ARTIFICIAL INTELLIGENCE (AI) & MACHINE LEARNING (ML)
Artificial Intelligence (AI) is the intelligence exhibited by machines. The term “Artificial Intelligence” is applied when a machine mimics “cognitive” functions that humans associate with other human minds, such as “Learning” and “Problem Solving”.
Machine Learning (ML) is a class of algorithms that automates analytical model building and gives computers the ability to learn without being explicitly programmed. Using algorithms that iteratively learn from data Machine Learning allows computers to find hidden insights without being explicitly programmed.
HOW TO USE THEM
Artificial Intelligence and Machine Learning are strategically important for driving enterprise strategies.
Artificial Intelligence has tremendous uses in practically ALL Businesses, often when people hear “AI” their mind jumps to thinking about robots, but before getting to that point there are many more important uses of “AI”,
in your business the application of “AI” can enhance Business Efficiency.
Every day, new examples are coming out of new problems being solved and old markets being disrupted by what is collectively called “AI”. Broadly speaking, Artificial Intelligence can support three important business needs:
- Automating Business processes
- Gaining Insight through Data Analysis
- Engaging with Customers and Employees
However, even as the Technology advances, companies still struggle to take advantage of it, largely because they don’t understand how to strategically implement Machine Learning in service of Business Goals.