The days of spreadsheets and paper records over. Your google search, travel history or even a tweet can be collected, analyzed and monetized. Complex algorithms and powerful computing devices allow us to process an increasingly large amount of information in real-time. CPUs will reach the capabilities of the human brain within the next ten years.
With the increasing computing power and innovation of technologies like Artificial Intelligence and Machine Learning, companies and organizations are thinking of ways to innovate their company. Data Science and analytics for insights on market, demand and the target demographic are vital when a company launch a new product or a service. Enterprises globally are adopting Artificial Intelligence and Machine Learning at a rapid pace. The trend of development of Artificial Intelligence in business is going to have an upward growth.
Data Science, Machine Learning and Artificial Intelligence are among the fastest-growing skills on LinkedIn, with a hike of 190% from 2015 to 2017. The demand for experts in Artificial Intelligence companies is on a constant rise.
What is Artificial Intelligence? Artificial Intelligence (AI) is a computer that can simulate human thought or behaviour. Machine Learning (ML), a subset of Artificial Intelligence, helps computers learn how to solve problems on their own. ML has made a series of breakthroughs which once seemed impossible. ML is a branch of AI where a class of data-driven algorithms helps software applications to highly predict the outcomes. Data Science employs disciplines like mathematics and statistics and incorporates data processing techniques like data mining, cluster analysis, visualization and machine learning. In short, Data Science not only focusses on algorithms and statistics but also takes care of the entire data processing methodology.
Examples of how Data Science is implemented in Artificial Intelligence
IBM Watson, an AI technology that can help doctors in quickly identifying key information in a patient’s medical record to explore treatment options and to provide relevant evidence. The program takes the patient’s medical records, provides its evident-based and personalized recommendation. The recommendation is powered by information from a curated collection of 300 + journals, 200 textbooks, and 15+ pages of texts. This gives doctors instant access to the information personalized to the patient and their treatment plan.
Blueberry, a robot that can perform and improvise comedy after being fed subtitles from a vast catalogue of movies. Kory Mathewson, an AI researcher at the University of Alberta, Edmonton, created Blueberry to perform a jig with him onstage. He trained the algorithm to create lines of dialogue to improvise his performance by rewarding it when the joke seems perfect and punishing it when it speaks nonsense.
Artificial Intelligence, Machine Learning and Data Science play a major role in shaping businesses of the future. Be it custom business applications, enterprise web application development, a digital transformation consulting or blockchain development company, these technologies make it a smarter one. Having doubts on how to implement Artificial Intelligence, Machine Learning and Data Science in your business? Say Hi for a free consulting. Evolve your business to be future-ready.
How does AI help in data analytics?
Artificial Intelligence is a collection of technologies specified to extract insights and patterns from large sets of data from platforms like Google Analytics, automation platforms, content management systems, databases and CRMs, and then process and make predictions based on that information.
How is Artificial Intelligence used in business?
Artificial Intelligence is beneficial in every sector of business and industries. AI helps businesses make better decisions according to infographics, understand the customer better and improve customer relations, increase sales, improved fraud detection, automate work processes and provide predictive analysis.
Is AI part of data analytics?
AI is part of advanced data analytics. AI analyzes data, makes assumptions, learns and provides predictions in detail.
What do data science companies do?
Data Science companies help organizations in identifying and building a robust data management layer, analyze the data to smoothen the business scenarios and generate insights to help companies make better decisions, and improve their businesses.
Does data science involve coding?
Yes, Data Science involves coding. However, it does not require extensive knowledge of software engineering or advanced programming.