Benefits which MNCs are getting from AI/ML

A lot of people have probably heard of ML. We interact with them on a daily basis, but do not really know what exactly it is.

With Google, Amazon, and Microsoft Azure launching their Cloud Machine learning platforms, we have seen artificial intelligence and ML gaining prominence in the recent years. Surprisingly, we all have witnessed ML without actually knowing it. Some of the most common instances are ‘Spam’ detection by your email provider, and ‘Image’ or ‘Face’ tagging done by Facebook. While Gmail recognizes the selected words or the pattern to filter out spam, Facebook automatically tags uploaded images using image (face) recognition technique. Business benefits of AI and ML are numerous.

Now, what is Machine Learning? What it does? Why it’s in so demand??

Machine learning is the study of computer algorithms that improve automatically through experience. It is seen as a subset of artificial intelligence.

It is a data analysis process which leverages ML algorithms to iteratively learn from the existing data and help computers find hidden insights without being programmed for.

Machine learning (ML) extracts meaningful insights from raw data to quickly solve complex, data-rich business problems. ML algorithms learn from the data iteratively and allow computers to find different types of hidden insights without being explicitly programmed to do so. ML is evolving at such a rapid rate and is mainly being driven by new computing technologies.

The amount of data that is available is astronomical but data purely on its own is indecipherable for most of us. The power of big data has intensified our research into creating new and faster ways data can be analyzed, processed and acted upon……and that’s why these technologies has become so important. In order for us to leverage data faster, we’ve created and trained machines (AI) to process data faster, smarter and more efficiently. Because more and more data is being produced and collected every day, the ability for us to lean on machines is vital.

Big MNC’s and technologies like ML and AI.

All the world’s tech giants from Alibaba to Amazon are in a race to become the world’s leaders in artificial intelligence (AI). These companies are AI trailblazers and embrace AI to provide next-level products and services.

The artificial intelligence industry is expected to reach $59.8 billion by 2025. With use cases in almost every industry vertical, artificial intelligence is predicted to be the future of technology by thought leaders including Bill Gates. From sales forecasting to improving productivity, the application of artificial intelligence (AI) is immense for companies worldwide.

Here are the insights to some top companies that have the power and resources to shape our connected future. These are the big players in artificial intelligence.

1. Amazon

Not only is Amazon in the artificial intelligence game with its digital voice assistant, Alexa, but artificial intelligence is also part of many aspects of its business. Another innovative way Amazon uses artificial intelligence is to ship things to you before you even think about buying it. They collect a lot of data about each person’s buying habits and have such confidence in how the data they collect helps them recommend items to its customers and now predict what they need even before they need it by using predictive analytics.

In a time when many brick-and-mortar stores are struggling to figure out how to stay relevant, America’s largest e-tailer offers a new convenience store concept called Amazon Go. Unlike other stores, there is no checkout required. The stores have artificial intelligence technology that tracks what items you pick up and then automatically charges you for those items through the Amazon Go app on your phone. Since there is no checkout, you bring your own bags to fill up with items, and there are cameras watching your every move to identify every item you put in your bag to ultimately charge you for it.

2. Facebook

With over 3 billion users, worldwide, Facebook is the leading social networking site in the world. One of the primary ways Facebook uses artificial intelligence is to add structure to its unstructured data. They use DeepText, a text understanding engine, to automatically understand and interpret the content and emotional sentiment of the thousands of posts (in multiple languages) that its users publish every second. With DeepFace, the social media giant can automatically identify you in a photo that is shared on their platform. In fact, this technology is so good, it’s better at facial recognition than humans.

Their internal group called Facebook AI Research (FAIR) is committed to solving challenges in AI. Apart from acquiring AI companies like Masquerade and Zurich Eye, the company has also invested strategically in their own artificial intelligence labs. The company’s AI research team led by deep learning pioneer, Yann LeCun has many major initiatives planned for 2018 to improve the efficiency of the social media platform.

3. Google

Perhaps the largest and most important AI company among all is also the most obvious. Google has acquired AI start-ups as if there were going to be no more soon. Over the past four years, Mountain View has created no fewer than twelve new artificial intelligence companies. The most important purchase was the $400 million deal for DeepMind, the board game playing Go champion.

There is also Google’s machine system TensorFlow, which is now free for all, and the ongoing Tensor AI chip project for machine learning on the device. Google’s CEO, Sundar Pichai, has already mentioned that in the long run we are “evolving from a ‘mobile first’ to an ‘AI-first’ world in the computer industry,” and that already says everything you need to know to see where Google sees the future.

4. Microsoft

AI is a term that appears on Microsoft’s vision statement, which illustrates the company’s focus on having smart machine central to everything they do. They are one of the world’s biggest AI as a Service (AIaaS) vendors.

As one of the leading software companies, Microsoft has been building its AI capabilities on different fronts to drive their business. With a variety of AI-based products and services like Cortona, CNTK, cognitive services, and industry-specific AI apps, Microsoft offers developers many interesting and challenging projects in AI.

5. Adobe

More than 30 per cent of the 400 patents Adobe filed last year were specifically related to artificial intelligence and machine learning.

Adobe introduced its AI capability Sensei four years ago and has since launched hundreds of new AI-powered features and capabilities across its portfolio. Within its marketing, advertising and commerce clouds, the AI services aim to help marketers to optimise campaigns, automate tedious tasks and provide predictive capabilities. Adobe has several new programs and projects focused on building better tools powered by AI. The company plans to incorporate more AI-based technology in its services and products.

By leading the AI revolution, these top AI companies are among the best places to work for AI experts. In their report titled, How AI Boosts Industry Profits and Innovation, Accenture Research, and Frontier Economics predict that artificial intelligence has the potential to enable 38% profit gains and result in an economic boost of $14 trillions by 2035. With the potential to increase corporate profitability, the AI buzz is here to stay and will pave the way for technological advancements in the future.

So! AI is the great thing which is going to rule our future ! AI is future. In the coming future ,every thing will be driven by AL no doubt!!!

Thank you :)