How firms are using artificial intelligence to up their game

After decades of false starts, artificial intelligence (AI) is already pervasive in our lives. Although invisible to most people, features such as custom search engine results, social media alerts and notifications, e-commerce recommendations and listings are powered by AI-based algorithms and models. AI is fast turning out to be the key utility of the technology world, much as electricity evolved a century ago. Everything that we formerly electrified, we will now cognitize. AI’s latest breakthrough is being propelled by machine learning—a subset of AI which includes abstruse techniques that enable machines to improve at tasks through learning and experience. More From Livemint » Although in its infancy, the rapid development and impending AI-led technology revolution are expected to impact all the industries and companies (both big and small) in the respective ecosystem/value chains. We are already witnessing examples of how AI-powered new entrants are able to take on incumbents and win—as Uber and Lyft have done to the cab-hailing industry. Currently, deployed key AI-based solutions, across industry verticals, include: Predictive analytics, diagnostics and recommendations: Predictive analytics has been in the mainstream for a while, but deep learning changes and improves the whole game. Predictive analytics can be described as the…


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