How do Artificial Intelligence and Machine Learning impact a company's growth?

The ability to think makes machines powerful allies for your business. Learn how this is possible.

You may not have realized it, but Artificial Intelligence and Machine Learning are already present in many aspects of your life.

They are on your phone, streaming, and credit line in a union of technology and data that helps thousands of companies understand you better. So why not use these tools to enhance the growth of your company?

We have separated this post into relevant topics so that by the end of the reading, you will fully understand the importance of AI and Machine Learning in the modern job market.

What is AI?

Artificial Intelligence (AI) is a much-talked-about topic on our blog, and for a good reason: its presence is becoming stronger and more noticeable.

An AI is a machine that can think for itself without human intervention. This thinking capability makes it more powerful than machines that only perform functions, as it can solve problems on its own.

The thinking process of Artificial Intelligence is similar to the human thinking process: the more it learns, the more intelligent it becomes. The name given to this learning is Machine Learning.

What is Machine Learning?

When taking an exam, it is common to take all the available materials and study each page to absorb as much knowledge as possible. So, when answering the questions, you have in your head data, information, and knowledge to understand what is asked and develop a coherent answer. You studied the relevant data and learned about the subject. Machine Learning works the same way. 

The AI has access to data on a specific topic, such as a company's annual records, and will learn from this information until it arrives at answers. 

The software processes information about the consumer, product portfolio, distribution, and thousands of other information. The more data the AI has access to, the more its results will be complete.

After studying a lot, the AI learns everything it can about the business and starts coming up with solutions: invest more in this audience, this product performs better than others, there is a problem in your distribution chain, etc.

This problem-solving ability has led to an increasing number of companies adopting this tool, so it is estimated that the value of the Machine Learning market will reach 36,204 Million dollars in 2028.

Technology applied in different segments

In article for InformationWeek called "11 Cool Ways to Use Machine Learning," author Lisa Morgan shows how technology can be applied in different segments.

The versatility of applications is a big draw for the use of Artificial Intelligence and Machine Learning in different areas, such as:

Security

Artificial Intelligence grants even more accuracy to security measures, such as detecting malware, predicting financial frauds and locating people through cameras.

The AV-TEST Institute records 450,000 new malicious programs (malware) every day, too many threats for a human to detect and quickly create protections.

However, this analysis is relatively easy for Machine Learning because AI can quickly and accurately study and perceive the differences between each malware.

In the case of fraud prevention, even PayPal has used machine learning to detect anomalies and separate fraudulent profiles from real profiles. According to Hui Wang, senior director of global risk science at PayPal, with algorithms, they can "separate the good from the bad with a simple line".

Even the act of searching for someone using security cameras is changing dramatically. The company IC Realtime created a new AI product capable of locating everything from specific animals to people wearing a specific clothing colour.

Health

Diagnosis with the help of machines can help save lives, according to the "Age of Hope" study of the Breast Cancer Research Program.

The software could detect small cancer spots that went unnoticed by doctors, reducing the margin for human error and increasing the likelihood of an accurate diagnosis in the early stages.

Marketing

Chatbots have revolutionized how companies interact with their customers, and the expectation is that the adoption of this tool will only increase over time.

According to a study by Allied Market Research, the expectation is that the value of the chatbots market will be 2.1 billion dollars in 2024.

The increasing ability of chatbots to understand and respond to user questions makes the relationship between customer and company easier to quantify and evaluate.

Entertainment

Have you ever wondered how streaming services recommend movies and series to you? Using AI and machine learning.

The software can read two types of information; your activity provides detailed and implicit data.

Detailed data is what you say to the streaming service, such as the series you liked.

Implicit data is everything that AI can infer from your behaviour; for example, if you binge-watch a series in a few days, you probably liked it.

"Most of the useful data is implicit," according to Todd Yellin, vice president of product innovation at Netflix.

Virtual Assistants

To make your virtual assistant sound more human, technology companies have a trick up their sleeve: the use of AI.

Apple uses AI to make Siri's voice sound more natural, making interactions between the user and the virtual assistant more human. Through the learning capability of AI, Siri can read a street address in the right tone, avoiding sounding robotic.

Impact on Business Growth

The business growth provided by AI and Machine Learning is not about replacing people with machines.

The possibilities are numerous, as these software programs can think differently from a human being, reaching unique solutions that could not be obtained in any other way.

If you implement AI and Machine Learning in your company, you will need more than automated machines. You will have a powerful new tool capable of analyzing your business and bringing valuable insights.

How Qintess can help you

Qintess has different AI and Machine Learning solutions created using the most modern technology.

Our products integrate quickly and efficiently into your business, delivering unique results to stand out in the market.

Contact our specialists and change the way you think about your company. You can find more details about us and what we can do for you here.