Every year in the world of car racing, the teams always try to create something new in order to improve their performance compared to the previous season.
As far as artificial intelligence is concerned, it’s the same: a racing championship, where teams choose the driver, mechanics, engineers, tyres, petrol… all super advanced.
While, for the engines and the chassis, the teams choose the projects of the 70-80s and build the cars to run the 2021 championship.
That’s the situation.
Artificial intelligence can do much more than what we have seen so far, so it should not be underestimated and we should not talk about “hype”. In fact, the possibilities are there, you just need to have the right algorithms in the right place.
In Backwell Tech. we started from scratch, just pen, and paper, with the goal of redesigning a new engine and a new chassis before building the car for the championship.
We could say it was a dangerous approach because along this road there are solutions already created, studied, and tested by others and in case of blocks of ideas or problems there are no solutions available to solve the problems.
The key, in our opinion, to ensure that artificial intelligence is used to the full, is in the user-machine relationship, conversational technologies in short.
In fact, once understood the user’s intention, algorithms can really help to give a useful result in a very short time.
To date, we have seen these technologies applied to simple things, like ordering takeaway or booking at a restaurant. But thanks to current advances in the world of Natural Language Processing and Natural Language Generation, it is possible to reach higher levels.
To give a few examples, just think of a law firm that before starting a case, could ask the software what the winning strategies were in and what the losing ones were. Today, however, in the legal world, AI is mainly used to catalog documents.
Another field of application is finance, where it is possible to create customized reports to explain to the investor why his portfolio is gaining or losing and why certain dynamics are occurring, practically a customized digital consultant for each client, a sort of chatbot-robot advisor, but very evolved.
In the world of sales managers, instead of the classic CRM, it is possible to have a software that suggests customized business strategies based on the customer you need to talk to, making easier negotiations before and during negotiations.
Thus, at the end of the day, there would no longer be the need to write daily reports on the sales day, it would be all automated through questions and answers.
The reports collected would be analyzed by the software, which would send interesting insights to the offices in the headquarters, thus providing a clue on operational activities and maybe giving suggestions for some business strategy.
In short, each sector can receive a lot of added value from such solutions.
We at Backwell Tech. started almost two years ago with the study and implementation of new algorithms that can support and not replace the human value.
The vision we are pursuing with our start-up is against layoffs, but we think it is possible to give people working in the company more time, to make them feel good and to help them maintain and improve the competitive advantage of the company where they work.