It is possible to transform business with large amounts of data available in abundance these days. Artificial intelligence and machine learning have paved the way for businesses to handle large amounts of data efficiently and effectively. This allows computers to learn and interpret available data without being specifically programmed to do so. Hence, it can be said that Artificial intelligence and machine learning are transforming the future of technology in ways which no one would have imagined a decade ago. The same can be concluded from these quotes –
“Whether they are aware of it or not, every company is on a journey to AI as the ultimate driver of business transformation,” said Rob Thomas, General Manager, IBM Analytics.
“Artificial intelligence would be the ultimate version of Google. The ultimate search engine that would understand everything on the web. It would understand exactly what you wanted, and it would give you the right thing. We’re nowhere near doing that now. However, we can get incrementally closer to that, and that is basically what we work on.” —Larry Page, Google co-founder.
Uses Of Machine Learning
Machine learning has not only disrupted the digital world but has also helped industries including Banking, Finance, Management, Sales, and Transportation to mention a few. It is being used to prevent fraud, to identify important insights into data as well as to provide a more personal user experience in e-commerce.
Additionally, machine learning is not only being used in the private sector but the government too is using machine learning to provide public safety. Thanks to machine learning, the health care industry can now analyze and find trends that may lead to improved diagnosis and better treatment.
Artificial Intelligence And Machine Learning Are Close Friends
Artificial Intelligence and Machine Learning go hand in hand to help businesses with consumer data. “Consumer data will be the biggest differentiator in the next two to three years. Whoever unlocks the reams of data and uses it strategically will win.” Says Angela Ahrendts, Senior VP of Retail at Apple. The marketing industry is using machine learning to reach their potential consumers through techniques like email marketing. E-commerce websites are analyzing consumer behaviors to recommend products that might be useful to them. The importance of Artificial Intelligence and Machine Learning strategy in the current world can be measured by this quote from Devin Wenig, CEO eBay –
“If you don’t have an Artificial Intelligence strategy, you are going to die in the world that is coming.” The future is looking promising.
Artificial Intelligence Will Transform Every Industry In The Coming Years
Andrew Ng, Former Chief scientist @ Baidu and co-founder @ Coursera, compared Artificial intelligence and machine learning with electricity by saying
“Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don’t think artificial intelligence will transform in the next several years.”
This is how much impact technologies like artificial intelligence and machine learning are having currently on every industry in the market.
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