Artificial intelligence and business intelligence are crucial yet often misinterpreted tools in the context of business. The BI (business intelligence) vs AI (artificial intelligence) debate is a long-lasting one. Both AI and BI aid businesses in crucial decision-making, but there are significant differences that disarticulate the two.
Before considering the difference between artificial intelligence and business intelligence, let’s understand what they are.
AI (artificial intelligence) explores the usage of computer operations to simulate several attributes of human intelligence like problem solving, judgment, and learning. At the beginning of this technology, industries saw tremendous potential in artificial intelligence for decision-making, speech identification, and all-inclusive things in between. A study conducted by PwC in 2017 shows that more than 72% of business leaders think that adopting AI can “empower humans to focus on important work.”
BI (business intelligence) refers to the application of various tools and technologies to collect and scrutinize business data. The chief objective of business intelligence is to equip companies with valuable analysis and information to assist decision-making. Employing BI makes the decision-making process for a company more efficient and fast.
Comparison between Business Intelligence vs Artificial Intelligence
The “intelligence” in artificial intelligence denotes computer intelligence, whilst in business intelligence, it denotes the smart business decision-making that visualization and data analysis can produce. BI can assist businesses to bring order through the data they accumulate. But dashboards and visualizations may not be sufficient.
Artificial intelligence can enable business intelligence tools to provide clear, useful perception from the analyzed data. An artificial intelligence-powered system can explain the significance of every data point on a gritty level. Also, AI can aid human operators to learn how data can be interpreted in real business arrangements. By embracing the conflux of artificial intelligence and business intelligence, companies can incorporate vast amounts of data into unified plans of action.
Let’s take a look at the differences between artificial intelligence and business intelligence, and learn how they can together make modern business accelerate.
1. Contribution in the Course
AI contributes to subjects like Computer Science, Biology, and Psychology. The contribution is seen broadly where the algorithm mimics the pattern of the human brain.
BI is used by tools like Adhoc analytics, OLAP, and even business reporting. Business Intelligence is widely practiced in data analysis.
2. Research Areas
AI and BI are employed in research areas but the domain of work varies. AI is used principally in Robotics, artificial neural networks, and fuzzy logic. It is recognized for providing proper outputs that are practiced in white papers.
BI is generally used for methods like Data Warehousing and Data Mining. Also, it is used in network processes and big data like OLAP.
AI is used to build expert systems that employ human intelligence. On the other hand, the goal of BI is to present efficient and effective business solutions.
AI uses the algorithm that simulates the human brain. That is the reason why it is used for the development of applications like Robotics, Natural Language Processing, and Gaming.
BI is used for monitoring business activities. It is largely used as the center for querying and reporting software applications. BI is used in applications like Data mining, Spreadsheets, Digital dashboards, Business exercise monitoring, and Data warehouse.
AI is used to design professional structures and establish human expertise in machines.
BI, on the other hand, is ought to provide records that can enable high-quality and environment-friendly commercial activity choices at every stage of the business.
Integration of BI with AI
Artificial intelligence and business intelligence are observed together in the realm of data science. The incorporation of these two is acknowledged as a perfect match. Primarily, data science is employed by analysts to produce output for the analyses conducted in AI and BI. The research states that AI is managing several algorithms in comparison to BI.
The combination of Artificial intelligence with algorithms and business intelligence with data science is enormously employed for huge data management. BI with data science theories is used for arithmetical analysis. And AI with data science is employed for administered machine learning. This combination can be applied to design innovative dashboards for forthcoming technologies. BI with AI tools such as artificial neural networks has been used in seismology departments and meteorological departments.
Artificial Intelligence (AI) is at the core of an innovative organization to create a computational model of intellect. The most significant thing is that the ability of the human brain can be interpreted in terms of symbolic operations and symbol constructions which can be processed on a computer.
BI makes it possible for businesses inside a business to obtain actionable insight of data, and to take advantage of the insights to meet benchmarks. Business intelligence is an opportunity given to an analyst at a speed, complexity, and scale.
It is necessary to analyze the needs and choose a proper unit for application development employing a combination of both, artificial intelligence and business intelligence.