Artificial intelligence, system learning, and profound understanding have become big words in the business world. Although many people use these words interchangeably, they really mean three things, and it’s crucial that business leaders understand them as we enter the new era of rapid AI development.
Kara Sherrer, writing for TechRepublic Premium, defines the three words and compares them to each other to reveal the similarities and differences. The feature also examines business case studies for all three different types of technology to show how your business could ( or already does ) benefit from them.
Featured word from the get:
Programs OF ML FOR BUSINESS
ML is not just useful for recommending what TV show to watch future. Additionally, it has a lot of practical business uses. You might not have realized it, though many business tools and software currently incorporate it. In the AI section above, we included some additional use cases that we did n’t already cover.
Economic providers: ML is used to identify suspicious activity and immediately warn the account holder of possible fraud.
Supply chain: It is assess workflows to spot potential problems and bottlenecks before they escalate to a major issue.
Analysis: ML can help your business make forecasts for future sales and revenues based on historical results and market conditions.
Profits: It can assist the sales staff in predicting lead conversion by learning what factors increase the likelihood of a sale shut.
Financial: Algorithms can automatically update rates based on supply and demand, as well as annual changes.
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