AI and Machine Learning; Where Are They Used Today

Artificial Intelligence and Machine Learning

Lots of technologies are in charge today. And AI is one of the most amazing ones. When it comes to Artificial Intelligence, an average person can imagine something from a sci-fi movie. Yet today, AI and machine learning are widely used in lots of industries and businesses.

We talked a little with the representative of Avenga AI company to get through where AI can be used today and what its principles are useful for business.

Main Principles of the AI Technology and Where You Can Meet It in Your Routines

AI in its essence is the scope of technologies and systems that form programs that work similarly to human intelligence. These technologies include data science, machine learning, neural networks, and lots of other systems and methods combined into one big technology.

The main principles of AI are based on three pillars:

  • Data. That technology operates big data amounts and it provides thorough data analysis and processing that brings results in the form of decisions, forecasts, solutions, etc. AI can process incredibly big data and get results that you may need to extract for years. For AI, it will take a couple of seconds.
  • Features. That is all that focuses on metrics. For each piece of information, AI distinguishes its features and provides decisions based on them.
  • Algorithms. The definition of algorithms is well-known to everyone. That is a system of sequential operations for solving a specific problem. In other words, a solution method. For each specific task, you can choose a separate elegant algorithm.

The speed and accuracy of the result of processing the initial data directly depend on the chosen method.

As for the implementation of AI and ML in our everyday life, you can see it in various systems from robotic doors in a next-block mall to your own smart home equipment. Moreover, if you use a next-gen household appliance, you can be sure that it also has some features of AI. You can also see it in your car’s computer, automated booking services or loan approvements that are also often provided automatically using AI.

Where You Can Use AI for Your Business Benefits

As for modern business, AI can bring lots of benefits if applied thoughtfully. In Avenga, business owners often apply for solutions that are connected with data processing and are called Business Intelligence. And AI offers them in the best way. You can use AI features in automation solutions for the following cases:

  • Data analysis and processing. When it comes to working with databases, i.e. your clients’ database, AI can cope with the task dozens of times faster and more accurately than any analyst.
  • Reporting. Business Intelligence operates complex algorithms that allow getting state-of-the-art reports.
  • Data visualization. That is also what AI can do for your business. You get information in its extracted and visualized form and you can do everything with it.
  • Simplifying decisions. Automated process of making a decision can save you time, and money, and provide an extra-fast response. That is what you can offer your customers. It can be the confirmation of customers’ orders, providing them with relevant emails, or making a decision on whether the customer is reliable (that’s what banks use).

Besides, it is worth consulting about the implementation of AI features in your business even if these cases are not relevant to you. Specialists can develop custom software with AI technology to meet your needs. Thus, the scope of use for it is almost limitless.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.