AI/ML

By Vineet Bawa

Student- PGDM

Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions.

• Artificial intelligence refers to the simulation of human intelligence in machines.
• The goals of artificial intelligence include learning, reasoning, and perception.
• AI is being used across different industries including finance and healthcare.
• Weak AI tends to be simple and single-task oriented, while strong AI carries on tasks that are more complex and human like.

Applications of Artificial Intelligence:

The applications for artificial intelligence are endless.

The technology can be applied to many different sectors and industries.

Following are some sectors which have the application of Artificial Intelligence:

1. AI in Astronomy

• Artificial Intelligence can be very useful to solve complex universe problems. AI technology can be helpful for understanding the universe such as how it works, origin, etc.

2. AI in Finance

• AI and finance industries are the best matches for each other. The finance industry is implementing automation, chatbot, adaptive intelligence, algorithm trading, and machine learning into financial processes.

3. AI in Social Media

• Social Media sites such as Facebook, Twitter, and Snapchat contain billions of user profiles, which need to be stored and managed in a very efficient way. AI can organize and manage massive amounts of data. AI can analyse lots of data to identify the latest trends, hashtag, and requirement of different users.

4. AI in Travel & Transport

• AI is becoming highly demanding for travel industries. AI is capable of doing various travel related works such as from making travel arrangement to suggesting the hotels, flights, and best routes to the customers. Travel industries are using AI-powered chatbots which can make human-like interaction with customers for better and fast response.

5. AI in Robotics:

• Artificial Intelligence has a remarkable role in Robotics. Usually, general robots are programmed such that they can perform some repetitive task, but with the help of AI, we can create intelligent robots which can perform tasks with their own experiences without pre-programmed.
• Humanoid Robots are best examples for AI in robotics, recently the intelligent Humanoid robot named as Erica and Sophia has been developed which can talk and behave like humans.

6. AI in Entertainment

• We are currently using some AI based applications in our daily life with some entertainment services such as Netflix or Amazon. With the help of ML/AI algorithms, these services show the recommendations for programs or shows.

7. AI in E-commerce

• AI is providing a competitive edge to the e-commerce industry, and it is becoming more demanding in the e-commerce business. AI is helping shoppers to discover associated products with recommended size, colour, or even brand.

Machine learning (ML) is a type of artificial intelligence (AI) that allows software applications to become more accurate at predicting outcomes without being explicitly programmed to do so.

Machine learning algorithms use historical data as input to predict new output values.

Applications of Machine Learning:

1)   Traffic Alerts (Maps)

Now, Google Maps is probably the app we use whenever we go out and require assistance in directions and traffic.  The other day I was traveling to another city and took the expressway and Maps suggested: “Despite the Heavy Traffic, you are on the fastest route“.  But, How does it know that?

Well, It’s a combination of People currently using the service, Historic Data of that route collected over time and few tricks acquired from other companies. Everyone using maps is providing their location, average speed, the route in which they are traveling which in turn helps Google collect massive Data about the traffic, which makes them predict the upcoming traffic and adjust your route according to it.

1)   Social Media (Facebook)

One of the most common applications of Machine Learning is Automatic Friend Tagging Suggestions in Facebook or any other social media platform.

Facebook uses face detection and Image recognition to automatically find the face of the person which matches it’s Database and hence suggests us to tag that person based on Deep Face.

Facebook’s Deep Learning project Deep Face is responsible for the recognition of faces and identifying which person is in the picture. It also provides Alt Tags (Alternative Tags) to images already uploaded on Facebook.  For Eg., if we inspect the following image on Facebook, the alt-tag has a description.

1)   Transportation and Commuting (Uber)

If you have used an app to book a cab, you are already using Machine Learning to an extent. It provides a personalized application which is unique to you. Automatically detects your location and provides options to either go home or office or any other frequent place based on your History and Patterns.

It uses Machine Learning algorithm layered on top of Historic Trip Data to make a more accurate ETA prediction. With the implementation of Machine Learning, they saw a 26% accuracy in Delivery and Pickup.

2)   Dynamic Pricing

Setting the right price for a good or service is an old problem in economic theory. There are a vast amount of pricing strategies that depend on the objective sought. Be it a movie ticket, a plane ticket or cab fares, everything is dynamically priced. In recent years, artificial intelligence has enabled pricing solutions to track buying trends and determine more competitive product prices.

How does Uber determine the price of your ride?

Uber’s biggest uses of Machine Learning comes in the form of surge pricing, a machine learning model nicknamed as “Geosurge”. If you are getting late for a meeting and you need to book an Uber in a crowded area, get ready to pay twice the normal fare. Even for flights, if you are traveling in the festive season the chances are prices will be twice the original price.

Jims Kalkaji