One of the ‘hot topics’ in every trending articles of the previous couple
of years is about Artificial intelligence (AI) and also about Machine
learning (ML), and rightfully so. They are transforming our lives unimaginably
and impacting our future in virtually every industry and on every human being. In
fact, they are the new buzzwords. AI has acted as the main driver of many other
emerging technologies like Big data, Robotics, IOT and many more.
We are data-rich but information-poor. AI plays a strong role here
and it is the engine today. It compels organisations to take AI-driven
decisions. Democratisation of analytics and data as a service will lead to the
creation of new marketplaces to buy and sell advanced analytics algorithms; the
virtual algorithm taking decisions based on heuristic data. AI will eventually
start mimicking the human mind. The error rate is already drastically reducing.
“If
you think about a camera, it really is the richest sensor available to us today
at a very interesting price point”
The market of machine brains:
A subset of artificial intelligence, machine learning allows
systems to make predictions and crucial business decisions, driven by data and
pattern-based experiences. Without humans having to intervene, the algorithms
that are fed to the systems are helping them develop and improve their own
models and understanding of a certain use-case.
How it is evolving:
What was once just a figment of the imagination
of some our most famous science fiction writers, artificial intelligence (AI)
is taking root in our everyday lives. Big data is a goldmine for businesses, but companies are practically
drowning in it. Yet, it’s been a primary driver for AI advancements, as
machine-learning technologies can collect and organize massive amounts of
information to make predictions and insights that are far beyond the
capabilities of manual processing. Not only does it increase organizational
efficiency, but it dramatically reduces the likelihood that a critical mistake
will be made.
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