We are living in a time where “data” has surpassed the value of most things in our economy. Good, reliable data has the power to transform jobs and industries. But how does all this data get processed and analyzed? Well, that’s where AI technology and machine learning comes in.
Differences between AI and ML
AI is a part of the greater field of Computer Science that enables computers to solve problems previously handled by human labor. It is an umbrella term for machines that can simulate human intelligence and has many applications in today’s society, which includes ML.
ML is an application of AI that provides systems the ability to automatically learn from data and improve from experience without being explicitly programmed. ML can help to generate, manage and make sense of data, providing meaningful insights.
Benefites between AI and ML to buisness
- Efficiency and productivity gains
- Improved speed of business
- New capabilities and business model expansion
- Better customer service
- Improved monitoring
- Better quality and reduction of human error
How to implement AI/ML in business
From choosing the right AI-powered tool to setting up the right data inputs and workflows, implementing AI can be cumbersome for companies. There needs to be an understanding of how AI works, the advantages it creates, and its various applications. To take your business to the next level using AI/ML, it can help to partner with an experienced specialist who understands how to develop and integrate a strategy that best suits your requirements.
Conclusion
Artificial Intelligence and Machine Learning are sometimes used interchangeably, but they have different definitions. AI is an umbrella term for machines that can simulate human intelligence, while ML is a subset of AI. Predictive models powered by AI/ML can help businesses increase revenue by extending data analytics efforts to gain insights at a greater volume, quality, and speed. If you want to apply AI solutions in your company to enhance business processes, it can help to partner with an expert with in-depth knowledge and experience.
