The Many Possibilities of Machine Learning and AI

6829374625_11533e23f5Lars Hard of Beta News recently wrote, “Artificial intelligence (AI) has become a bit of a buzzword among technology professionals (and even within the mainstream public) but truthfully, most people do not know how it works or how it is already being integrated within leading enterprise businesses. AI for businesses is today mostly made up of machine learning, wherein algorithms are applied in order to teach systems to learn from data to automate and optimize processes and predict outcomes and gain insights. This simplifies, scales and even introduces new important processes and solutions for complex business problems as machine learning applications learn and improve over time. From medical diagnostics systems, search and recommendation engines, robotics, risk management systems, to security systems, in the future nearly everything connected to the internet will use a form of a machine learning algorithm in order to bring value.”

Hard continues, “While it is more widely known that machine learning is utilized as a way to provide recommendations or suggestions on platforms such as Pandora and Spotify and with ecommerce companies such as Amazon and eBay, many may not know that machine learning and data mining are also employed within businesses to provide intelligent business insights via utilizing data and employing predictive analytics. By incorporating the data that an organization already has at hand, and applying predictive algorithms, organizations are beginning to be able to create adaptive pricing models depending on customer behavior. In turn, they also can predict what future customer demand may be and adapt their inventory of product as such. Machine learning allows companies to take their data to the next level and develop even more intelligent insights by gathering, processing and analyzing the data and improving and learning over time.”

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