What is Artificial Intelligence (AI) & Machine Learning (ML) Solutions?

Nitesh Kasma|December 13, 2023|16 Minute read|
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Use the hidden potential of your data and automate tedious business processes with AI/ML technologies & it's solutions. 

Artificial Intelligence is the wider concept of machines being able to carry out tasks in a way that we would consider “smart. Machine Learning is a current application of AI based around the idea that given access to data, machines should be able to learn for themselves. 

The year 2020 has forced industries to deep dive into the enterprise technology landscape and automation and digital advancements played a crucial role in ensuring business continuity, the paramount asset, 'data,' now demands transformation into structured and semi-structured actionable insights. 

Artificial Intelligence and Machine Learning are regarded as one of the most innovative technologies of the current times. The forecast anticipates a remarkable surge in the global AI & ML market, reaching an impressive $18 trillion by 2030, a substantial increase from $93 billion in 2021. Businesses are progressively incorporating AI into their operations, with 56% of companies reporting adoption in one or more functions. Artificial Intelligence and Machine Learning solutions play a pivotal role in driving business success by discerning trends, facilitating intelligent decision-making, and crafting strategies that lead to market-winning outcomes.

What is Artificial Intelligence (AI)? 

Artificial intelligence (AI) means intelligent machines and programs. Using algorithms, smart machines, and software to develop their solutions instead of giving predefined answers. This means getting predictive results based on your data.  

What is Machine Learning (ML)? 

A machine learning (ML) solution encompasses a comprehensive package of intellectual property, tools, and software designed for Artificial Intelligence development across a diverse range of devices. It is equipped to support various ML approaches essential for AI, encompassing supervised learning, unsupervised learning, semi-supervised learning, and reinforcement learning.   

Area of implementation  

  1. Image recognition  

For those frequently examining visual data, this solution proves beneficial in identifying, analyzing, and categorizing information from images or videos. It encompasses features such as picture classification, object detection, and text reading, and is accessible in both mobile and offline versions. 
Extract meaningful insights from images and videos using pre-trained APIs, AutoML, or custom models. Establish new video and image analytics applications swiftly. 

Derive insights from images and videos with pre-trained APIs, AutoML, or custom models. 

Spin up new video and image analytics applications in minutes:   

  • Train machine learning models for image classification through AutoML or custom models. 

  • Identify objects, recognize handwriting, and construct valuable image metadata with pre-trained APIs.  

  • Seamlessly integrate with BigQuery, Cloud Functions, and your cameras to facilitate an end-to-end journey. 

Artificial Intelligence has left its mark on numerous industries, and the media and entertainment sector is no exception.

Here are some of the benefits of AI in media and entertainment: 

  • Personalization: 

AI algorithms analyze user data to provide tailored recommendations for movies, TV shows, and music. This enhances customer retention and boosts engagement with the content. 

  • Production Efficiency: 

AI contributes to streamlined production processes in the entertainment industry. It can automate tasks such as video editing, voiceovers, and post-production, leading to significant reductions in time and resource requirements. 

  • Audience Analysis: 

AI analyzes audience behavior and feedback, offering insights to enhance content and increase engagement. This valuable information helps create content that resonates with audiences, improving the overall user experience. 

  • Marketing and Promotion: 

Artificial Intelligence leverages user data and social media trends to develop targeted marketing and promotion strategies. This ensures that entertainment companies reach the right audiences and optimize their overall marketing return on investment. 

  • Improved Decision-Making: 

Artificial Intelligence enhances business decision-making by analyzing big data for valuable insights. Predictive analytics anticipates customer behavior, guiding product development and marketing decisions. AI-driven sentiment analysis provides insights into brand perception, enabling businesses to refine branding and marketing strategies for better outcomes. 

  • Cost Reduction: 

AI helps cut costs in the media and entertainment sector through task automation. This reduces labor expenses by decreasing reliance on human work. Simultaneously, Artificial Intelligence -driven optimization minimizes energy consumption, leading to lower utility costs. For example, AI-driven content creation reduces the need for writers and editors, cutting labor expenses. AI optimization in data centers reduces energy consumption, resulting in decreased energy expenditures. 

  1. Natural Language Processing (NLP) 

If your objective is to scrutinize substantial volumes of customer data, encompassing consumer opinions, enhance user experience quality, or optimize customer engagement and business initiatives, this solution is an ideal fit for your needs. 

  • Text Understanding: 

AI employs NLP to comprehend and extract meaning from written or spoken language, enabling machines to understand the context, sentiment, and nuances of human communication. 

  • Language Translation: 

AI-powered NLP systems facilitate language translation, allowing for the conversion of text or speech from one language to another with high accuracy. 

  • Speech Recognition: 

AI in NLP enables machines to convert spoken language into written text. This is applied in voice-activated systems, transcription services, and virtual assistants. 

  • Text Generation: 

NLP models driven by AI can generate human-like text based on patterns and context. This is used in chatbots, content creation, and automatic text summarization. 

Infographic - NLP Solutions - What are they

  • Sentiment Analysis: 

AI-powered NLP systems analyze text to determine the sentiment expressed, whether it is positive, negative, or neutral. This is valuable for gauging public opinion, customer feedback, and social media monitoring. 

  • Named Entity Recognition (NER): 

NLP assists in identifying and classifying entities mentioned in text, such as names of people, organizations, locations, dates, and more. This is crucial for information extraction. 

  • Question Answering Systems: 

AI-driven NLP models are employed in question-answering systems, where machines can comprehend and respond to user queries in a human-like manner. 

  • Intent Recognition: 

AI-powered NLP is utilized in recognizing the intent behind user queries, aiding in the development of intelligent virtual assistants and chatbots. 

  • Conversational Agents: 

NLP enables the development of conversational agents that can engage in natural and context-aware dialogues, enhancing user interaction in applications like customer support and virtual assistants. 

  • Document Classification/ Summarization: 

AI in NLP is applied to classify and summarize documents into predefined categories, making it easier to organize and retrieve information from large datasets. NLP helps in automatic summarization of large volumes of text, condensing information while retaining key points. This is useful in news articles, research papers, and document analysis. 

  • Language Generation Models: 

Advanced AI-driven models, such as OpenAI's GPT (Generative Pre-trained Transformer), are capable of generating coherent and contextually relevant text, contributing to creative content generation. 

  1. Document analysis 

Artificial intelligence enables the categorization of data according to document content. This solution is additionally employed to search documents for crucial attributes like dates or locations (addresses, parcel numbers). Further functionalities include searching, identifying, and delineating the position of specific objects within a document. AI can also scrutinize measurement point tables, even if they are of poor quality, to extract coordinates. In instances involving diagrams or maps, this solution can automatically identify text, simplifying the input and verification of data such as station and connector names, section parameters, or voltage levels and magnitudes. 

Automate document processing workflows

Global enterprises heavily depend on documents as a means to store and convey information. Frequently, the conversion of this information into a digital format requires labor-intensive manual processes. 
 
Finally, it uses Warehouse to search and store documents. 

  • Streamline the complete lifecycle of unstructured documents with an integrated solution. 

  • Cut down on manual document processing, lower setup costs, and expedite deployment. 

  • Ensure precision through the utilization of Google's AI and Human-in-the-Loop (HITL) reviews. 

  • Leverage your document data to gain fresh insights into your products and meet customer expectations. 

  • Harness the power of generative AI for seamless data extraction, document search, and summarization. 

Use cases of document analysis 

  • OCR, Optical character reorganization 

  • Digitize text from documents 

  • Process industry-specific documents 

  • Manage documents and their AI-extracted data 

  • Create Custom Document Classifiers 

  • Gen AI search in Warehouse 

  1. Speech recognition and voice data entry 

​​​​​​​Advanced chatbots and voice assistants can be developed through the application of speech recognition technology. Upon issuing a voice command, the system retrieves the relevant response from the appropriate database. An instance of voice data entry involves the completion of a digital form using spoken language. 

This technology exhibits the capability to recognize synonyms, measurement units, and various keywords spoken by the user. Furthermore, applications can be initiated through wake words, facilitating hands-free voice commands. 

Speech recognition be used in artificial intelligence 

The use of VPA and speech recognition technology has spread from our Mobile to our homes, and its have applications in multiple sectors including business, finance, marketing, and healthcare are starting to become clearer. 

Use cases of Speech recognition 

  • AI for speech recognition in communications (Virtual assistant) 

​​​​​​​These voice recognition systems enhance and add value to the telecommunication business because they can detect and engage in casual conversation and increasingly understand human speech. It helps to increase targeted marketing initiatives, enable self-service, and better the entire customer experience. 
  • AI for speech recognition in banking 

Security and customer experience play important role in banking. Both can get benefit from the application of AI in banking, especially speech recognition systems. Banks can use AI models to communicate with customers and provide solutions based on requests instead of waiting for a long time in a queue. Another use case than that they can replace password or 2D passwords based on voice. 

  •  AI for speech recognition in the healthcare area 

Doctors get very little to write all the data entry, A Speech recognition tool can be crucial for them, Reducing the time allocated to administrative duties associated with electronic health records is an application of AI that aims to alleviate the workload for doctors who spend significant time inputting data on computers. By doing so, it enables healthcare professionals to focus more on patient care. As speech recognition technology becomes more refined, AI will enhance its understanding of both general and medical vocabulary, speech patterns, and other related aspects. This advancement will facilitate the development of more advanced note-taking capabilities, minimizing the need for extensive data entry while ensuring the recording of crucial patient information. 

  • AI in Transcription Services 

AI-driven speech recognition can be used in transcription services to convert spoken language into written text. This is particularly useful in business meetings, lectures, and other scenarios where accurate transcription is needed. 

  • Language Translation:  

Speech recognition is integral to real-time language translation applications. AI will allow users to speak in one language, and the AI system translates and outputs the spoken words in another language. 

  1. Predictive Modelling and forecasting 

​​​​​​​Examining vast datasets, this solution converts them into actionable predictions to optimize business operations. For instance, it can forecast device malfunctions, predict energy production from renewable resources, or estimate the demand for energy and other commodities using weather data. 

Top 5 Predictive Analytics Models 

Luckily, predictive models don’t have to be created from scratch for every application. Predictive analytics tools can be used for a variety of vetted models and algorithms that can be applied to a wide spread of use cases. 

Classification model: 

Regarded as the most straightforward model, it classifies data to provide straightforward and uncomplicated query responses. An example scenario involves addressing questions such as "Is this transaction fraudulent?" for financial institutions, determining loan approval or denial, or predicting the likelihood of default. Similarly, in retail, the model can assess whether a customer is a potential future buyer. 

Clustering model:  

This model groups data based on shared attributes, bringing together elements or individuals exhibiting common characteristics or behaviors. It functions by strategizing at a larger scale for each grouped entity. A clustering model proves valuable for businesses in planning targeted marketing campaigns for specific customer groups. For instance, it aids in assessing credit risk for a loan applicant by analyzing the historical behavior of others in similar situations. Additionally, it assists in benchmarking SaaS customer data, identifying global patterns of use by categorizing them into groups.   

Top 5 Predictive Analytics Models - Infographic

Forecast model:  

This model is widely accepted and operates on variables with numerical values, drawing insights from historical data. For instance, it can determine the optimal quantity of groceries a restaurant should order for the upcoming week or estimate the number of calls a customer support agent can handle daily or weekly by referencing past data. Retailers can utilize this model to forecast inventory needs for sales or upcoming seasons. 

Outliers model:  

This model operates by scrutinizing unusual or deviant data points. For instance, a bank could employ an outlier model to detect fraud by assessing whether a transaction deviates from the customer's typical buying patterns or if an expense in a specific category is abnormal. For example, a $1,000 credit card charge for a washer and dryer at the cardholder's regular store might not raise concerns but spending $1,000 on designer clothing in a location where the customer hasn't made other charges could indicate a compromised account. 

Time series model:  

This model assesses a series of data points in chronological order. For instance, it predicts future hospital admissions by analyzing the historical data of stroke patients admitted in the last four months. This allows the hospital to estimate the expected admissions for the upcoming week, month, or the entire year. Evaluating a single metric over time provides more meaningful insights than a simple average. 

  1. Generative AI 

Generative AI refers to artificial intelligence systems and models that have the capability to generate new content, such as text, images, or other data types. These systems use advanced algorithms to understand patterns and structures within existing data and then generate novel outputs based on that understanding.  

Generative AI encompasses various applications, including  

  • Content creation: Image synthesis, and Text generation  

  • Chatbots and Conversational Agent  

  • Language translation,  

  • and even the development of realistic deepfake videos. 

Conclusion

The possibilities of Artificial Intelligence (AI) and Machine Learning (ML) are overwhelming, particularly at this point of technological transformation. While machine learning (ML) algorithms continuously improve their performance over time by learning from data, artificial intelligence (AI) has demonstrated the ability to analyze large datasets, spot patterns, and predict future events with surprising accuracy.
We are confident that modern technologies help to shape a better and more successful future for all if we arm ourselves with the knowledge and abilities required to understand and make use of them.

Also, read: Artificial Intelligence and Fintech - The perfect combination for the Digital Age

Nitesh Kasma

Co-Founder

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