Artificial intelligence has traveled its way from fictional novels to reality. Machines could do the things that humankind can’t even imagine, which are currently being performed by machines and computers equipped with artificial intelligence and machine learning. Not only this, we can now even see the presence of artificial intelligence around us, it is now part of our daily lives. From your favorite voice assistant to your self-driven car, everything is equipped with artificial intelligence to make your life easier.
And not only in our everyday lives, but the use of artificial intelligence has entered the corporate world too, as many big companies are investing billions of dollars into this field. And the only reason behind such an inflow of investment is that companies want to increase the efficiency of their operations.
The adoption of artificial intelligence by business houses increases the scope of artificial intelligence and machine learning immensely. And it creates a perfect opportunity for young professionals working in this field or aiming to enter this field.
Artificial Intelligence And Machine Learning – Meaning
Artificial intelligence simply means the performance of the task by machines or computers which traditionally involves natural or human intelligence. Performance of tasks by artificial intelligence enables more refined processes and procedures. And thus, increasing the overall quality of the task being performed as it simply diminishes the possibility of any error. Artificial intelligence has garnered support from big business houses and governments as it enables them to perform their functions and task in a much better way.
True to its name, machine learning, is the in-built ability of the machine to learn by itself by studying the amounts of past data available and also by studying algorithms. Machine learning is part of artificial intelligence and can be known as an advanced form of artificial intelligence as it enables machines to learn and thus adapt to changing environments in a better way. This also means that a machine will work better and more efficiently as it can now increase its productivity by studying the vast amounts of data inputs available from users.
Along with artificial intelligence, machine learning is also the wave of the future. And are already being adopted into various fields to increase the quality of work. Currently, artificial intelligence is being used in a vast array of areas, ranging from designing, healthcare, defense, automobiles, finance, etc. And the continuous investment in this field will only mean more and more adoption of these into our daily lives.
And the whole of this hype around artificial intelligence and machine learning is real. This is the reason why new-age professionals are trying to add artificial intelligence and machine learning into their job profiles, as it provides huge value to their resumes. And this has given rise to many educators coming up with courses in artificial intelligence and machine learning. If one wishes to enter this field, then they must lookout for the best AI and Machine learning courses from Great Learning. Only a good course will help them in their career.
Use Of Artificial Intelligence And Machine Learning In Business
The foremost thing for a business is to increase its productivity and the quality of services provided to its customers. Business tends to improve their functions as it enables them to achieve efficiency and thus help in cost-cutting. And this is the reason why artificial intelligence and machine learning are being widely used by businesses and big corporations. Now, companies are infusing millions of dollars into this field intending to achieve maximum possible efficiency.
Artificial intelligence and machine learning help the business in many ways, and here will be discussing those –
- SUPPLY CHAIN MANAGEMENT – It is known to be at the heart of any business. As the supply chain ensures timely and efficient procurement of raw materials and resources for the business. The use of artificial intelligence at various stages of it will surely increase its efficiency and will reduce the chances of breakdowns. Thus, ensuring the smooth functioning of the business.
- MANUFACTURING – Gone are the days of traditional manufacturing. The manufacturing sector has gone through an automation revolution and now has many highly automated machines to manufacture goods. These machines ensure standard quality of products, cost-cutting, and at the same time immensely reduce the chances of errors.
- MARKETING – The study of algorithms by artificial intelligence helps businesses identify their potential customers in a better way. And this also enables them to run better advertisement campaigns as now they can focus on their customer’s expectations and also find ways to tap into more and more customers. Many businesses are using these artificial intelligence techniques to make their marketing more efficient.
- CUSTOMER DELIVERY – Artificial intelligence is making its inroads into the delivery sector, as many big companies like Amazon are planning to deliver their products to the customer with the use of artificial intelligence-equipped drones. And this will help business houses in a big way, as it will ensure timely delivery plus will also ensure that product is delivered in the right condition.
- AFTER-SALES SERVICES – Earlier, this was the area where many businesses used to struggle. Employing huge customer care staff used to be costly. Thus, artificial intelligence has helped business houses by providing them with what we call “Bot chat” functions, which is artificial intelligence acting as a customer care executive and catering to the complaints and queries of customers. This has resulted in huge cost-cutting for companies and also a better after-sales experience for customers.
- ACCOUNTANCY – With many accountancies software making its way into the corporate world, it has resulted in a better accounting function being performed. As of now, daily bookkeeping is automated, and thus, it provides a better way for businesses to monitor their expenditure. This helps a business to get a better grip on its financial position.
Conclusion
Artificial intelligence and machine learning are being highly used by business houses and thus create opportunities for young professionals to enter this field and provide businesses with more solutions by providing them ways to automate their functions.
And to do this, one cannot only rely on his knowledge of artificial intelligence. But one needs to focus on both artificial intelligence and business. And to get hold of this combination, one can definitely think of enrolling in the Great Learning’s pg program in ai and machine learning business applications.
