Understand How Artificial Intelligence and Machine Learning Can Enhance Your Business

Understand How Artificial Intelligence and Machine Learning Can Enhance Your Business

Automation is the key to success; every company is expanding on this domain’s expertise, as organizations take on a more global approach. Given the problems of decision making, learning, and the need for adaptability when understanding data, data scientists introduced the concept of Machine Learning within the realm of Artificial Intelligence. These practices have been able to bring about a radical change in modern business efficiency.

Artificial Intelligence is commonly a platform which performs tasks intelligently, without incurring the need for human intervention. On the other hand, Machine Learning is an exclusive part of the Artificial Intelligence world, which encapsulates the know-how and the logic behind making the concept of Artificial Intelligence a real success story. Through the use of Machine Learning, machines can be taught to work more sensibly, thereby allowing them to recognize different patterns and understand new circumstances with ease.

Machine Learning has come to be used extensively, especially when it comes to providing analytical solutions to the world of consumers and technology. Through large systems of data, Machine Learning has been able to drive solutions, which help create a more data-driven approach towards solving problems.

How Artificial Intelligence is Changing Enterprise Applications

Corporate enterprises are showing a growing interest in the field of Artificial Intelligence and Machine Learning. From IBM’s Watson to Google’s DeepMind to AWS’s multiple Artificial Intelligence services, there is a lot of activity happening in the market these days.

Other features of Machine Learning include the likes of Deep Learning, computer vision and natural language processing (NLP). With all these innovations languages in place, computers can enhance their functionalities, including pattern recognition, forecasts, and analytical decision-making.

By incorporating Artificial Intelligence and Machine Learning techniques in day to day functions, large enterprises can automate everyday tasks and enhance their overall efficiency in the long run.

Here are some ways in which Machine Learning techniques are helping enterprises enhance their efficiency:

Improving Fraud Detection: Fraud detection has become the need of the hour, as more and more companies are investing heavily in these new capabilities. With more companies falling prey to fraudulent practices, there is an imminent need to be ahead in the game of fraud detection. With Artificial Intelligence and Machine Learning in place, companies and organizations can extensively direct their resources towards enriching their fraud prevention activities, to help isolate potential fraud activities.

Loss Prediction and Profit Maximization: When it comes to deriving insights from heaps of data, there is nothing better than Machine Learning to prevent loss prediction and maximize profits. The stronger the techniques, the more foolproof the loss prediction methodologies would become in the long run.

Personalized Banking: In this era of digitization, everything is automated. For this reason, banks often seek to deliver customized, top notch, personalized experiences to their customers to keep loyalty intact. By leveraging their data, banks can aim to unearth customer needs and fulfill them with the utmost precision and dedication.

Robotic Financial Advisors: Portfolio management has become the talk of the town these days, especially since robotic financial advisors have stepped into the game. Clients can benefit immensely by this advancement, since the right opportunities are mapped with their portfolio needs and demands. Robotic applications are easy to merge with services such as Alexa and Cortana, allowing banks to provide exceptional service to their customers. Through this integration, financial institutions can hope to acquire new customers and also offer more individualized services to existing customers.

Next-Era Digital Traveling: Through the use of recommendation engines, travelers can experience the new recommendations for their travel aspirations. Organizations can play a role by allowing customers to converse with chatbots, which are created through the use of Artificial Intelligence and Machine Learning. As predicted by Gartner, by the year 2020, 25% of all customer service operations will rely on virtual assistant technology to make their business ends meet.

Detailed Maintenance: Through the help of predictive maintenance, industries like aviation, transportation, and manufacturing are expecting to be able to provide the best customer service in the market. Through the use of predictive models, such industries can accurately forecast prices and predict their losses, thereby, reducing any redundancies in the future.

With digitization paving the path of the future, there is a bright scope for companies and organizations which are investing heavily in these new age technologies of Machine Learning and Artificial Intelligence. Third party consulting services such as Idexcel are ready to help companies looking to take their first step with industry leading consulting and cloud-advisory services.

As we progress through the years, what should be interesting to note are the changes we will get to see in the various industries, as every sector aims to provide exceptional customer service to their customers in multiple ways.

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How Your Small Business can Benefit from Machine Learning

How Your Small Business can Benefit from Machine Learning

The practice of Machine Learning (ML) is no longer an exotic concept for businesses. No matter if you have a small business or a Fortune 500 enterprise; the chances are that you can benefit from the nuances of AWS Machine Learning. While prominent organizations have different ways of using Machine Learning than their smaller siblings, there is a multitude of ways in which even small businesses can benefit from Machine Learning techniques.

What Exactly is Machine Learning?

Machine Learning is a type of artificial intelligence which uses programs, algorithms, and data to drive learning and automation. Under normal circumstances, it’s something you most likely already encounter on a day to day basis. For example, if you are using software like Amazon’s Alexa, Microsoft’s Cortana, Google’s Assistant, or Apple’s Siri, then you have already had a taste of the power of Machine Learning.

On the other hand, Machine Learning and Artificial Intelligence can be used in businesses as well; it isn’t just for asking about the latest weather conditions. For instance, many websites are making use of chatbots to assist customers. Businesses, irrespective of their size, are using the likes of Machine Learning to help customers while driving efficiency and monitoring social media accounts.

How can AWS Machine Learning Help Business?

Amazon has established themselves as a leader in customer service and operations. Such execution can be found with the Amazon Web Services (AWS) Machine Learning tool. These data learning devices are aimed at catering to data scientists, researchers, developers and even small businesses who are enthusiastic to use Machine Learning to their advantage.

The extent of Machine Learning advantages is not limited to just the essentials. Solutions such as Amazon Comprehend and AWS DeepLens are some of the top-notch services being provided by Amazon these days. Through these services, developers can inherit the ability to use neural networks to gain insight with regards to computer vision projects.

Developers can also train chatbots, which can cater to a customer’s specific incoming request. Machine Learning and Artificial Intelligence can even be utilized to organize a website’s content, as various defined logical algorithms come into play. A small business can also coordinate their website’s inventory using artificial intelligence.

If you are running a small business, and feel as though you don’t wish to dapple in artificial intelligence alone, then you can count on the consulting services of companies such as Idexcel. Experienced teams are always available to help businesses of any scales accomplish their goals and increase their cloud repertoire.

How does AWS Machine work with Small Businesses?

Small businesses often need to use predictive models to enhance their revenue and sales models. One of the ways to improve these models is through the use of machine learning. Entrepreneurs, who are running small businesses, often don’t have sufficient time or the resources to sift through massive data and derive intelligent decisions out of it; this is where machines learning techniques come to the rescue.

Such business owners can benefit immensely from the use of AWS Cloud-based services and AWS Machine Learning. The vast amount of data which is collected can be sorted, sifted, and analyzed to deliver helpful business-related insight efficiently.

Through the use of machine learning, small businesses can save on operating costs, while at the same time make sound decisions, and earn better profits than before. However, it is import to know that small businesses cater to customers at different stages. For this reason, it’s imperative to understand how customer behavior can change from time to time. Through predictive analytics and machine learning, such tactics can become a breeze.

No matter what the type of business you have, machine learning can come to your aid at any given point in time. From data collection to data storage and insights you can have it all; it not only helps enhance your business’s image through the use of chatbots but also helps you manage your inventory efficiently. Such is the power Machine Learning gives to its users.

For every small business owner out there, there is a unique benefit that you will get with the use of AWS Machine Learning techniques. It all depends on how you use the services to meet your company’s needs and wants at the end of the day.

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The Future of Data Science Lays within Cloud-Based Machine Learning and Artificial Intelligence

From working in solitary cubicles to working with artificial bots, automation has come a long way and has changed how the modern generation works. Today, Artificial Intelligence (AI) and Machine Learning (ML) have become regarded as the future of tomorrow’s workforce and culture. At Idexcel, we have been keeping track of these ongoing trends.

It has been said that “with great power comes great responsibility.” If we tweak this statement a bit to reflect more contemporary times, we can also assuredly say that “with great technology, comes heaps of data.” The more we progress on the path of digitization, the more massive our datasets have become, and the idea that fascinates all data scientists is linked with the emergence of AI and ML technologies – how can they be used efficiently?

Here are top 10 trends that you should look out for as they shape the direction of data analytics in our future:

Augmented Analytics: This technology broadly utilizes the power of machine learning to automate data preparation and presentation. Through the use of augmented analytics, data scientists hope to be able to aid human intelligence, to produce rapid outcomes in different data-driven domains.

Artificial Intelligence and Machine Learning: Many of us might still be living in a bubble when it comes to AI assisted work. However, the fact of the matter is, that this bubble is going to burst. With robotics and artificial intelligence taking over at an increasing pace, there is a very heavy emphasis on getting data up and running to meet organizational goals. AI and ML will be used extensively to simplify work processes through the use of Big Data analytics.

Big Data: As technology has been advancing over the years and more affordable machines have emerged, faster processing powers have been available to businesses. Now, as cloud services are taking over traditional storage methods, there is a lot to look forward to regarding the increased output of processed information. As all these sources of information generate data, there is an imminent need to draw meaningful conclusions from the data – this is where Big Data comes into the picture. As the sources for storage get defined, Big Data provides excellent methods for allowing the manipulation of stored data to draw analysis and get the ball rolling.

Cloud and Edge Computing: One can easily say that technology has reached the Clouds. Companies such as Amazon, Google, and Microsoft are providing Cloud Services to organizations for storing their day to day data. Edge Computing, which is another form of shared computing, has become the next generation’s technology. Through the means of Edge Computing, organizations can overcome connectivity and latency issues, so that the distance data has to travel is reduced significantly. Edge Computing has seen an increasing rate of growth in mobile computing, as well as in the decrease of computer hardware. The rising use of IoT-enabled devices has ushered in an era of new technology.

Predictive Analytics: As more problematic situations emerge, there is a need to develop systems which can solve problems with ease and provide meaningful solutions. Predictive analytics prove to be the solution for such issues. The better the insights, the more structured are the solutions. Such are the capabilities of predictive analytics, as they help organizations gear up to tackle the worst possible issues.

Blockchain Technology: Digital currencies, such as BitCoin, owe their very existence to Blockchain technology. Given the success rate of cryptocurrencies, there is a lot of focus on merging Blockchain technology with the world of data science. The idea is to fuse the two methodologies together, to maximize the results. Since Blockchain technology is a versatile source, it can store any digital data; it has become a well-received option with data scientists.

As more and more organizations are taking analytics and data science seriously, there is an imminent need to progress to the next level of technology. Here at Idexcel, we work with clients every day to provide DataOps Consulting and Services; it has become an inseparable part of the modern organizational structure. As we progress into the future, the thin line between business intelligence and artificial intelligence will be removed; data will become smarter than ever before.

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Machine Learning’s Impact on Cloud Computing

Machine learnings impact on cloudcomputing
Increasing dependency on AI (Artificial Intelligence) and the (Internet of Things) have given new goals to cloud computing infrastructure administrators. The premises enfolding within this newly emerging subfield of Information and Technology are indeed very vast ranging from smartphones to robotics. Firms are developing new machinery requiring the least amount of dependency on human resources. Developments aimed at providing human-made mechanisms with levels of autonomy to become entirely independent.

To gain a level of autonomy over soft resources, developers have begun to depend on a mediator to assist ‘smart machines’ in increasing functional ability. As cloud computing is already taking over essential domains of human efforts such as data storage, this technological advancement will result in unprecedented impacts on the global economy.

Integrated cloud services can be even more beneficial than current offerings. The contemporary usage of cloud involves computing, storage, and networking; however, the intelligent cloud will multiply the capabilities of the cloud by rendering information from vast amounts of stored data. This will result in quick advancements within the IT field, where tasks are performed much efficiently.

Cognitive Computing
The large amounts of data stored in the cloud serve as a source of information for machines to gain their functional state. The millions of functions that are occurring daily in the cloud will provide vast sources of information for computers to learn. The entire process will equip the machine applications with sensory capabilities, and applications will be able to perform cognitive functions, making decisions best suited for them to achieve their desired goal.

Even though the intelligent cloud is in its infantile age, the propositions are predicted to increase in the coming years and revolutionize the world in the same way that the internet had. Expectations of those who would utilize cognitive computing including those in the healthcare, hospitality, and business fields

Changing Artificial Intelligence Infrastructure
With the aid of the intelligent cloud, AI as a platform service makes the process of smart automation more accessible for users by taking control of the complexities of a process; this will further increase the capabilities of cloud computing, in return growing the demand for the cloud. The interdependency of cloud computing and artificial intelligence will become the essence of new realities.

New Dimensions for the Internet of Things
Just as we are now aware how the IoT has overtaken our lives and created an undeniable dependency on gadgets, cloud-assisted machine learning is almost increasing rapidly. Smart sensors that allow cars to operate in cruise control will grasp their source of data from the cloud only. Cloud computing will become the long-term memory for the IoT where they can retrieve the data for solving in-time problems. The web’s massive of interconnectivity will generate and operate on an enormous amount of data saved in that very cloud; this will expand the horizons of cloud computing. In coming years, cloud-based machine learning will become as meaningful to machines as water is for humans.

Personal Assistance
We have already seen assistants such as Alexa, Siri, Cortana, and Google perform well in the consumer market; it is not absurd to think that an assistant will exist in every modern home by the next decade. These assistants make life easier for individuals through pre-coded voice recognition that also gives a feeling of human touch to machines.

Current assistant responses operate on a limited set of provided information. However, these assistants are very likely to be developed more finely so that their capabilities will not remain so confined. Through the increasing use of autonomous cognition, personal assistants will attain a state of reliability where they can replace human interaction. The role of cloud computing will be supremely vital in this regard, as it will become the heart and brain of these machines.

Business Intelligence
The tasks of a future intelligent cloud will be to make the tech world even smarter – autonomous learning coupled with the capabilities of understanding and rectifying real-time anomalies. In the same way, business intelligence will also become more intelligent wherein along with identifying faults, it will be able to predict future strategies in advance.

Armed with proactive analytics and real-time dashboards, businesses will operate upon predictive analytics that process previously collected data, making real-time suggestions and future predictions. These predictions from current trends and recommendations for actions would make things easier on leaders.

Revolutionizing the World
Fields like banking, education, and hospitality will be able to make use of the intelligent cloud, enhancing the precision and efficiency of the services they provide. Consider, for example, having an assistant in hospitals which diminishes doctors’ customary load of decision making by analyzing cases, making comparisons, and promoting new approaches to the treatment.

With the rapid development of both machine learning and the cloud, it seems in the future that cloud computing will become much easier to handle, scale, and protect with machine learning. Along with those mentioned above, more extensive businesses relying on the cloud will lead to the implementation of more machine learning. We will arrive at a point in which we will have no cloud service that operates as they do today.

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