Benefits which MNC’s are getting from AI/ML..

What is Artificial Intelligence?

Artificial intelligence (AI) is wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence.

Artificial Intelligence Applications

As noted earlier, artificial intelligence is everywhere today, but some of it has been around for longer than you think. Here are just a few of the most common examples:

• Speech recognition: Also called speech to text (STT), speech recognition is AI technology that recognizes spoken words and converts them to digitized text.
• Natural language processing (NLP): NLP enables a software application, computer, or machine to understand, interpret, and generate human text. NLP is the AI behind digital assistants (such as the aforementioned Siri and Alexa), chatbots, and other text-based virtual assistance.
• Image recognition : AI technology that can identify and classify objects, people, writing, and even actions within still or moving images.

What is Machine Learning?

Machine learning is a branch of artificial intelligence that trains a machine how to learn. It’s the proposition that systems can learn from data, identify patterns, and come to a decision with only minimal human involvement. It’s used in a range of sectors, including tech, retail, and healthcare.

Machine Learning Applications

• Customer Service: Customer service is critical for the success of any business. Why? Because it’s an essential ingredient for retaining customers and increasing profits. We can see many companies using support-focused customer analytics tools enabled with machine learning to provide a higher level of convenience for their customers. One such company is Zendesk.
• Personalization and Search: In the last few years, forward-thinking companies have completely changed the online experience. Thanks to businesses such as Netflix and Spotify, customers can now enjoy the ultimate customer experience, one-on-one personalization. Personalization is an essential ingredient of Netflix. It allows each subscriber to have a different view of the content. By using a range of machine learning and recommendation algorithms, the homepage adapts to the subscriber’s interests and can help expand their interests over time.
• Security and Fraud detection: Cisco is one of those companies. They’ve managed to significantly improve their security and fraud detection by using the machine learning and analytics engine called Cognitive Intelligence. The engine it’s used to detect threats on a network by continually monitoring the behavior of the network for anomalies. In addition to detecting threats, it can also offer endpoint malware protection by analyzing the attributes and behavior of older malware.
• Image, Facial and Speech recognition: Many companies’ core business today is based on machine learning and image/speech recognition. Google, for example, uses ML in image recognition for Google Photos and speech recognition for Google Home and Google Assistant. Another company that heavily relies on ML is Apple. Today, millions of people talk to Siri, Apple’s own virtual assistant. The company has recently extended the application of its virtual assistant through its newer product HomePod, a smart home device.

Here are some examples of how companies uses Artificial Intelligence and Machine Learning

• Apple: Apple, one of the world’s largest technology companies, selling consumer electronics such as iPhones and Apple Watches, as well as computer software and online services. Apple uses artificial intelligence and machine learning in products like the iPhone, where it enables the FaceID feature, or in products like the AirPods, Apple Watch, or HomePod smart speakers, where it enables the smart assistant Siri. Apple is also growing its service offering and is using AI to recommend songs on Apple Music, help you find your photo in the iCloud, or navigate to your next meeting using Maps.

• Facebook: One of the primary ways Facebook uses artificial intelligence and deep learning is to add structure to its unstructured data. They use DeepText, a text understanding engine, to automatically understand and interpret the content and emotional sentiment of the thousands of posts (in multiple languages) that its users publish every second. With DeepFace, the social media giant can automatically identify you in a photo that is shared on their platform. In fact, this technology is so good, it’s better at facial recognition than humans.

• Amazon: Not only is Amazon in the artificial intelligence game with its digital voice assistant, Alexa, but artificial intelligence is also part of many aspects of its business. Another innovative way Amazon uses artificial intelligence is to ship things to you before you even think of buying it. They collect a lot of data about each person’s buying habits and have such confidence in how the data they collect helps them recommend items to its costumers and now predict what they need even before they need it by using predictive analytics.

• Alibaba: Chinese company Alibaba is the world’s largest e-commerce platform that sells more than Amazon and eBay combined Artificial Intelligence (AI) is integral in Alibaba’s daily operations and is used to predict what customers might want to buy. With natural language processing, the company automatically generates product descriptions for the site.

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