Applications of Artificial Intelligence (AI)

Artificial Intelligence defined as agility exhibited by machines, has many applications in today's world

Applications of Artificial Intelligence ➤

 Ecommerce 

To understand their customers better and know their preferences, AI is being used by eCommerce giants like Amazon. They get to know about your preferences and give a personalized shopping experience to a user

Healthcare

The healthcare industry is one of such industry that is witnessing the implementation of AI on a large scale. AI cannot completely replace doctors but can make the human doctors smarter

Retail

Heard about Amazon Go? The concept of Amazon Go revolves around a retail store that has a virtual payment system.

Unlike the traditional systems, this concept is ditching the long queues at the checkout counter. The customers have to log in with their Amazon Go account and then everything is automated. The sensors enabled track all the items that a customer wants to purchase and have added to their shopping cart. The payment for same is done via the Amazon Go app once the customer exits the store.

Knowledge Management ➤

Liebowitz describes the concept of knowledge management (KM) bluntly as “creating value from an organisations intangible assets”. The main problem with his concept is to grasp the intangible assets, to address them, turn them into tangible pieces and make them accessible for the organisation as a whole. This process of knowledge transformation has developed 
an  innovative cycle. This time, the application and facilitation of Decision Support System (DSS) such as technological infrastructure in processing power or global connectivity and Artificial Intelligence (AI) become success drivers

 Social media monitoring ➤

Where Artificial Intelligence is already incredibly helpful is where it's being used as social media monitoring tools. They allow you to ‘listen’ to what is being said about your brand, your competitors and your industry in general. Many of you can then use this data to understand your audience better and improve your marketing strategy. And you can also be alerted to conversations about your brand or industry, and chime in at a relevant time. Due to this you can be seen as an industry expert and useful resource.

Entity extraction ➤

 Natural Language Processing (NLP) - Building systems that can understand language. It is a subset of Artificial Intelligence

Entity extraction from text is a major Natural Language Processing task. As the recent advancement in the deep learning enable us to use them for NLP tasks and producing huge differences in accuracy compared to traditional methods.

Today around more than 80 % of total data is available in the raw form. Large amount of Data comes from information stored in big organizations as well as enterprises.Examples include,company purchase information of employees,business transactions,sale records, the previous record of organizations, social media etc.

Despite the fact that human uses language, which is ambiguous and unstructured to be interpreted by computers, yet with the help of NLP, this huge unstructured data can be harnessed for evolving patterns inside data to better know the information contained in data.

The NLP can solve big problems of the business world by using Big Data. Let it be any business like retail, healthcare, business, financial institutions.