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 importance of artificial intelligence and machine learning in business

importance of artificial intelligence and machine learning in business

AI and ML are riveting topics that are ruling the IT industries and are creating a disruptive organizational impact. But what exactly are AI and ML? AI is short for artificial intelligence and ML stands for machine learning. Although ML is not new it is still considered a new concept to many due to a lack of awareness. In recent years ML and AI are spreading interest across businesses and impacting the growth and popularity of the industries. Artificial intelligence or AI is a program that has been developed based on human intelligence. It is associated with learning and problem-solving abilities, similar to the human mind. AI was first developed in 1951 by Christopher Strachey, and since then it evolved to a great level, so much to provide personalized recommendations for users based on their search history and surfing behavior. It has become important in today’s era because it can improve business by providing strategic decisions. Machine learning commonly known as ML is a part of artificial intelligence that helps it to self-learn and grow naturally based on algorithms.

To be more specific about machine learning, it is a sub-part of AI which focuses on the algorithm and user data to provide maximum accuracy in results. In layman’s terms, it allows the program to learn and develop itself based on data. ML was first developed in 1952 for computer gaming, it later contributed to greater development. The history of these programs is interesting and so is the present. Can you believe the way things have evolved and that machines and computer programs can analyze our patterns and behaviors? In this day and age, every other online platform is dominated by AI and ML, starting from social networking sites like Facebook and Twitter, to e-commerce sites like Amazon and Flipkart. There is no denying that artificial intelligence and machine learning are dominating the tech industry as well as other businesses. Major changes were observed with the implementation of AI and ML in the business and similar are yet to come.

Let us further focus on the impact of both on business. Businesses are yet to witness a lot of change and improvement in the potential of programmers. However, understanding how it can help with improving one’s business is something considered necessary.

Personalized content and great prediction:

AI and ML are known to analyze customer behavior, collect data, and provide them to companies for their benefit. So that next time when customers or users visit the apps or websites, AI and ML can analyze their patterns and recommend them things based on that data. AI-induced businesses help companies with e-commerce and financial matters. Machine learning helps marketers to have a proper insight into the customers' accounts and therefore helps with the process of targeting them with personalized messages or content.

Enhanced security:

Cyber security is important and something that businesses require to learn about and take care of. Hackers are ever ready to grab gold of company information and create chaos; therefore AI and ML are important to manage the security of these organizational data. Proper implementation of AI and ML technologies can adjust and act accordingly to protect the business from potential cyber threats. Since machine learning understands vulnerabilities and self-learns several things, it helps in identifying potential harm and threat and therefore protect.

Improved mobile interaction:

Surveys prove that mobile phones are becoming a part of people’s daily lives. Most people are hooked to mobile phones more than any other devices because it is handy and extremely user-friendly. Most mobile phones in this era have AI and ML-powered processors, for a better understanding of the user. Smartphones with their extreme capabilities and great memory help businesses become more competitive with access to users’ data and algorithms. Businesses that take benefit of these mobile phones and therefore develop mobile-friendly apps for their businesses tend to achieve higher success.

CRM:

Businesses have witnessed major changes and improvements with the implementation of AI and ML since it has helped them with customer relationship management (CRM). With a steady relationship management system that too with customers, companies are flourishing. Customer service remains the priority of every company since customers are considered an ultimatum. Irrespective of the size and popularity of the industry customer service remains an essential part, therefore companies with the help of AI and ML have been analyzing customer behavior and demands and therefore working on their customer-oriented service.

With this, it can be thus concluded that AI and ML have been an important part of businesses and shall remain one shortly. However, it has positively improved the position and achieved success on behalf of the company. Thus, learning and being aware of artificial intelligence and machine learning can prove to be helpful shortly.