Even though the terms are frequently used interchangeably, machine learning is actually a subset of AI.
Artificial intelligence, in this context, is the capability of computers to mimic human thought and perform tasks in real-world environments; machine learning, on the other hand, is the set of technologies and algorithms that allows systems to recognise patterns, make decisions, and learn and improve on their own.
To create AI systems, which can evaluate data and solve issues, computer programmers and software engineers use techniques such as:
- machine learning
- deep learning
- neural networks
- computer vision
- natural language processing
What follows is a discussion of the similarities and distinctions between AI and ML, as well as their current applications in businesses of all sizes.
What Is Artificial Intelligence?
Making computers and robots that can behave in ways that are similar to and even more advanced than those of humans is the goal of artificial intelligence research and development. In order to offer information or trigger activities without human intervention, AI-enabled systems may analyse and contextualise data.
Technology like smart phones and voice assistants like Apple’s Siri rely heavily on AI nowadays. Companies are implementing natural language processing and computer vision — the capacity for computers to use human language and comprehend images — to automate processes, quicken decision making, and enable dialogues with chatbots for customers.
What Is Machine Learning?
You can get to AI via machine learning. To improve their decision-making, the algorithms in this branch of AI are able to automatically acquire new insights and patterns in data.
As a field of research, machine learning allows programmers to see how far they can push the perception, cognition, and action capabilities of computers.
When it comes to machine learning, deep learning is the cutting edge. To understand complicated patterns and generate predictions without any human input, deep learning models employ vast neural networks, which are networks that behave like the human brain to logically interpret data.
How Companies Use AI and Machine Learning
Organizations in practically every field today need to be able to take their data and turn it into meaningful insight. Businesses can save time and effort by using AI and machine learning to automate formerly labor-intensive tasks involving data and judgement.
Leaders can quickly and effectively comprehend data-driven insights by integrating AI and machine learning into their systems and strategic initiatives.
AI in the Manufacturing Industry
In the manufacturing sector, efficiency is essential to the survival of any business. By applying data analytics and machine learning, artificial intelligence can aid manufacturing industry leaders in automating business operations.
- Identifying equipment errors before malfunctions occur, using the internet of things (IoT), analytics, and machine learning
- Using an AI application on a device, located within a factory, that monitors a production machine and predicts when to perform maintenance, so it doesn’t fail mid-shift
- Studying HVAC energy consumption patterns and using machine learning to adjust to optimal energy saving and comfort level
AI and Machine Learning in Banking
Privacy and security of customer information are of paramount importance in the banking sector. Leaders in the financial services industry can use artificial intelligence and machine learning in a few different ways to improve efficiency while also ensuring the safety of their customers’ information:
- Using machine learning to detect and prevent fraud and cybersecurity attacks
- Using a combination of biometrics and computer vision, we can verify users’ identities and process documents more quickly.
- The use of advanced technology, such as chatbots and voice assistants, to automate routine customer support tasks
AI Applications in Health Care
The provision of precise and effective health services relies heavily on the utilisation of vast stores of data and the application of informatics and analytics in the health care sector. The use of AI tools has been shown to have numerous benefits, including but not limited to:
- Clinical decision assistance and automated insights are generated by machine learning analyses of user EHR data.
- Incorporating AI that can predict the results of hospital visits to cut down on patient stays and avoid unnecessary readmissions.
- Conversations between doctors and patients during office visits or video conferences can be recorded and analysed later using NLU techniques.