Business and AI

Imagine if you could take your 5 years old kid around 250 million years back in time to the dinosaur era and let the child explore everything on its own. And what if these giant creatures could introduce themselves, tell the story about their existence and talk to your child? What if a high school student could go back in time to meet his or her favourite scientist, let’s say Einstein, and ask him any question? Would it not be amazing to have all the books of the all the libraries at your beck and call at any moment? How about instantly seeing your recently found genius friends from across the globe to discuss your favourite study material as and when you wish? If you think these possibilities are far-fetched then think again! Go on reading till the end. Artificial intelligence is everywhere and every industry is cashing on it to optimize their businesses, improve efficiency and productivity by minimizing human effort and error, thus maximizing profitability. Education industry is no...

  (Photo by Matthew Henry from Burst) Data science (DS) is the need of the hour in almost every industry. As data plays an important role in making business-critical decisions, DS has become a must-have function in every organization. Data science (DS) is no more a new term, even for a layperson. Nowadays, every industry is benefiting from various applications of DS, which were unimaginable a few decades ago – but now possible due to artificial intelligence (AI). AI is not a new concept and has been there for at least 60-70 years now. However, it only became possible for scientific and technology communities to make the best use of AI after the advancements in the field of computers and similar technologies. DS works on historical data to predict classes, numerical values or clusters/groups of a given sample. Some of the examples include flight departure time, employee churn, loan defaulters, fraud detection, weather forecast, online product recommendations, etc.   ...