What is Artificial Intelligence?
Artificial Intelligence (AI) is often conceived by humans as the smart robots we see in Hollywood movies. The reality is that AI is a much broader term that can be used in a multitude of real-world applications. In fact, anyone who’s reading this article interacts with some form of Artificial Intelligence in day-to-day life, like the deep learning algorithm (Which we will explore later in this article) that led you to find this article in the first place, like if you found us using a search engine. In simple terms, Artificial Intelligence as anything that can engage in humanlike activities.
To understand how Artificial Intelligence is becoming increasingly important in the business world we must first introduce two terms that are machine learning and deep learning, which are becoming of paramount importance to maintain competitive advantage in today’s rapid markets.
What is Machine Learning?
Machine learning is the term used for algorithms that can analyze a large trove of data faster than any human brain can, and by doing so it can identify patterns in data that allow decision-makers to make well-informed decisions. To better understand machine learning we’ll take the fan favorite streaming service Netflix and its recommendations system. You can often see that the movies and TV shows that are recommended to you strongly match your viewing history, your rating history, and your search history among other forms of feedbacks and ratings, compiled into a list of personalized suggestions that suits your household taste. This is achieved when the implemented algorithms analyze what you and people like you have watched and the feedback you provided and continue to provide. Netflix believes that this system is one of the systems behind its massive success as a global streaming service.
What is Deep Learning?
Deep learning is a subfield of Machine Learning inspired by the structure and function of the human brain called the artificial neural network. The main difference between older Machine Learning techniques and Deep Learning is that older Machine Learning techniques reach a plateau after a specific amount of data is analyzed, whereas Deep learning continues to learn with every bit of data analyzed to perform humanlike activities more accurately.
Why Deep Learning?
Slide by Andrew Ng, all rights reserved.
How is Artificial Intelligence Shaping the business world?
This deep into the article, you can establish a pattern of how Artificial Intelligence is shaping the present and the future of the business world. Let’s take a clothing brand for example, with a sample of 10,000 people, with different backgrounds, addresses, age groups, and g
enders. Imagine you had to analyze what each of the 10,000 individuals decided on when they were introduced to that brand, what did they decide to buy? What age group was most interested in the brand? what color sold the most? And many other questions that we can’t answer easily. If a human was to do the math for this many people, it would be exhausting and will take too long to accurately analyze the data and establish a purchasing pattern, thus losing time and consequently losing competitive advantage. This is where Artificial Intelligence comes in. It can analyze this data on the click of a button, with CRMs such as Microsoft Dynamics 365 integrating Artificial Intelligence into its platform; it is now enabled with more accurate than ever troves of data analysis, pattern identification, and reporting for decision-makers to achieve competitive advantage.
This is just one scenario of the many scenarios that Artificial Intelligence can come into play in the business world. We at Netiks believe that AI is the future of business. From our experience with Microsoft Dynamics 365 specifically, and AI in general, we have built systems that leverage Artificial Intelligence in a multitude of ways, in an easy to access, easy to read and comprehend dashboards, reports, graphs, and such. Not only that, but we have also developed Genetiks AI, a futuristic prediction system that matches customer profiles and behaviors with relevant offers and promotions using deep learning techniques.
Check our Video on Genetiks AI:
Bottom line is, we are more than ever relying on technology to elevate the business world. AI technologies are taking the business world to unforeseen heights, and we are here to build it with you. After all our MOTO is: Innovate, Deliver, Delight.