Over the course of time, Machine Learning (ML) has become a staple in the development and implementation of AI technologies throughout the board. If you’ve read about chatbots and how they work, you’ve probably heard of machine learning. Essentially, machine learning – an integral part of what makes bots function – is a study within the artificial intelligence realm that looks into algorithms and inferences in order to allow a natural conversation flow of machines.
Artificial Intelligence and machine learning have been hot topics in the past years as AI and ML technologies increasingly find their way into everything from advanced chatbot conversations to dialog management and more. Furthermore, it is expected that by 2022 around 80% of modern advances will be founded on AI and ML.
As we dive into a new year, here’s a big-picture look at four key AI and machine learning trends that are finding their way into transforming businesses and automation in our everyday lives.
The pandemic has forced most of us to find smarter ways to simplify our current processes…leading to the possibility of automation. Hyper-automation, an IT mega-trend identified by Gartner, is “the possibility that almost anything inside a company that can be automated.”
In a nutshell, hyper-automation can overcome some of the limitations of approaches that rely on a single automation tool. This allows organizations to move beyond the confines of individual processes and automate nearly any tedious and scalable task.
Another great advantage of machine learning is its ability to discover hidden patterns and accurate forecasts for future business decisions. For example, ML techniques allow predicting the amount of demand vs supply in a defined period of time. In this case, a software system can learn from data for improved analysis.
Today, ML networks can give conjectures with accuracy as high as around 95% whenever trained utilizing diverse data sets.
Faster Computing Power
According to experts, algorithmic breakthroughs will continue to rise at an incredible movement with pragmatic developments and new problem-solving systems. Artificial Intelligence can already address a good amount of hidden issues that need to be solved in order to make better business decisions. The continued growth of these processes will increase the transparency and efficiency of AI algorithms.
With Reinforced Learning (RL) companies can use deep learning experiences to improve the effectiveness of the data that is captured by machines and get better over time. RL can also be utilized to make chatbots that address simple user queries like greetings, order booking, consultation calls more ingenious by distinguishing certain clients and making more relevant decisions.