
3) successfully implemented case analyses of AI solutions,
4) potential use examples from different activities and different organizations.

An example course consists of points related to AI solutions, including: Basic concepts and foundations of AI; Implementation of AI in business; Customer service filters; Fraud detection; Forecasting failures in waiting, service; Flexible management in production, service; Massive monitoring; Risks related to information technology for small and medium-sized enterprises; Chatbots, Autobots, virtual assistants; Reducing the workload of customer service representatives; Maintaining customer relations; Analytical tools; Precision-directed sales; Predicting consumer behaviour; Digital customer procurement tools; Recruiting new staff, targeting specific skills; Aspects of legislation in the implementation of AI; Reducing administrative expenses and time; Decision support systems; Human factors and safe AI.

We are increasing regional AI capacity by collaborating with our academic partners throught northern Europe. We are looking to establish a network effect from the community of experts from the academia and industry likewise. Taltech is a leading partner in the AI and business society, which is a knowledge exchange platform in the fast paced domains of business analytics, operations management and machine learning.

We strive to develop local AI talent amongst students and create a supportive ecosystem that teaches you to use the tools they need to succeed in the complex world of big data. We provide you with the opportunity to apply AI to real-world industry problems. You will learn how to define use cases, communicate with partners, and to build models through teamwork.