The world today, is one that is rapidly evolving with newer and more progressive methods and technical advancements. A profound example of this is Artificial Intelligence (AI). Due to its insightful ability to emphasize on creating machine-learning capabilities which work and react like humans, it’s no surprise that more and more experts are making use of this profound technology today.
The abilities that are borne into AI, intrinsically force society to re-evaluate the current mode of life and challenges it to make it more efficient and fulfilling on a much larger scale. Big data is another concept that is brought on due to the birth of AI, and refers entirely to data that cannot effectively be processed by general methods due to the complexity in transferring, querying, capturing, updating and storing the same.
Importance of Machine Learning in Data Science
In data science, machine learning and artificial intelligence is the driving force behind the inception of many revolutionary marketing applications and business ventures. Additionally, machine learning is a branch of artificial intelligence that revolves around the concept of allowing machines access to Big Data in order to let them learn for themselves.
Machine learning is expansive and incorporates concepts such as learning data representations that are focused on neural networks. Practitioners in data science use Big Data, Artificial Intelligence and machine learning to find endless applications for complicated tasks such as medical diagnosis, data translation and marketing strategies. However, the world has benefited from the inception of Big Data, Artificial intelligence and machine learning capabilities in varied ways and here’s your guide to everything to do with the same in 2019.
Core Changes Induced by Big Data, AI and Machine Learning
One of the most prominent changes that has been induced due to the development of artificial intelligence is the fact that it has provided exponential opportunities in the economic sector. A study covered by Forbes, stated, ‘AI will add $15 Trillion to the World Economy By 2030’. If that was to be taken into account, then it is evident that AI will bring a major change in the global economic sector.
Another sector, which has completely changed over the past couple of years, is the transport industry. This is due to core innovations provided by artificial intelligence and machine learning. Every year billions of dollars are being invested in this particular industry for the development of core technologies and for autonomous driving.
Autonomous vehicles were considered implausible or only something you would find in movies for decades, but today, due to advanced AI and machine learning capabilities, we have fully autonomous vehicles legally operating on the streets. These cars use AI in real time for automated guidance, advanced lane changing, braking and steering in order to avoid collisions and guarantee a safe passage. Core technologies used in autonomous vehicles include light and radar instruments, which are used to measure the distance and speed of objects in the proximity of the car.
At the same time, ride-sharing companies have invested massive capital in automated cars, which can be used for ride hailing services. However, the AI advancements in this sector have been slow, as human lives are involved and each vehicle has to be manufactured with meticulous attention to detail.
The Use of AI and Data Science in Marketing
As mentioned before, marketing has become increasingly efficient due to the help of AI and Big Data. Now businesses have the ability to analyze huge amounts of data in a cost effective, safe and comprehensive manner. These businesses are using data science as a vehicle to guide their marketing plans and are articulating strategies using the immense insight which Big Data provides.
For instance, now a business can use the accumulation of their data to scrutinize their business model and engage with their consumers on a completely different level. Due to the huge developments in analytic techniques, storage systems and processing speeds, businesses can now make better, informed decisions. They can use this data to find their target audience and effectively cater to their needs, without spending massive capital on testing periods or making incompetent decisions.
Data science is the key behind the revolutionary change in our society and now uniformed standards of data access, data protection and sharing. Such data is propriety in nature and is being shared respectively with the research community to encourage the development of system design and innovation. All of this has accelerated the diverse applications of AI and has revolutionized even our education system on a global scale.
Since AI has become a core component in society today, educational institutes are focusing on Data Science and other data related fields. All of this is being done to develop data analytic professionals who can help reconfigure how our society and economy are operating. Skills that will be instilled in these specialists include independent thinking, data analysis, reasoning and collaboration.
What to Expect in the Near Future?
It is safe to say that we are living in a pivotal point in society as everything around us is changing at an expedited rate. All of these developments are not only improving the quality of life on a global scale but are also providing access to crucial information, which has the capacity of changing a lot of things at a fundamental level.
Although there are many people out there who are hesitant in accepting AI, they cannot argue that the world has changed for the better since the inception of AI, Big Data and machine learning. Critics have finally changed their view on how beneficial AI is to our society and that further development may help provide solutions to unanswered complicated problems.
Data science has become the forefront multi-disciplinary field that is encouraging and developing AI applications and machine learning capabilities. There is no doubt that AI, Big Data and machine learning capabilities will help shape our future in a progressive and beneficial manner. These core inceptions will help navigate our economies and help businesses thrive in an artificial intelligence architecture.
Interested to learn more about data science and it’s learnings? Check out our 6 day capsule course on data science with Dhiraj Khanna (Pythian Labs) starting on the 28th of September!