Use of ML and AI technologies in business

Oliwer Kotecki
2 min reading

The innovations available thanks to machine learning (ML) and artificial intelligence (AI) allow us to solve the problems faced by business on a daily basis. Many entrepreneurs have already seen an opportunity for faster development fostered by the investments in these technologies. The multiple possibilities of algorithms and tools using AI and ML make most companies able to find their practical application that will increase the efficiency of everyday work activities.

Machine learning and automation

By definition, ML should have a high practical benefit for the user. Thanks to the technology, it is possible to solve problems that occur every day in many companies. Data that exists in the company's system can be analyzed and modeled from the beginning based on dependencies that exist in the database. The machine is able to draw conclusions on its own and learn from the available information without the need for a human to intervene in the entire process. Thanks to this, the user is able to get answers to important business questions and solve everyday problems.

Currently, companies mostly use universal ML models that are able to process large amounts of data in real time, finding recurring patterns and detecting anomalies and errors. ML is also capable of noticing behaviors that would likely go unnoticed by a human eye.

A technique related to machine learning is called "deep learning." It is a method of machine learning method based on neural networks that is used to solve more complex problems that include image analysis, natural language processing, and classical ML techniques. The extensive use of this type of algorithm and the continuous development of its performance have made it currently the fastest growing area of AI.

Benefits of using AI in the businesses

Artificial intelligence can be used in almost every aspect of business. In marketing, it is advertising personalization and campaign targeting. Thanks to ML, the sales department can create an optimal offer for a given customer, which if it turns out to be successful , maximizes the company's profit. On the other hand, in the e-commerce industry, AI is responsible for suggesting to the buyer products that are likely to meet his interest and be bought by him. Ai is also used to predict future events, behaviors and trends, and to protect companies from unwanted effects. Historical data and time series make it much easier to forecast sales and their possible deviations in the future. By monitoring stock levels, AI signals when exactly the amount of a given product needs to be refilled. Moreover, when our business suffers from a bad streak of events, thanks to artificial intelligence, we are able to identify the factors that led to the deterioration of the situation. This may include marketing activities, sales, the condition of devices or satisfaction of the customers with the services provided to them.

The method of implementing AI in the operational activities of companies depends on the industry and should be selected taking into account the individual needs of the business. For example, financial institutions are usually interested in assessing the risk of investments, while large companies use algorithms to manage human resources. Automating business areas related to Big Data processing allows the company to optimize daily activities and work faster and more efficiently. There is no question that AI is the technology of the future.

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