Why Artificial intelligence

Artificial intelligence development is a value-added technology to any business today. Web and Mobile applications are among the leading areas for Artificial Intelligence revolution. From business models for value chain systems, Artificial Intelligence Development Services in India is soon to become the key differentiator between the businesses of the 21st century. The Artificial Intelligence solutions that we offer accelerated your business growth by minimizing your labor and infrastructure cost.

JANAKIBHARATH is amongst the top AI development companies in Hyderabad that is helping companies to grow their productivity.

 What is Artificial Intelligence?
Artificial Intelligence (AI) makes it possible for machines to learn from experience, adapt to new inputs and perform human-like tasks. AI works by combining large amounts of data with fast, interactive processing and intelligent algorithms, allowing the software to learn automatically by recognizing patterns in the data. Forms of AI in use today include, among others, digital assistants, chatbots and robots.

AI includes many methods and continuously evolving range of technologies, as well as the following major subfields:

  • Machine Learning (ML)uses neural networks and statistical analysis to find hidden insights in data without explicitly being programmed for where to look or what to conclude. It automates building analytical models.
  • Natural Language Processing (NLP)is the ability of computers to analyze, understand and generate human language, including speech.
  • Deep Learning (DL)is a variation of machine learning – it involves the ability of machines to develop self-learning capabilities from large amounts of data using huge neural networks with many layers of processing units. Common applications include image and speech recognition. 

Why Artificial Intelligence is important

With artificial intelligence, we can build thousands of computers that could all work to solve our most complex problems. It is also capable of seeing patterns in data that even trained professionals don’t always catch.

Artificial intelligence and machine learning technologies can automate important, but manual and time-consuming tasks, allowing employees to focus on higher-value work.  AI will be used to extract new insights, transform decision making and drive improved business outcomes. A recent PwC report indicates that an overwhelming 72% of business decision makers believe that AI provides a competitive edge on the business front.

 Artificial intelligence in businesses can be used to:

  • Increase competitive advantage and improve efficiency
  • Advance automated interactions with customers, partners and workers
  • Multiply productivity gains by automating processes
  • Power smarter machinery, vehicles and structures
  • Enhance customer intimacy and thereby increase consumer demand
  • Improve analysis of video and audio in real-time 

 Applications of artificial intelligence and machine learning across industries:

 Retail
Machine learning algorithms are being used by online retailers in ways given below.

  • Online recommendation allows retailers to offer personalized promotions or user experience

based on customer’s previous purchases or activities

  • Better customer service and delivery systems is possible using smart machines which can reduce response time and support in situations where resources are less
  • Monitoring price changes over a certain period of time enables ecommerce companies to track patterns in these fluctuations and set prices according to demand

Financial Services
The transformative potential of machine learning is compelling the financial services industry to adopt it with vigor. Machine learning can help banks, insurers, and investors make smarter decisions in a number of different areas:

  • Managing client satisfaction
  • Reacting to market trends
  • Predicting risk
  • Innovate to stay competitive

The Banking and Finance (BFSI) sector is taking the help of artificial intelligence to manage the vast amount of data that is getting generated and detecting the anomalies in transaction or frauds. Financial institutions are increasingly depending on machine learning for portfolio management like forecasting trading volatility and managing wealth and assets. These algorithms can identify trends more efficiently than humans and react in real-time.

 Healthcare
Organizations can capitalize on the intersection between Internet of Things (IoT) and data analytics to enable smarter healthcare solutions.

  • Robot assisted surgeries are becoming more common. They are not only more precise, but have a higher success rate with quicker recovery and smaller surgery scars
  • Personalized health monitoring using smart watches and other wearable devices have made health telemetry a reality

  

 HOW TO GET STARTED WITH AI


To initiate AI based automation in your business, here are a few pointers:

  • Start by identifying the problem and defining where you can use AI to improve efficiency
  • Develop an AI-based solution to aid algorithmic decision making
  • Once the solution is developed, implement the same and provide necessary training

 

BENEFITS OF AI IN BUSINESS

  • Fraud detection: Ability to compare millions of transactions and distinguish precisely between legitimate and fraudulent transactions
  • Data Security: Identify patterns in how data in the cloud is accessed, and report anomalies that could predict security breaches
  • Recommendations:Ability to determine what you might like to buy or binge watch next by analyzing millions of other users
  • Security screening:Eliminate false alarms and spot things human screeners might miss in security screenings to ensure safer events
  • Online search: Google and its competitors are constantly improving what the search engine understands to deliver a better result in the future
  • Language mining:Language processing can stand in for customer service agents and more quickly route customers to the required information

 

Conclusion
The effects of AI will be magnified in the coming decade, as virtually every industry will transform their core processes and business models to take advantage of artificial intelligence and machine learning. The bottleneck now is in business imagination, implementation, and management. For business leaders, it is imperative to get a plan for making AI work in the organization. Initial AI projects may get delayed or underdeliver, but the risk of businesses becoming non-competitive by ignoring AI is high.

To know how JANAKIBHARATH can help you leverage Artificial Intelligence and Machine Learning in your digital transformation journey, do contact to: info@janakibharath.com