High Score Labs News • Aug 11, 2020
Lately, Artificial Intelligence (AI) and Machine Learning (ML) have become the hottest buzzwords in the world of technology, and it often seems to be practised interchangeably to transform business. Even though the perception about them are confusing and are can sometimes considered as one and same, however, it is not so. This article is aimed to make things simple for you and clear things up. Let’s understand the difference between AI and ML.
AI is a greater concept to produce intelligent machines that can imitate human thinking capability and behaviour.
It is a discipline of computer science which creates a computer system that can simulate human intelligence. The term “Artificial Intelligence” basically means “human-made thinking power.” In other words, they are the “logical machines” which is devised to act rationally and intelligently.
AI is often categorised into one of two fundamental groups – applied or general. Applied AI is a more common system that is intended to skill-fully trade stocks and shares, or manoeuvre an autonomous vehicle.
Benefits of AI
- Enhance customer communications and reduce costs.
- Streamline the recruitment process through automated screening and analysis.
- Improving forecasting accuracy without manual intervention, thereby reducing human errors.
- In the retail sector, AI strengthens brand loyalty and enables personalized shopping experiences.
- AI in healthcare provides patients with personalized medical information right at their fingertips.
- In the banking sector, AI is essentially used for security and fraud prevention.
- AI in manufacturing performs quality control and diagnostics to guarantee smooth and efficient operations.
Machine learning is a subfield of artificial intelligence, which facilitates machines to learn from past data or experiences without the need to be programmed explicitly. Theoretically, ML is a science of designing and applying algorithms that are able to learn things from past cases. ML employs complex algorithms that continually emphasise over massive data sets, dissecting the patterns in data and empowering machines to counter to diverse and complex situations for which they may not have been explicitly programmed.
Based on ML’s functional abilities, it can be divided into three types:
- Supervised learning
- Reinforcement learning
- Unsupervised learning
Benefits of ML
- Simplifies product marketing and aids accurate forecasts.
- Cumbersome data consumption from unlimited sources.
- Rapid analysis foresight and processing by optimizing the best resources.
- More reliable customer segmentation and accurately detailed lifetime value prediction for better sales & marketing.
- Boosts efficiency of the productive maintenance in the manufacturing industry.
- Enhances the precision of economic rules and models in the finance sector.
- Promotes accurate medical predictions and diagnoses in the healthcare sector.
To conclude, Artificial intelligence (AI) and machine learning (ML) are definitely two separate concepts but are often used together to transform business. While Artificial Intelligence (AI) is a gigantic domain, machine learning (ML) just squats beneath it.
Amid data explosions, businesses have an overabundance of data — and will proceed to produce more. However, with AI and ML, businesses have the power to use the plethora of available data to create value which is not possible with human analysis alone that is prone to errors. AI and ML together can assist in improved effectiveness and productivity with latest insights and automation.