Importance Of Artificial Intelligence In Today’s World

Artificial Intelligence as we all know is the growing or rather already adopted a branch of computer science which every individual or company is well aware of in today’s time. It’s the ability of a machine to be controlled via a computerized system to carry out different tasks in an efficient and organized manner, without much of the human intervention. Although it demands a high and robust coding experience, but looking at the massive advantage of implementing it at an individual or organizational level cannot be ignored.

Artificial Intelligence and its Usage

AI has been widely used in every industrial sector one can think of. Be it creating Virtual Assistants or Chatbots for a business website or its use in Retail, Fashion, Health, Sports Analytics, Manufacturing and Production, Autonomous Vehicles, Logistic Supply Chain etc., artificial intelligence is everywhere. Alexa and Google Assistant can be taken as two of the best AI-based virtual assistant examples to demonstrate how this technology has reached the lives of the common people in their day-to-day activities.

How does Artificial Intelligence work?

This is one of the most specific and desired to know questions by every individual who is related to the field of Information Technology i.e. how does AI work or what is the mechanism and working method behind Artificial Intelligence? Basically, AI systems work by combining large sets of data and leveraging their interactive processing algorithm to detect and learn the pattern and features in the data that it analyzes and constantly tries to test and measure its performance for better output results. The primary objective of the whole of the AI science is to build a computer system which will be capable to think like humans and act accordingly to solve complex problems in the shortest possible time.

Artificial Intelligence

Why Artificial Intelligence is important in the modern world?

Today’s world is all about automating the whole of our daily tasks; be it for an individual or from a business prospective. Especially if we look from an organizational point of view, Artificial Intelligence is very much essential since it reduces the time and effort of the employees and accordingly they can work on other productive tasks.

Also, integrating this technology for companies working in industrial sectors like logistics, supply chain and manufacturing can boost their sales and production lineup in their factories since a whole lot of tasks can be accomplished by robotic automation. Here, we can take the example of BoldTek; an IT service provider which leverages AI and ML-based predictions for manufacturing and functional defect of the product lineup for one of their global hi-tech clients.

Can artificial intelligence replace human intelligence?

Although incorporating Artificial Intelligence can hugely benefit the lives of common people and businesses but there is always a question that arises in every people’s mind – can Artificial Intelligence replace human intelligence? Well, in my personal opinion, maybe not because it’s the human intelligence that is working behind the scene and still holds the advantage in guiding effectively the work process of this technology. But, yes maybe to some extent it can replace a few jobs which are still in demand in the current market, although we know with new innovation and technology there arises a whole lot of opportunities and careers which people can pursue to live a happy and sustainable life.

AI and Human Intelligence

PC: freepik

Artificial Intelligence and its future growth

There is no denying the fact that Artificial Intelligence is the next future technological advancement where tech enthusiasts and companies would definitely like to shift their focus to leverage a bigger impact on society. Job seekers who are in the field of information technology can definitely look for career options like Big Data Engineer, Data Scientist, Machine Learning Engineer, AI Data Analyst etc. which can bring enormous growth to their professional careers. Also, tech giants like Google, Amazon and Huawei have already invested billions of dollars in their R&D for strengthening their services, product delivery and new innovation for and by the use of Artificial Intelligence.

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Samiran Sarma April 29, 2022 0 Comments

How ML Transforms Business-A New BoldTek Series

How BoldTek can leverage Machine Learning to help businesses make better decisions:

Unless you’ve been living under a rock for the past couple of years, you must’ve heard about Machine Learning, through various blogs, websites, LinkedIn posts, other social media articles or even memes like these

Eric Jang: Machine Learning Memes
DeepLearning.AI on Twitter: ""I understood that reference!" - Steven G.  Rogers Created by: Machine Learning Memes for Convolutional Teens… "

In crude terms, Machine Learning, or ML as it is colloquially used, is a field of study that provides machines with the ability to “self-learn”.  In more technical terms, ML helps computer systems develop algorithms that improve automatically through experience and by the use of data. Feed it enough data, the system will train itself to see patterns, connections and dependencies within various facets of the dataset, and will come up with an algorithm that best “fits to” and “explains” the data.

“Data is the new oil” Now there’s a cliché. But just like mechanical systems need oil to function, systems that employ ML need this new oil, data, to function. An ML algorithm will only be allowed to be as good as the data it is fed.

What Machine Learning can do for Businesses

There’s certainly no dearth of data. Businesses and firms are creating ginormous amounts every day. Extracting useful information from it and running an ML model on top can help make crucial forecasts and predictions and much better business decisions to increase profits or productivity. ML models could also analyse historical data to predict any potential problems or pitfalls the business might face.

ML models, by analysing the business’ data, would often be able to identify and unearth relationships and correlations that would not be possible for a human brain. In fact, it is nearly impossible for a human resource to even shift through such large datasets. Not to mention, a good ML model could also do away with a lot of human resources requirement, leaving them free to focus on other important tasks.

Another important area of ML is time series forecasting, which helps in prediction of events through a time series, or a sequence of time. The technique predicts future events by analysing the trends of the past, assuming that the trends will continue in the future. This is highly useful for businesses as it aids them in predicting highly useful metrics like stock prices, sales, turnovers, etc.

How BoldTek can help businesses with Machine Learning

BoldTek is committed to leveraging data and Machine Learning to help firms make better business decisions. ML has become an important aspect in businesses across the globe and across various categories of industries. And with so much data involved every day, ML can play a very useful role in a businesses day to day operations.

BoldTek’s ML capabilities can make use of data generated by business firms and pave a way for them to navigate it. Various patterns, correlations and cause-and-effect relationships can be unearthed which would be beneficial to the companies. For instance, a possible scenario where BoldTek might be able to help food delivery services would be to analyse data on a customer’s previous ordering patterns, like their frequency of ordering, preferred restaurants, favourite dishes to suggest similar restaurants or predict and suggest personalized offers on those particular dishes for that particular customer on their next order.

ML can also be of immense help in predicting important indicators like sales, profits, etc. This could especially be of great help for early age start-ups, who will be able to leverage these capabilities easily to boost their operations.

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Samiran Sarma June 14, 2021 0 Comments
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