In this article I will be talking about “How do machine learning and artificial intelligence technologies help businesses“.
In my previous post, I wrote something about Machine learning and Artificial Intelligence. I really explained what artificial intelligence is and also explained different concepts related to artificial intelligence, you can view the post at –
What Is Machine Learning And Artificial Intelligence?
Machine learning is the subset of artificial intelligence that focuses on building systems that learn or improve performance based on the data they consume.
Machine learning is when machines can take an algorithm (sometimes called “rules-based programming”) and improve it and “learn” over time as they interact with more data.
Types Of Machine Learning
- Supervised Learning,
- Unsupervised Learning, and
- Reinforcement Learning
Supervised Machine Learning
Supervised Machine Learning, also known as Supervised Learning, is a subcategory of machine learning and artificial intelligence. It is defined by its use of labeled datasets to train algorithms that to classify data or predict outcomes accurately.
Unsupervised Machine Learning
Unsupervised Machine Learning, also known as Unsupervised Learning, is a machine learning technique in which models are not supervised using training dataset Instead, models itself find the hidden patterns and insights from the given data provided.
Reinforcement Machine learning, also known as Reinforcement Learning is a machine learning training method based on rewarding desired behaviors and/or punishing undesired ones.
Reinforcement Machine Learning, is also a type of machine learning method where an intelligent agent (computer program) interacts with the environment and learns to act within that environment.
Uses Of Machine Learning
Machine learning is used in internet search engines, email filters to sort out spam, websites to make personalized recommendations, banking software to detect unusual transactions, and lots of apps on our phones such as voice recognition. e.g. of voice recognition include; The Goggle Assistant or Siri on the Apple Devices. Other uses are listed below;
- Image Recognition
- Voice Recognition
- Spam and Malware
- Videos Surveillance
- Social Media Platform
- Customer support
- Search Engine
- Real-time chatbot agents
- Decision support
- Dynamic pricing tactics
Artificial Intelligence or AI as most people call it is a term that refers to variety of mannerisms or techniques by which a man created machine tries to copy or mimic the human behavior.
Artificial intelligence (AI), is also the ability of a digital computer or computer-controlled robot to set tasks commonly associated with intelligent beings such as human beings (According to the Britannica). A term that works hand in hand with the ”AI”, is the AI Assistant.
Types Of Artificial Intelligence
We have three types of Artificial Intelligence namely;
- Reactive Artificial Intelligence
- Limited Memory Artificial Intelligence
- Theory Of Mind Artificial Intelligence
- Self Aware Artificial Intelligence
This type of ”AI” is what I will call garbage in garbage out ”AI”. In the sense that it only reacts to what it is given, it is programmed to produce a predictable output based on the input it is given. This type of ”AI” cannot learn actions or conceive of past or future. Examples of such “AI” include;
- Deep Blue, the chess-playing IBM supercomputer that bested world champion Garry Kasparov
- Spam filters for our email that keep promotions and phishing attempts out of our inboxes
- The Netflix recommendation engine
Limited Memory AI:
This is the most widely used “AI” today in the world. This “AI” uses pre-programmed information, historical events and past experiential data to make predictions and build experiential knowledge by observing this past data.
Theory Of Mind AI:
Here the “AI” is programmed to truly mimic the human behavior. The “AI” here can hold meaningful conversations and also emotionally intelligent. With this type of AI, machines will acquire true decision-making capabilities that are similar to humans. Machines with theory of mind AI will be able to understand and remember emotions, then adjust behavior based on those emotions as they interact with people. A very typical example of this “AI” is the “SIRI” that the APPLE industry uses on their smart phones.
Self Aware AI:
This is The most advanced type of artificial intelligence . When machines can be aware of their own emotions, as well as the emotions of others around them, they will have a level of consciousness and intelligence similar to human beings. This type of AI will have desires, needs, and emotions as well. Sadly This particular type of “AI” has not been developed yet, the algorithms and hardware needed to develop this is non-existent.
Importance Of Artificial Intelligence
- Makes life easier
- Improved time rate of tasks completion
- Used in the Medical Sciences, to improve the chances of saving a life.
- Used in the transportation industry, especially travelling by air with improved navigation systems and maps.
- Used in the banking system to complete online transactions and also used to complete day to day tasks in the bank.
- Used in the gaming and entertainment industry, e.g. the Xbox and PES Consoles. Etc.
How Do Machine Learning and Artificial Intelligence Technologies Help Businesses
I will talk about how Machine Learning technology helps in businesses first. Machine learning helps businesses use preventative maintenance to decrease equipment breakdowns and increase profits. With machine learning, businesses can leverage consumer data to build useful customer profiles, increase sales and improve brand loyalty.
More examples listed below;
- Helping you do more with less: Due to the prediction ability that the Machine Learning technology posses, this will help an entrepreneur to predict outcomes and be able to make sound business decisions.
Automating Routine Tasks: The lack of IT talent, can be a disadvantage for a business man or an entrepreneur but with the help of machine learning, Machine Learning can become your indispensable team member that will help you out in the automating of routine tasks.
- Maximizing Efficiency: Generally Machine learning help out with decision making, with this feature you can as well use it to retrieve needful information from bulky or complex data sources remove pointless touchpoints and manual tasks to be able to maximize efficiently.
- Helps to solve Complex problems: Machine Learning helps an entrepreneur to solve complex problems that he/she would have spent hours trying to solve.
- Helps to speed up the process of finding out the needs of the consumers and satisfying those needs efficiently and quickly.
Now in Artificial Intelligence.
- Boost Revenue With Product Recommendations
- Chatbots For Enhancing Customer Service
- Creates an efficient marketing strategy
- Helps to grow your business through sales forecasting
- Boosting efficiency through process automation
- Improving the speed or consistency of service
- Using customer insights to inform decision-making
- Uncovering opportunities for new products and services.
Conclusion: With the help of Artificial Intelligence and Machine Learning your business will be unstoppable