How AI and Computer Vision helps organisations monitor business operations

2 MIN Read

Last Updated on April 20, 2021 by Team Wobot

Artificial Intelligence is revolutionizing the business world by enabling businesses to work smarter and faster, achieving more with significantly less. The incessant advancements in technology and society are driving an increasing number of organizations to hunt for powerful, sophisticated solutions that will revamp and streamline operations.

Solutions based on AI technology produce more detailed, accurate, and meaningful business solutions that are highly sought after in today’s competitive market as a growing number of enterprises are turning to artificial intelligence to help revamp their businesses. For them, winning means harnessing the vast collection of data they have at their disposal, to gain valuable insights that will help them compete more forcefully by increasing productivity, minimizing costs and wastefulness, fostering revenues, and improving customer satisfaction.

It must be acknowledged that artificial intelligence is an umbrella term comprising different technologies. Computer vision, machine learning, deep learning, robotics, cognitive computing, natural language processing and knowledge reasoning are just some of the main branches of artificial intelligence. Many industries are adapting to holistic end to end business solutions supported by AI as it is capable of automating business intelligence and analytics processes.

Besides other AI technologies, Computer Vision is gaining the top spot as it is increasingly being used in AI monitoring & control systems to map and navigate the terrain.

Computer vision can be defined as the ability of cameras and other visual sensors to capture crude video and process it into useful, prosecutable information. We’re seeing applications of computer vision across a wide range of enterprises:

  • Insurance
    Financial Services

In the insurance sector, AI has been successfully used to reduce claims review cycle times. Many companies are analyzing satellite imagery to predict such things as mall sales and oil production. Computer vision is also being used to double-check a repair vs. replace decision — based completely on photos to analyze the damage on assets under a policy. This helps to make an informed decision on the beneficiaries who are eligible for coverage.

The past years have witnessed a paradigm shift in the automotive industry as it has extensively embraced computer vision with applications such as scene analysis, automated lane detection, and automated road sign reading to set speed limits.

The media world is no exception as it is leveraging computer vision to recognize images on social media to identify brands so help companies in strategically positioning their brands around relevant content. Computer vision is increasingly being used to let users visually search for items with photos.

Another major opportunity to use AI technologies for business goals is the continuous control and monitoring of the company’s infrastructure. A large number of multinational firms are using a combination of drones and AI image processing algorithms to inspect the equipment to avoid possible harmful injury or vandalization.

Camera vision is also the basis of AI enabled Video Surveillance systems that can enhance the safety and security of your business. These smart video surveillance solutions provide you with the comfort of knowing what’s going on around your company and meeting your specific organizational priorities, while staying within the budget. AI monitoring & control systems are a perfect fit for the urban environment as they help to reduce risks and provide a safety net for your company. Where industrial operations are concerned, computer vision is adept at monitoring the manufacturing of products and quickly detects errors, defects or other issues.

These are only a few specimens of AI and computer vision ideas that are in development or already in production. With the rapid evolution of AI, for many businesses, it’s not a question of if but rather when to adapt AI.