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Latest Innovations in the field of AI & ML

Artificial Intelligence can replicate human intelligence to perform actions, logical reasoning, learning, perception, and creativity. An intelligent machine developed by humans to input requests and receive the desired output.

Machine Learning is an artificial intelligence subdiscipline and technique for developing self-learning computer systems. ML platforms are gaining popularity because of high definition algorithms that perform with the utmost accuracy.

Neural Networks a technique of Artificial Intelligence modeled similar to the human brain, can learn and keep improving with the experience and learns with each task.

Deep learning is unsupervised learning, the next generation of artificial intelligence computers that teach themselves to perform high-level thought and perception-based actions.

Market Size:

Global Machine Learning Market was valued at $1.58 billion in 2017 expected to reach $8.8 billion by 2022 and  $20.83 billion by 2024.

Artificial Intelligence predicted to create $3.9 trillion of value for business and cognitive and AI systems will see worldwide investments of $77.6 billion by 2022.

AI and ML have the capability of creating an additional value of $2.6 Trillion in Sales & Marketing and $2 Trillion in manufacturing and supply chain planning by the year 2020.

Unmanned ground vehicles have registered revenues of $1.01 billion globally, in 2018 and expected to reach $2.86 billion by 2024.

Autonomous Farm Equipment market worldwide is projected to reach over $86.4 Billion by the year 2025.

Key Players in Artificial Intelligence:

  • Apple
  • Nvidia Corporation
  • Baidu
  • Intel Corp.
  • Facebook
  • AlphaSense
  • Deepmind
  • iCarbonX
  • Iris AI
  • HiSilicon
  • SenseTime
  • ViSenze
  • Clarifai
  • CloudMinds

Industries Artificial Intelligence Serves:

  • Retail
  • HR & Recruitment
  • Education
  • Marketing
  • Public Relations
  • Healthcare and Medicine
  • Finance
  • Transportation
  • Insurance

Artificial Intelligence can be applied in:

  • Face Recognition
  • Speech Recognition
  • Image Processing
  • Data Mining
  • E-mail Spam Filtering
  • Trading
  • Personal Finance
  • Training
  • Job Search
  • Life and Vehicle Insurance
  • Recruiting Candidates
  • Portfolio Management
  • Consultation
  • Personalized marketing
  • Predictions

Key Players in Machine Learning

  • Google Inc.
  • SAS Institute Inc.
  • FICO
  • Hewlett Packard Enterprise
  • Yottamine Analytics
  • Amazon Web Services
  • BigML, Inc.
  • Microsoft Corporation
  • Predictron Labs Ltd.
  • IBM Corporation
  • Fractal Analytics
  • H2O.ai
  • Skytree
  • Ad text

Industries Machine Learning Serves:

  • Aerospace
  • BFSI
  • Healthcare
  • Retail
  • Information Technology
  • Telecommunication
  • Defense
  • Energy
  • Manufacturing
  • Professional Services

Machine Learning can be applied in:

  • Marketing
  • Advertising
  • Fraud Detection
  • Risk Management
  • Predictive analytics
  • Augmented & Virtual Reality
  • Natural Language Processing
  • Computer Vision
  • Security & Surveillance

Future of AI & ML:

Artificial Intelligence and Machine Learning can support in every task, predict the damages, ease the processes, bring better control and security to the applications and make businesses profitable. Overcome the challenges of every field with AI & ML technology.

In the future, the subsets of AI like Natural language generation, speech recognition, face recognition, text analytics, emotion recognition, and deep learning.

Natural Language Generation converts the data into text for computers to understand and communicate with the user. It can generate reports and summaries using applications created by Digital Reasoning, SAS, Automated Insights, etc.

Speech recognition understands the human language and these interactive systems respond using voice. The apps with voice assistants are preferred by many who don’t prefer text or have typing constraints and lets you pass on instructions while you are busy in other work, cooking, cleaning or driving, etc. E.g. Siri, Alexa, etc. Companies that offer speech recognition services are OpenText, Verint Systems, Nuance Communications, etc.

Virtual Agents interact with humans to provide better customer service and support. Commonly used as chatbots these are becoming easy to build and use. Companies providing virtual agents are Amazon, Apple, Microsoft, Google, IBM, and a few others.

Text Analytics helps machines to structure the sentences and find the precise meaning or intention of the user to improve the search results and develop machine learning.

NLP – Natural language processing helps applications to understand human language input, analyze large amounts of natural language data. It converts unstructured data to structured data for a speedy response to queries.

Emotion Recognition is AI technology that allows reading human emotions by focusing on the face, image, body language, voice, and feelings they express. It captures intention by observing hand gestures, vocabulary, voice tone, etc. E.g. Affectiva Emotion AI is used in industries such as gaming, education, automotive, robotics, healthcare industries, and other fields

Deep learning a machine learning technology that involves neural circuits to replicate the human brain for data processing and creating patterns for decision-making. Companies offering deep learning services are Deep Instinct, Fluid AI, MathWorks, etc.

Every sub-discipline of AI technology is worth exploring. Present-day applications are using these technologies to some extent and in the future, we will see outbursts and advance applications to benefit society and industries.

AI & ML innovations

1. Searches: AI technology has improved the way people search for information online, the text, image and speech search enabled with the recommendations from the search engines. Optimum search in minimum effort and time, faster response rate and relevant results along with the options to suit your requirements are what you can expect as a user. Better search optimizes web content, helps in lowering marketing and advertising expenses, increase in sales and productivity. Eg. Amazon Echo, Google Home, Apple’s Siri, and Microsoft’s Cortana deliver the best search experience. Google’s assistant receives voice instructions for about 70% of its searches.

2. Web Design: Companies know of the fact that how important it is to keep the websites working, creating a user-friendly website that is less expensive. Updating websites is another challenge. AI applications can empower you with pre-built designs of websites; assist you in creating one without any technical expertise, by uploading some basic content, images, etc. Select the buttons for call to action, themes, and formats to create a website that can interact with the user. Better user experience considers the location, demographics, interactions and the speed of analyzing the search and personalizing web experiences. Great web experience has a high probability of conversion. You may even add a chatbot to the website for faster query resolution and increased sales.

3. Banking and Payments: AI can automate transactions, help to schedule transactions and make general and utility payments. Personalized banking can let the banks focus on customer wise preferences and share product information of utmost relevance. Customers investing in the FDs, stocks, NFOs or even based on age to approach with specific marketing material. Loans and its procedures can be automated and the basic level information is shared using chatbots. Perform KYC checks necessary for continuing service from the banks. E.g. Simudyne is an AI-based platform for investment banking. Secure is AI and ML-based identity verification system for KYC.

4. E-Commerce: Retailers achieved a competitive edge using AI technology. It has recommendation systems based on location, age, gender, past purchases, stored preferences, (customer-centric search, etc. Tailor-made recommendations increase the chances of customers visiting the site and making a purchase or even return at a later stage to avail discounts. Chatbots are used for 24×7 customer support, image search lets users find the product faster without entering any text, better the decision making by comparisons and after-sales service. Companies benefit in inventory management, data security, customer relationship management and sales improvement using AI technology. IBM’s Watson assists customers with independent research about the factors relating to the product, its advantages, specifications, restrictions and multiple products that match the criterion.

5. Supply Chain and Logistics: This industry has benefited from the AI technology in improving operations, reducing shipping costs, easy tracking of vehicles, maintenance of vehicles, know about the condition in which the parcel was delivered, real-time reporting and feedback. It can help in quality checks for manufacturing, managing the supply chain vendors, keeping records of warehouse entries, forecasting the demand for products, reducing freights, planning and scheduling deliveries, etc. AI can automate many functions of supply chain and logistics for increased sales and better customer care.

6. Marketing and Sales: AI automation along with ML can give customers better options of products and prices, personalize the recommendations, eliminate geographical constrains, lower the cost of customer acquisition and maintaining touch with the existing customers. The intelligent algorithms predict what users want and what companies can provide to match the best possible. AI can even predict price trends, manage inventory, and help in decision making for stocking. Marketing activities can be channelized based on preferences and consumer behaviors. Services by companies like Phrasee and Persado can determine the perfect subject line for an e-mail, organize e-mail in a way that attracts the user to take desired actions. After-sales and customer care is an important aspect for companies expecting returning customers.

Overall it will increase the profitability of organizations and improve sales and marketing performance. AI can identify new opportunities for business and suggest an effective method too. Predictive analysis is of great help in customer service companies like Netflix and Spotify that run on subscriptions, would like to know if enough registrations are on the way for next month. Decide on additional schemes or marketing efforts are needed for increasing sales.

7. Digital Advertising: AI is supporting in marketing and sales, certainly it can assist in better focus for advertisements shown to the users. Google Adwords lets you focus on demographics, interests and other aspects of the audience. Facebook and Google ads are the platforms that use ML & AI for intelligent and accurate displays of relevant ads. Next is an audience management service that uses machine learning to automate the handling of ads for maximum response and it tests it on a variety of an audience to find the most active participation and likely conversions. The highest conversion rates received because of the increased performance of ads using ad text makes a business profitable.

Digital Advertising

Outline:

The continuous progress of Artificial Intelligence and emerging sub-disciplines will lead to customization and improvement in products and services. Human to Chatbot conversations are new but bot to bot conversations, actions, negotiations and much more awaited and is in the developing stage.

The existence of technology will add value to human life, create reliance and businesses will have new openings and challenges to deal with. Intelligent tools will deliver smart solutions and give rise to innovation to cut the competition.

Jobs Artificial Intelligence

In the previous couple of years, computerized reasoning has progressed so rapidly that it presently appears to be not a month passes by without a newsworthy Artificial Intelligence (AI) achievement. In territories as wide-running as discourse interpretation, medicinal analysis, and interactivity, we have seen PCs beat people in frightening manners.

This has started an exchange about how AI will affect work. Some dread that as Artificial intelligence improves, it will replace laborers, making a consistently developing pool of unemployable people who can’t contend monetarily with machines.
This worry, while reasonable, is unwarranted. Truth be told, AI will be the best employment motor the world has ever observed.

2020 will be a significant year in AI-related work elements, as indicated by Gartner, as AI will turn into a positive employment helper. The number of occupations influenced by Artificial Intelligence will shift by industry; through 2019, social insurance, the open division, and instruction will see constantly developing employment requests while assembling will be hit the hardest. Beginning in 2020, AI-related occupation creation will a cross into positive area, arriving at 2,000,000 net-new openings in 2025, Gartner said in a discharge.

Numerous huge advancements in the past have been related to change the time of impermanent occupation misfortune, trailed by recuperation, at that point business change and AI will probably pursue this course.

Jobs by Artificial Intelligence (AI) and ML

JOBS CREATED BY AI AND MACHINE LEARNING

A similar idea applies to AI. It is an instrument that individuals need to figure out how to utilize and how to apply to what’s going on with as of now. New openings are now being made that are centered around applying AI to security, improving basic AI methods, and on keeping up these new apparatuses.

Plenty of new openings will develop for those with mastery in applying center Artificial Intelligence innovation to new fields and applications. Specialists will be expected to decide the best sort of AI (for example master frameworks or AI), to use for a specific application, create and train the models, and keep up and re-train the frameworks as required. In fields, for example, security, where sellers have enabled security programming with AI, it’s up to clients – the security investigators – to comprehend the new capacities and put them to be the most ideal use.

Training is another field where AI and machine learning is making new openings. As of now, over the US, the main two situations in the rundown of scholastic openings are for Security and Machine Learning specialists. Colleges need more individuals and can’t discover educators to show these fundamentally significant subjects.

FUTURE JOBS PROSPECTS BECAUSE OF AI AND MACHINE LEARNING

In a few businesses, AI will reshape the sorts of employments that are accessible. What’s more, much of the time, these new openings will be more captivating than the monotonous errands of the past. In assembling, laborers who had recently been attached to the generation line, looking for blemished items throughout the day, can be redeployed in increasingly profitable interests — like improving procedures by following up on bits of knowledge gathered from AI-based sensor and vision stages.

These are increasingly specific errands and retraining or uptraining might be important for laborers to successfully satisfy these new jobs — something the two organizations and people should address sooner than later.

Man-made intelligence-based arrangements in any industry produce monstrous measures of information, frequently from heterogeneous sources. Successfully saddling the intensity of this information requires human abilities. Profound learning researchers have come to comprehend that setting is basic for preparing powerful AI models — and people are important to clarify this information to give set in uncertain circumstances and help spread all this present reality varieties an AI framework will experience.

Keeping that in mind, Appen utilizes more than 40,000 remote contractual workers a month to perform information explanation for our customers, drawing from a pool of more than 1 million talented annotators around the world.

These occupations wouldn’t exist without the profound learning innovation that makes AI conceivable. As researchers and designers make immense advances in innovation, organizations and laborers may need to adopt new mechanical aptitudes to remain aggressive.

Simulated intelligence is helping drive work creation in cybersecurity

As the worldwide economy is progressively digitized and mechanized, effectively unavoidable criminal ventures – programmers, malware, and different dangers – will develop exponentially, requiring engineers, analyzers, and security specialists to alleviate dangers to crucial open framework and meet expanding singular personality concerns.

In the previous couple of years there has been an enormous increment in cybersecurity work postings, a large number of which stay unfilled. With this deficiency of cybersecurity experts, most security groups have less time to proactively protect against progressively complex dangers. This interest has made a significant specialty for laborers to fill.

The stream down impact of industry-wide digitalization

In a roundabout way, the efficiencies and openings that profound learning and computerization empower for organizations can make a great many employments. While mechanized conveyance strategies, for example, self-driving conveyance trucks will take a great many drivers off the street, an ongoing Strategy + Business article proposes that, “In reality as we know it where organizations are progressively made a decision on the nature of the client experience they give, you will require representatives who can consolidate the aptitudes of a client care specialist, advertiser, and sales rep to sit in those trucks and connect with clients as they make conveyances.”

Additionally, the higher profitability and positive development empowered by AI will positively affect employing as organizations will just need to procure more laborers to take on existing assignments that require human abilities. Consider client support, publicists, program administrators, and different jobs that require abilities, for example, compassion, moral judgment, and inventiveness.

Growing new aptitudes to endure and flourish

It’s anything but difficult to perceive any reason why laborers and administrators the same may be hesitant to execute AI-controlled mechanization. Be that as it may, as their rivals receive this innovation and start to outpace them in deals, creation, and development, it will expect them to adjust. The two organizations and laborers should put resources into developing new innovative aptitudes to enable them to remain significant in this information-driven scene. If they can do this, the open doors for business and expert development are perpetual.

Development in AI and ML jobs

DEVELOPMENT IN THE FIELD OF AI and ML

Man-made reasoning is a method for making a PC, a PC controlled robot, or a product think keenly, in the comparative way the insightful people think.
Man-made brainpower is a science and innovation dependent on orders, for example, Computer Science, Biology, Psychology, Linguistics, Mathematics, and Engineering. A significant push of Artificial Intelligence (AI) is in the advancement of PC capacities related to human knowledge, for example, thinking, learning, and critical thinking.

AI is a man-made consciousness-based method for creating PC frameworks that learn and advance dependent on experience. Some basic AI applications incorporate working self-driving autos, overseeing speculation reserves, performing legitimate disclosure, making therapeutic analyses, and assessing inventive work. A few machines are in any event, being educated to mess around.

Man-made intelligence and MACHINE LEARNING isn’t the eventual fate of innovation — it’s nowhere. Simply see how voice aides like Google’s Home and Amazon’s Alexa have turned out to be increasingly more unmistakable in our lives. This will just proceed as they adapt more aptitudes and organizations work out their associated gadget biological systems. The accompanying can be viewed as a portion of the significant advancements in the field of AI.

Artificial intelligence in Banking and Payments

This report features which applications in banking and installments are most developed for AI. It offers models where monetary organizations (FIs) and installments firms are as of now utilizing the innovation, talks about how they should approach actualizing it, and gives depictions of merchants of various AI-based arrangements that they might need to think about utilizing.

Computer-based intelligence in E-Commerce

This report diagrams the various uses of AI in retail and gives contextual analyses of how retailers are increasing a focused edge utilizing this innovation. Applications incorporate customizing on the web interfaces, fitting item suggestions, expanding the hunt significance, and giving better client support.

Computer-based intelligence in Supply Chain and Logistics

This report subtleties the variables driving AI appropriation in-store network and coordinations, and looks at how this innovation can decrease expenses and sending times for activities. It likewise clarifies the numerous difficulties organizations face actualizing these sorts of arrangements in their store network and coordinations tasks to receive the rewards of this transformational innovation.

Artificial intelligence in Marketing

This report talks about the top use cases for AI in advertising and looks at those with the best potential in the following couple of years. It stalls how promoting will develop as AI robotizes medicinal undertakings, and investigates how client experience is winding up increasingly customized, pertinent, and auspicious with AI.

CONCLUSION

To close, AI introduces a colossal open door for venturesome individuals. Representatives have the chance to jump into another field and conceptual their business to another, more significant level of investigation and vital worth. Businesses need to help these moves and for the most part remain open to representatives rethinking themselves as they hold onto innovations, for example, AI.

Machine Learning

What is Machine Learning?

Machine learning (ML) is fundamentally a subset of artificial intelligence (AI) that allows the machine to learn automatically. No explicit programs are needed instead of coding you gather data and feed it to the generic algorithm. It is a scientific study of algorithms and statistical models used by computers to perform specific tasks.

The machine builds a logic based on that data. It can access data and teach itself from various instructions, interactions, and queries resolved. ML forms data patterns that help in making better decisions. The machines learn without human interference even in fields where developing a conventional algorithm is not workable. ML includes data mining, data analysis to perform predictive analytics.

Machine learning facilitates the analysis of substantial quantities of data. It can identify profitable opportunities, risks, returns and much more at a very high speed and accuracy. Costs and resources are involved in training the agent to process large volumes of information gathered.

Working of Machine Learning:

Machine Learning algorithm obtains skill by using the training data and develops the ability to work on various tasks. It uses data for accurate predictions. If the results are not satisfactory, we can request it to produce other alternative suggestions. ML can have supervised, semi-supervised, unsupervised or reinforcement learning.

Supervised learning is the machine is trained by the dataset to predict and take decisions. The machine applies this logic to the new data automatically once learned. The system can even suggest new input after adequate training and can even compare the actual output with the intended output. This model learns through observations, corrects the errors by altering the algorithm. The model itself finds the patterns and relationships in the dataset to label the data. It finds structures in the data to form a cluster based on its patterns and uses to increase predictability.

Semi-supervised learning uses labeled and unlabelled data for the training purpose. This is partly supervised machine learning, and it considers labeled data in small quantities and unlabelled data in large quantities. The systems can improve the learning accuracy using this method. If the companies have acquired and labeled data; have skilled and relevant resources in order to train it or learn from it they choose semi-supervised learning.

Unsupervised machine learning algorithms are useful when the information used to train is not classified or labeled. Studies that include unsupervised learning prove how systems can conclude a function to depict a hidden structure from the unlabelled data. The system explores data supposition to describe the obscure structures from the unlabelled data.

Reinforcement machine learning, these algorithms can interact with its environment by generating actions. It can find the best outcome from some trial and errors and the agent earns reward or penalty points to maximize its performance. The model trains itself to predict the new data presented. The reinforcement signal is a must for the agent to find out the best action from the ones its suggestions.

Future of ML

Evolution of Machine Learning:

Machine learning has evolved over a period and experiences continuous growth. It developed the pattern recognition and non-programmed automated learning of computers to perform simple and complex tasks. Initially, the researchers were curious about whether computers can learn with the least human intervention just with the help of data. The machines learn from the previous methods of computations, statistical analysis and can repeat the process for other datasets. It can recommend the users for the product and services, respond to FAQs, notify for subjects of your choice, and even detect fraud.

Machine Learning as of today:

Machine Learning has gained popularity for its data processing and self-learning capacity. It is involved in technological advancements and its contribution to human life is noteworthy. E.g. Self-driving vehicles, robots, chatbots in the service industry and innovative solutions in many fields.

Currently, ML is widely used in :

1. Image Recognition: ML algorithms detect and recognize objects, human faces, locations and help in image search. Facial recognition is widely used in mobile applications such as time punching apps, photo editing apps, chats, and other apps where user authentication is mandatory.

2. Image Processing: Machine learning conducts an autonomous vision useful to improve imaging and computer vision systems. It can compress images and these formats can save storage space, transmit faster. It maintains the quality of images and videos.

3. Data Insights: The automation, digitization, and various AI tools used by the systems provide insights based on an organization’s data. These insights can be standard or customized as per the business need.

4. Market Price: ML helps retailers to collect information about the product, its features, its price, promotions applied, and other important comparatives from various sources, in real-time. Machines convert the information to a usable format, tested with internal and external data sources, and the summary is displayed on the user dashboard. The comparisons and recommendations help in making accurate and beneficial decisions for the business.

5. User Personalisation: It is one of the customer retention tactic used in all the sectors. Customer expectations and company offerings have a commercial aspect attached; hence, personalization is introduced on a wide variety of forms. ML processes massive data of customers such as their internet search, personal information, social media interactions, and preferences stored by the users. It helps companies increase the probability of conversion and profitability with reduced efforts with ML technology. It can help branding, marketing, business growth and improve performance.

6. Healthcare Industry: Machine learning assists to improve healthcare service quality; reduce costs, and increase satisfaction. ML can assist medical professionals by searching the relevant data facts and suggest the latest treatments available for such illnesses. It can suggest the precautionary measures to the patient for better healthcare. AI can maintain patient data and use it as a reference for critical cases in hospitals across the globe. The machines can analyze images of MRI or CT Scan, process clinical procedures videos, check laboratory results, sort patient information and use efficiently. ML algorithms can even identify skin cancer and cancerous tumors by studying mammograms.

7. Wearables: These wearables are changing patient care, with strong monitoring of health as a precaution or prevention of illness. They track the heart rate, pulse rate, oxygen consumption by the muscles and blood sugar level in real-time. It can reduce the chances of heart attack or injury, and can recommend the user for medicine dose, health check-up, type of treatment, and help the faster recovery of the patient. With an enormous amount of data that gets generated in healthcare, the reliance on machine learning is unavoidable.

8. Advanced cybersecurity: Security of data, logins, and personal information, bank and payment details is necessary. The estimated losses that organizations face because of cybercrime are likely to reach $6 trillion yearly. Threat is raising the cybersecurity costs and increasing the burden on the operational expenses of organizations. The ML implementation protects user data, their credentials, saves from phishing attacks and maintains privacy.

9. Content Management: The users can see sensible content on their social media platforms. The companies can draw the attention of the target audience and it reduces their marketing and advertising costs. Based on human interactions these machines can show relevant content.

10. Smart Homes: ML does all mundane tasks for you, maintaining the monthly grocery, cleaning material, and regular purchase lists. It can update the list when there are input and order material on the scheduled date. It increases the security at home by keeping the track of known visitors and barring the other from entering the premise or specifies suspicious activities.

11. Logistics: Machine learning can keep track of the user’s choices for delivery and can suggest based on the instructions and addresses they use often. The confirmations, notifications, and feedback about the delivery is processed by the machines more efficiently and in real-time.

Future of ML:

Do not be surprised if we are found learning dance, music, martial arts, and academic subjects from the Bots. We will shortly experience improved services in travel, healthcare, cybersecurity, and many other industries as the algorithms can run throughout with no break, unlike humans. They not only deal but respond and collect feedback in real-time.

Researchers are developing innovative ways of implementing machine-learning models to detect fraud, defend cyberattacks. The future of transportation is great with the wide-scale adoption of autonomous vehicles.

The voice, sound, image, and face recognition, NLP is creating a better understanding of customer requirements and can serve better through machine learning.

Autonomous Vehicles like self-driving cars can reduce traffic-related problems like accidents and keep the driver safe in case of a mishap. ML is developing powerful technologies to let us operate these autonomous vehicles with ease and confidence. The sensors use the data points to form algorithms that can lead to safe driving.

Deeper personalization is possible with ML as it highlights the possibilities of improvement. The advertisements will be of user choice as more data is available from the collective response of each user for the text or video they see.

The future will simplify the machine learning by extracting data from the devices directly instead of asking the user to fill the choices. The vision processing lets the machine view and understands the images in order to take action.

You can now expect cost-effective and ingenious solutions that will alter your choices and change your set of expectations from the companies and products.

According to the survey by Univa 96% of companies think there will be outbursts in Machine Learning projects by 2020. Two out of ten companies have ML projects running in production. 93% of companies, which participated in the survey, have commenced ML projects. (344 Technology and IT professionals were part of the survey)

Approximately 64% of technology companies, 52% of the finance sector, 43% of healthcare, 31% of retail, telecommunications, and manufacturing companies are using ML and overall 16 industries are already using machine-learning processes.

Final Thoughts:

Machine Learning is building a new future that brings stability to the business and eases human life. Sales data analysis, streamlining data, mobile marketing, dynamic pricing, and personalization, fraud detection, and much more than the technology has already introduced, we will see new heights of technology.

Machine Learning and AI to cut down financial risks

Under 70 years from the day when the very term Artificial Intelligence appeared, it’s turned into a necessary piece of the most requesting and quick-paced enterprises. Groundbreaking official directors and entrepreneurs effectively investigate new AI use in money and different regions to get an aggressive edge available. As a general rule, we don’t understand the amount of Machine Learning and AI is associated with our everyday life.

Artificial Intelligence

Software engineering, computerized reasoning (AI), once in a while called machine knowledge. Conversationally, the expression “man-made consciousness” is regularly used to depict machines that emulate “subjective” capacities that people partner with the human personality.

These procedures incorporate learning (the obtaining of data and principles for utilizing the data), thinking (utilizing standards to arrive at surmised or positive resolutions) and self-redress.

Machine Learning

Machine learning is the coherent examination of counts and verifiable models that PC systems use to play out a specific task without using unequivocal rules, contingent upon models and induction. It is seen as a subset of man-made thinking. Man-made intelligence estimations manufacture a numerical model reliant on test information, known as “getting ready information”, in order to choose figures or decisions without being explicitly adjusted to playing out the task.

Financial Risks

Money related hazard is a term that can apply to organizations, government elements, the monetary market overall, and the person. This hazard is the risk or probability that investors, speculators, or other monetary partners will lose cash.

There are a few explicit hazard factors that can be sorted as a money related hazard. Any hazard is a risk that produces harming or undesirable outcomes. Some increasingly normal and particular money related dangers incorporate credit hazard, liquidity hazard, and operational hazard.

Financial Risks, Machine Learning, and AI

There are numerous approaches to sort an organization’s monetary dangers. One methodology for this is given by isolating budgetary hazards into four general classes: advertise chance, credit chance, liquidity hazard, and operational hazard.

AI and computerized reasoning are set to change the financial business, utilizing tremendous measures of information to assemble models that improve basic leadership, tailor administrations, and improve hazard the board.

1. Market Risk

Market hazard includes the danger of changing conditions in the particular commercial center where an organization goes after business. One case of market hazard is the expanding inclination of shoppers to shop on the web. This part of the market hazard has exhibited noteworthy difficulties in conventional retail organizations.

Utilizations of AI to Market Risk

Exchanging budgetary markets naturally includes the hazard that the model being utilized for exchanging is false, fragmented, or is never again legitimate. This region is commonly known as model hazard the executives. AI is especially fit to pressure testing business sector models to decide coincidental or rising danger in exchanging conduct. An assortment of current use instances of AI for model approval.

It is likewise noticed how AI can be utilized to screen exchanging inside the firm to check that unsatisfactory resources are not being utilized in exchanging models. An intriguing current utilization of model hazard the board is the firm yields. which gives ongoing model checking, model testing for deviations, and model approval, all determined by AI and AI systems.

One future bearing is to move more towards support realizing, where market exchanging calculations are inserted with a capacity to gain from market responses to exchanges and in this way adjust future exchanging to assess how their exchanging will affect market costs.

2. Credit Risk

Credit hazard is the hazard organizations bring about by stretching out credit to clients. It can likewise allude to the organization’s own acknowledge hazard for providers. A business goes out on a limb when it gives financing of buys to its clients, because of the likelihood that a client may default on installment.

Use of AI to Credit Risk

There is currently an expanded enthusiasm by establishments in utilizing AI and AI procedures to improve credit hazard the board rehearses, somewhat because of proof of inadequacy in conventional systems. The proof is that credit hazard the executives’ capacities can be essentially improved through utilizing Machine Learning and AI procedures because of its capacity of semantic comprehension of unstructured information.

The utilization of AI and AI systems to demonstrate credit hazard is certainly not another wonder however it is a growing one. In 1994, Altman and partners played out a first similar investigation between conventional measurable techniques for trouble and chapter 11 forecast and an option neural system calculation and presumed that a consolidated methodology of the two improved precision altogether

It is especially the expanded unpredictability of evaluating credit chance that has opened the entryway to AI. This is apparent in the developing credit default swap (CDS) showcase where there are many questionable components including deciding both the probability of an occasion of default (credit occasion) and assessing the expense of default on the off chance that default happens.

3. Liquidity Risk

Liquidity hazard incorporates resource liquidity and operational subsidizing liquidity chance. Resource liquidity alludes to the relative straightforwardness with which an organization can change over its benefits into money ought to there be an unexpected, generous requirement for extra income. Operational subsidizing liquidity is a reference to everyday income.

Application to liquidity chance

Consistency with hazard the executives’ guidelines is an indispensable capacity for money related firms, particularly post the budgetary emergency. While hazard the board experts regularly try to draw a line between what they do and the frequently bureaucratic need of administrative consistence, the two are inseparably connected as the two of them identify with the general firm frameworks for overseeing hazard. To that degree, consistency is maybe best connected to big business chance administration, in spite of the fact that it contacts explicitly on every one of the hazard elements of credit, market, and operational hazard.

Different favorable circumstances noted are the capacity to free up administrative capital because of the better checking, just as computerization diminishing a portion of the evaluated $70 billion that major money related organizations go through on consistency every year.

4. Operational Risk

Operational dangers allude to the different dangers that can emerge from an organization’s normal business exercises. The operational hazard class incorporates claims, misrepresentation chance, workforce issues, and plan of action chance, which is the hazard that an organization’s models of promoting and development plans may demonstrate to be off base or insufficient.

Application to Operational Risk

Simulated intelligence can help establishments at different stages in the hazard the boarding procedure going from distinguishing hazard introduction, estimating, evaluating, and surveying its belongings. It can likewise help in deciding on a fitting danger relief system and discovering instruments that can encourage moving or exchanging hazards.

Along these lines, utilization of Machine Learning and AI methods for operational hazard the board, which began with attempting to avoid outside misfortunes, for example, charge card cheats, is currently extending to new regions including the examination of broad archive accumulations and the presentation of tedious procedures, just as the discovery of illegal tax avoidance that requires investigation of huge datasets.

Financial Risks

Conclusion

We along these lines finish up on a positive note, about how AI and ML are changing the manner in which we do chance administration. The issue for the set up hazard the board capacities in associations to now consider is on the off chance that they wish to profit of these changes, or if rather it will tumble to present and new FinTech firms to hold onto this space.

Relationship between Big Data, Data Science and ML

Data is all over the place. Truth be told, the measure of advanced data that exists is developing at a fast rate, multiplying like clockwork, and changing the manner in which we live. Supposedly 2.5 billion GB of data was produced each day in 2012.

An article by Forbes states that Data is becoming quicker than any time in recent memory and constantly 2020, about 1.7MB of new data will be made each second for each person on the planet, which makes it critical to know the nuts and bolts of the field in any event. All things considered, here is the place of our future untruths.

Machine Learning, Data Science and Big Data are developing at a cosmic rate and organizations are presently searching for experts who can filter through the goldmine of data and help them drive quick business choices proficiently. IBM predicts that by 2020, the number of employments for all data experts will increment by 364,000 openings to 2,720,000

Big Data Analytics

Big Data

Enormous data is data yet with tremendous size. Huge Data is a term used to portray an accumulation of data that is enormous in size but then developing exponentially with time. In short such data is so huge and complex that none of the customary data the board devices can store it or procedure it productively.

Kinds Of Big Data

1. Structured

Any data that can be put away, got to and handled as a fixed organization is named as structured data. Over the timeframe, ability in software engineering has made more noteworthy progress in creating strategies for working with such sort of data (where the configuration is notable ahead of time) and furthermore determining an incentive out of it. Be that as it may, these days, we are predicting issues when the size of such data develops to an immense degree, regular sizes are being in the anger of different zettabytes.

2. Unstructured

Any data with obscure structure or the structure is delegated unstructured data. Notwithstanding the size being colossal, un-organized data represents various difficulties as far as its handling for inferring an incentive out of it. A regular case of unstructured data is a heterogeneous data source containing a blend of basic content records, pictures, recordings and so forth. Presently day associations have an abundance of data accessible with them yet lamentably, they don’t have a clue how to infer an incentive out of it since this data is in its crude structure or unstructured arrangement.

3. Semi-Structured

Semi-structured data can contain both types of data. We can see semi-organized data as organized in structure however it is really not characterized by for example a table definition in social DBMS. The case of semi-organized data is a data spoken to in an XML document.

Data Science

Data science is an idea used to handle huge data and incorporates data purifying readiness, and investigation. A data researcher accumulates data from numerous sources and applies AI, prescient investigation, and opinion examination to separate basic data from the gathered data collections. They comprehend data from a business perspective and can give precise expectations and experiences that can be utilized to control basic business choices.

Utilizations of Data Science:

  • Internet search: Search motors utilize data science calculations to convey the best outcomes for inquiry questions in a small number of seconds.
  • Digital Advertisements: The whole computerized showcasing range utilizes the data science calculations – from presentation pennants to advanced announcements. This is the mean explanation behind computerized promotions getting higher CTR than conventional ads.
  • Recommender frameworks: The recommender frameworks not just make it simple to discover pertinent items from billions of items accessible yet additionally adds a great deal to the client experience. Many organizations utilize this framework to advance their items and recommendations as per the client’s requests and the significance of data. The proposals depend on the client’s past list items

Machine Learning

It is the use of AI that gives frameworks the capacity to consequently take in and improve for a fact without being unequivocally customized. AI centers around the improvement of PC programs that can get to data and use it learn for themselves.

The way toward learning starts with perceptions or data, for example, models, direct involvement, or guidance, so as to search for examples in data and settle on better choices later on dependent on the models that we give. The essential point is to permit the PCs to adapt naturally without human mediation or help and alter activities as needs are.

ML is the logical investigation of calculations and factual models that PC frameworks use to play out a particular assignment without utilizing unequivocal guidelines, depending on examples and derivation. It is viewed as a subset of man-made reasoning. AI calculations fabricate a numerical model dependent on test data, known as “preparing data”, so as to settle on forecasts or choices without being expressly modified to play out the assignment.

The relationship between Big Data, Machine Learning and Data Science

Since data science is a wide term for various orders, AI fits inside data science. AI utilizes different methods, for example, relapse and directed bunching. Then again, the data’ in data science might possibly develop from a machine or a mechanical procedure. The principle distinction between the two is that data science as a more extensive term centers around calculations and measurements as well as deals with the whole data preparing procedure

Data science can be viewed as the consolidation of different parental orders, including data examination, programming building, data designing, AI, prescient investigation, data examination, and the sky is the limit from there. It incorporates recovery, accumulation, ingestion, and change of a lot of data, on the whole, known as large data.

Data science is in charge of carrying structure to huge data, scanning for convincing examples, and encouraging chiefs to get the progressions adequately to suit the business needs. Data examination and AI are two of the numerous devices and procedures that data science employments.

Data science, Big data, and AI are probably the most sought after areas in the business at the present time. A mix of the correct ranges of abilities and genuine experience can enable you to verify a solid profession in these slanting areas.

In this day and age of huge data, data is being refreshed considerably more every now and again, frequently progressively. Moreover, much progressively unstructured data, for example, discourse, messages, tweets, websites, etc. Another factor is that a lot of this data is regularly created autonomously of the association that needs to utilize it.

This is hazardous, in such a case that data is caught or created by an association itself, at that point they can control how that data is arranged and set up checks and controls to guarantee that the data is exact and complete. Nonetheless, in the event that data is being created from outside sources, at that point there are no ensures that the data is right.

Remotely sourced data is regularly “Untidy.” It requires a lot of work to clean it up and to get it into a useable organization. Moreover, there might be worries over the solidness and on-going accessibility of that data, which shows a business chance on the off chance that it turns out to be a piece of an association’s center basic leadership ability.

This means customary PC structures (Hardware and programming) that associations use for things like preparing deals exchanges, keeping up client record records, charging and obligation gathering, are not appropriate to putting away and dissecting the majority of the new and various kinds of data that are presently accessible.

Therefore, in the course of the most recent couple of years, an entire host of new and intriguing equipment and programming arrangements have been created to manage these new kinds of data.

Specifically, colossal data PC frameworks are great at:

  • Putting away gigantic measures of data:  Customary databases are constrained in the measure of data that they can hold at a sensible expense. Better approaches for putting away data as permitted a practically boundless extension in modest capacity limit.
  • Data cleaning and arranging:  Assorted and untidy data should be changed into a standard organization before it tends to be utilized for AI, the board detailing, or other data related errands.
  • Preparing data rapidly: Huge data isn’t just about there being more data. It should be prepared and broke down rapidly to be of most noteworthy use.

The issue with conventional PC frameworks wasn’t that there was any hypothetical obstruction to them undertaking the preparing required to use enormous data, yet by and by they were excessively moderate, excessively awkward and too costly to even consider doing so.

New data stockpiling and preparing ideal models, for example, have empowered assignments which would have taken weeks or months to procedure to be embraced in only a couple of hours, and at a small amount of the expense of progressively customary data handling draws near.

The manner in which these ideal models does this is to permit data and data handling to be spread crosswise over systems of modest work area PCs. In principle, a huge number of PCs can be associated together to convey enormous computational capacities that are similar to the biggest supercomputers in presence.

ML is the critical device that applies calculations to every one of that data and delivering prescient models that can disclose to you something about individuals’ conduct, in view of what has occurred before previously.

A decent method to consider the connection between huge data and AI is that the data is the crude material that feeds the AI procedure. The substantial advantage to a business is gotten from the prescient model(s) that turns out toward the part of the bargain, not the data used to develop it.

Conclusion

AI and enormous data are along these lines regularly discussed at the same moment, yet it is anything but a balanced relationship. You need AI to get the best out of huge data, yet you don’t require huge data to be capable use AI adequately. In the event that you have only a couple of things of data around a couple of hundred individuals at that point that is sufficient to start building prescient models and making valuable forecasts.

Understanding What Is Conversational AI

For the last couple of hundred years, the total of what correspondence has been verbal, composed, or visual. We talked with our mouths, hands, and utilizing different mediums like braille or a PC. Discussions, specifically, required two distinct things.

Various people and an approach to impart. Things have since taken a noteworthy improvement. We have now opened better approaches to discuss legitimately with our innovation in a conversational setting utilizing a conversational chatbot.

Conversational AI alludes to the utilization of informing applications, discourse-based collaborators and chatbots to computerize correspondence and make customized client encounters at scale. Countless individuals use Facebook Messenger, Kik, WhatsApp and other informing stages to speak with their loved ones consistently. Millions more are exploring different avenues regarding discourse-based colleagues like Amazon Alexa and Google Home.

Applications of Conversational AI

Accordingly, informing and discourse-based stages are quickly uprooting conventional web and portable applications to turn into the new vehicle for intuitive discussions. At the point when joined with robotization and man-made reasoning (AI), these associations can interface people and machines through menial helpers and chatbots.

However, the genuine intensity of conversational AI lies in its capacity to all the while complete exceptionally customized connections with huge quantities of individual clients. Conversational AI can on a very basic level change an association, furnishing more methods for speaking with clients while encouraging more grounded communications and more noteworthy commitment.

Human-made consciousness is a term we’ve started to turn out to be exceptionally acquainted with. When covered inside your most-loved science fiction motion picture, AI is currently a genuine, living, powerhouse of its own.

Conversational AI is in charge of the rationale behind the bots you manufacture. It’s the cerebrum and soul of the chatbot. It’s what enables the bot to carry your clients to a particular objective. Without conversational AI, your bot is only a lot of inquiries and answers.

Conversational AI

Few Examples Of Conversational AI

Facebook Messenger

Facebook has bounced completely on the conversational trade temporary fad and is wagering enormous that it can transform its mainstream Messenger application into a business informing powerhouse.

The organization originally incorporated shared installments into Messenger in 2015, and after that propelled a full chatbot API so organizations can make cooperations for clients to happen inside the Facebook Messenger application. You can request blooms from 1–800-Flowers, peruse the most stylish trend and make buys from Spring, and request an Uber, all from inside a Messenger talk.

Operator

Administrator considers itself a “demand organize” expecting to “open the 90% of business that is not on the web.” The Operator application, created by Uber fellow benefactor Garrett Camp, interfaces you with a system of “administrators” who act like attendants who can execute any shopping-related solicitation.

You can request show passes, get blessing thoughts, or even get inside plan proposals for new furnishings. Administrator is by all accounts situating itself towards “high thought” buys, greater ticket buys requiring more research and skill, where its administrators can increase the value of an exchange.

Administrator’s specialists are a blend of Operator workers, in-store reps, and brand reps. The organization is additionally creating man-made consciousness to help the course ask for. Almost certainly the administration will wind up more astute after some time, joining AI for productivity and human mastery for quality suggestions.

Amazon Echo

Amazon’s Echo gadget has been an unexpected hit, coming to over 3M units sold in under a year and a half. Albeit some portion of this achievement can be ascribed to the gigantic mindfulness building intensity of the Amazon.com landing page, the gadget gets positive surveys from clients and specialists the same and has even incited Google to build up its own adaptation of a similar gadget, Google Home.

What does the Echo have to do with conversational business? While the most widely recognized utilization of the gadget incorporates playing music, making educational inquiries, and controlling home gadgets, Alexa (the gadget’s default addressable name) can likewise take advantage of Amazon’s full item inventory just as your request history and brilliantly complete directions to purchase stuff. You can re-request normally requested things, or even have Alexa walk you through certain alternatives in buying something you’ve never requested.

Snapchat Discover + Snapcash

Brands are falling over themselves to connect to Snapchat, and the ultra-well known informing application among youngsters and Millennials has as of late been offering some enticing sign that it will end up being a considerably all the more convincing internet business stage sooner rather than later.

In 2015, Snapchat propelled Snapcash, a virtual wallet which enables clients to store their charge card on Snapchat and send cash between companions with a basic message.

While this was a restricted test, it demonstrates that Snapchat sees potential in empowering direct trade (likely satisfied through Snapcash installments) inside the Snapchat application, opening the entryway to many fascinating better approaches to brands to interface and offer items to Snapchatters.

AppleTV and Siri

With a year ago’s invigorate of AppleTV, Apple brought its Siri voice partner to the focal point of the UI. You would now be able to ask Siri to play your preferred TV appears, check the climate, look for and purchase explicit kinds of motion pictures, and an assortment of other explicit errands.

Albeit a long ways behind Amazon’s Echo as far as expansiveness of usefulness, Apple will no uncertainty grow Siri’s joining into AppleTV, and its reasonable that the organization will present another adaptation of AppleTV that all the more legitimately contends with the Echo, maybe with a voice remote control that is continually tuning in for directions.

Businesses and conversational AI

Organizations can utilize Conversational AI to robotize clients confronting touchpoints all over – via web-based networking media stages like Facebook and Twitter, on their site, their application or even on voice aides like Google Home. Conversational AI frameworks offer an increasingly clear and direct pipeline for clients sort issues out, address concerns and arrive at objectives.

Both the terms ‘Chatbot‘ and ‘Conversational AI’ have a similar significance.

How It Works To Engage Customers

1) It’s convenient, all day, every day

The greatest advantage of having a conversational AI arrangement is the moment reaction rate. Noting inquiries inside an hour means 7X greater probability of changing over a lead. Clients are bound to discuss a negative encounter than a positive one. So stopping a negative survey directly from developing in any way is going to help improve your item’s image standing.

2) Customers incline toward informing

The market shapes client conduct. Gartner anticipated that ‘40% of versatile collaborations will be overseen by shrewd specialists by 2020. ’ Every single business out there today either has a chatbot as of now or is thinking about one. 30% of clients hope to see a live visit alternative on your site. 3 out of 10 shoppers would surrender telephone calls to utilize informing. As an ever-increasing number of clients start anticipating that your organization should have an immediate method to get in touch with you, it bodes well to have a touchpoint on a detachment.

3) It’s connecting with and conversational

We’ve just lauded the advantages of having a direct hotline for clients to contact you. Be that as it may, the conversational angle is the thing that separates this strategy from some other.

Chatbots make for incredible commitment devices. Commitment drives tenacity, which drives retention — and that, thus, drives development.

4) Scalability: Infinite

Chatbots can quickly and effectively handle an enormous volume of client questions without requiring any expansion in group size. This is particularly helpful on the off chance that you expect or abruptly observe a huge spike in client questions. A spike like this is a catastrophe waiting to happen in case you’re totally subject to a little group of human operators.

How Businesses Can Use Conversational AI

Your business is speaking with a client for the duration of the time they’re utilizing your item. As far as we can tell conveying conversational AI answers for undertakings, we’ve seen that some utilization cases can use such innovation superior to other people.

Our rundown of the best performing use cases is underneath:

  • Ushering a client in (Lead Generation): Haptik’s Lead Bots have seen 10Xbetter change rates contrasted with standard web structures.
  • Answer questions and handle grumblings when they come in (Customer Support): Gartner predicts that by 2021, 25% of endeavors over the globe will have a remote helper to deal with help issues.
  • Keeping current clients glad (Customer Engagement): Our customers have seen a 65% expansion in degrees of consistency essentially by stopping an intuitive utility chatbot inside their application.
  • Learning from clients to improve your item after some time (Feedback and Insights): Customers are 3X bound to impart their input to a Bot than fill study structures.

Organizations are no special case to this standard, as an ever-increasing number of clients presently expect and incline toward talk as the essential method of correspondence, it bodes well to use the numerous advantages Conversational AI offers. It’s not only for the client, but your business can also decrease operational expenses and scale tasks hugely as well.

By guaranteeing that you’re accessible to tune in and converse with your client whenever of the day, Conversational AI guarantees that your business consistently wins good grades for commitment and availability. So, Conversational AI works all over the place.

Any business in any space that has a client touchpoint can utilize a Conversational virtual specialist. It’s better for clients and for the business. Nothing else matters.

8 resources to get free training data for ml systems

The current technological landscape has exhibited the need for feeding Machine Learning systems with useful training data sets. Training data helps a program understand how to apply technology such as neural networks. This is to help it to learn and produce sophisticated results.

The accuracy and relevance of these sets pertaining to the ML system they are being fed into are of paramount importance, for that dictates the success of the final model. For example, if a customer service chatbot is to be created which responds courteously to user complaints and queries, its competency will be highly determined by the relevancy of the training data sets given to it.

To facilitate the quest for reliable training data sets, here is a list of resources which are available free of cost.

Kaggle

Owned by Google LLC, Kaggle is a community of data science enthusiasts who can access and contribute to its repository of code and data sets. Its members are allowed to vote and run kernel/scripts on the available datasets. The interface allows users to raise doubts and answer queries from fellow community members. Also, collaborators can be invited for direct feedback.

The training data sets uploaded on Kaggle can be sorted using filters such as usability, new and most voted among others. Users can access more than 20,000 unique data sets on the platform.

Kaggle is also popularly known among the AI and ML communities for its machine learning competitions, Kaggle kernels, public datasets platform, Kaggle learn and jobs board.

Examples of training datasets found here include Satellite Photograph Order and Manufacturing Process Failures.

Registry of Open Data on AWS

As its website displays, Amazon Web Services allows its users to share any volume of data with as many people they’d like to. A subsidiary of Amazon, it allows users to analyze and build services on top of data which has been shared on it.  The training data can be accessed by visiting the Registry for Open Data on AWS.

Each training dataset search result is accompanied by a list of examples wherein the data could be used, thus deepening the user’s understanding of the set’s capabilities.

The platform emphasizes the fact that sharing data in the cloud platform allows the community to spend more time analyzing data rather than searching for it.

Examples of training datasets found here include Landsat Images and Common Crawl Corpus.

UCI Machine Learning Repository

Run by the School of Information & Computer Science, UC Irvine, this repository contains a vast collection of ML system needs such as databases, domain theories, and data generators. Based on the type of machine learning problem, the datasets have been classified. The repository has also been observed to have some ready to use data sets which have already been cleaned.

While searching for suitable training data sets, the user can browse through titles such as default task, attribute type, and area among others. These titles allow the user to explore a variety of options regarding the type of training data sets which would suit their ML models best.

The UCI Machine Learning Repository allows users to go through the catalog in the repository along with datasets outside it.

Examples of training data sets found here include Email Spam and Wine Classification.

Microsoft Research Open Data

The purpose of this platform is to promote the collaboration of data scientists all over the world. A collaboration between multiple teams at Microsoft, it provides an opportunity for exchanging training data sets and a culture of collaboration and research.

The interface allows users to select datasets under categories such as Computer Science, Biology, Social Science, Information Science, etc. The available file types are also mentioned along with details of their licensing.

Datasets spanning from Microsoft Research to advance state of the art research under domain-specific sciences can be accessed in this platform.

GitHub.com/awesomedata/awesomepublicdatasets

GitHub is a community of software developers who apart from many things can access free datasets. Companies like Buzzfeed are also known to have uploaded data sets on federal surveillance planes, zika virus, etc. Being an open-source platform, it allows users to contribute and learn about training data sets and the ones most suitable for their AI/ML models.

Socrata Open Data

This portal contains a vast variety of data sets which can be viewed on its platform and downloaded. Users will have to sort through data which is currently valid and clean to find the most useful ones. The platform allows the data to be viewed in a tabular form. This added with its built-in visualization tools makes the training data in the platform easy to retrieve and study.

Examples of sets found in this platform include White House Staff Salaries and Workplace Fatalities by US State.

R/datasets

This subreddit is dedicated to sharing training datasets which could be of interest to multiple community members. Since these are uploaded by everyday users, the quality and consistency of the training sets could vary, but the useful ones can be easily filtered out.

Examples of training datasets found in this subreddit include New York City Property Tax Data and Jeopardy Questions.

Academic Torrents

This is basically a data aggregator in which training data from scientific papers can be accessed. The training data sets found here are in many cases massive and they can be accessed directly on the site. If the user has a BitTorrent client, they can download any available training data set immediately.

Examples of available training data sets include Enron Emails and Student Learning Factors.

Conclusion

In an age where data is arguably the world’s most valuable resource, the number of platforms which provide this is also vast. Each platform caters to its own niche within the field while also displaying commonly sought after datasets.  While the quality of training data sets could vary across the board, with the appropriate filters, users can access and download the data sets which suit their machine learning models best. If you need a custom dataset, do check us out here, share your requirements with us, and we’ll more than happy to help you out!

The need for training data in ai and ml models

Not very long ago, sometime towards the end of the first decade of the 21st century, internet users everywhere around the world began seeing fidelity tests while logging onto websites. You were shown an image of a text, with one word or usually two, and you had to type the words correctly to be able to proceed further. This was their way of identifying that you were, in fact, human, and not a line of code trying to worm its way through to extract sensitive information from said website. While it was true, this wasn’t the whole story.

Turns out, only one of the two Captcha words shown to you were part of the test, and the other was an image of a word taken from an as yet non-transcribed book. And you, along with millions of unsuspecting users worldwide, contributed to the digitization of the entire Google Books archive by 2011. Another use case of such an endeavor was to train AI in Optical Character Recognition (OCR), the result of which is today’s Google Lens, besides other products.

Do you really need millions of users to build an AI? How exactly was all this transcribed data used to make a machine understand paragraphs, lines, and individual words? And what about companies that are not as big as Google – can they dream of building their own smart bot? This article will answer all these questions by explaining the role of datasets in artificial intelligence and machine learning.

ML and AI – smart tools to build smarter computers

In our efforts to make computers intelligent – teach them to find answers to problems without being explicitly programmed for every single need – we had to learn new computational techniques. They were already well endowed with multiple superhuman abilities: computers were superior calculators, so we taught them how to do math; we taught them language, and they were able to spell and even say “dog”; they were huge reservoirs of memory, hence we used them to store gigabytes of documents, pictures, and video; we created GPUs and they let us manipulate visual graphics in games and movies. What we wanted now was for the computer to help us spot a dog in a picture full of animals, go through its memory to identify and label the particular breed among thousands of possibilities, and finally morph the dog to give it the head of a lion that I captured on my last safari. This isn’t an exaggerated reality – FaceApp today shows you an older version of yourself by going through more or less the same steps.

For this, we needed to develop better programs that would let them learn how to find answers and not just be glorified calculators – the beginning of artificial intelligence. This need gave rise to several models in Machine Learning, which can be understood as tools that enhanced computers into thinking systems (loosely).

Machine Learning Models

Machine Learning is a field which explores the development of algorithms that can learn from data and then use that learning to predict outcomes. There are primarily three categories that ML models are divided into:

Supervised Learning

These algorithms are provided data as example inputs and desired outputs. The goal is to generate a function that maps the inputs to outputs with the most optimal settings that result in the highest accuracy.

Unsupervised Learning

There are no desired outputs. The model is programmed to identify its own structure in the given input data.

Reinforcement Learning

The algorithm is given a goal or target condition to meet and it is left to its devices to learn by trial and error. It uses past results to inform itself about both optimal and detrimental paths and charts the best path to the desired endgame result.

In each of these philosophies, the algorithm is designed for a generic learning process and exposed to data or a problem. In essence, the written program only teaches a wholesome approach to the problem and the algorithm learns the best way to solve it.

Based on the kind of problem-solving approach, we have the following major machine learning models being used today:

  • Regression
    These are statistical models applicable to numeric data to find out a relationship between the given input and desired output. They fall under supervised machine learning. The model tries to find coefficients that best fit the relationship between the two varying conditions. Success is defined by having as little noise and redundancy in the output as possible.

    Examples: Linear regression, polynomial regression, etc.
  • Classification
    These models predict or explain one outcome among a few possible class values. They are another type of supervised ML model. Essentially, they classify the given data as belonging to one type or ending up as one output.

    Examples: Logistic regression, decision trees, random forests, etc.
  • Decision Trees and Random Forests
    A decision tree is based on numerous binary nodes with a Yes/No decision marker at each. Random forests are made of decision trees, where accurate outputs are obtained by processing multiple decision trees and results combined.
  • Naïve Bayes Classifiers
    These are a family of probabilistic classifiers that use Bayes’ theorem in the decision rule. The input features are assumed to be independent, hence the name naïve. The model is highly scalable and competitive when compared to advanced models.
  • Clustering
    Clustering models are a part of unsupervised machine learning. They are not given any desired output but identify clusters or groups based on shared characteristics. Usually, the output is verified using visualizations.

    Examples: K-means, DBSCAN, mean shift clustering, etc.
  • Dimensionality Reduction
    In these models, the algorithm identifies the least important data from the given set. Based on the required output criteria, some information is labeled redundant or unimportant for the desired analysis. For huge datasets, this is an invaluable ability to have a manageable analysis size.

    Examples: Principal component analysis, t-stochastic neighbor embedding, etc.
  • Neural Networks and Deep Learning
    One of the most widely used models in AI and ML today, neural networks are designed to capture numerous patterns in the input dataset. This is achieved by imitating the neural structure of the human brain, with each node representing a neuron. Every node is given activation functions with weights that determine its interaction with its neighbors and adjusted with each calculation. The model has an input layer, hidden layers with neurons, and an output layer. It is called deep learning when many hidden layers are encapsulating a wide variety of architectures that can be implemented. ML using deep neural networks requires a lot of data and high computational power. The results are without a doubt the most accurate, and they have been very successful in processing images, language, audio, and videos.

There is no single ML model that offers solutions to all AI requirements. Each problem has its own distinct challenges, and knowledge of the workings behind each model is mandatory to be able to use them efficiently. For example, regression models are best suited for forecasting data and for risk assessment. Clustering modes in handwriting recognition and image recognition, decision trees to understand patterns and identify disease trends, naïve Bayes classifier for sentiment analysis, ranking websites and documents, deep neural networks models in computer vision, natural language processing, and financial markets, etc. are more such use cases.

The need for training data in ML models

Any machine learning model that we choose needs data to train its algorithm on. Without training data, all the algorithm understands is how to approach the given problem, and without proper calibration, so to speak, the results won’t be accurate enough. Before training, the model is just a theorist, without the fine-tuning to its settings necessary to start working as a usable tool.

While using datasets to teach the model, training data needs to be of a large size and high quality. All of AI’s learning happens only through this data. So it makes sense to have as big a dataset as is required to include variety, subtlety, and nuance that makes the model viable for practical use. Simple models designed to solve straight-forward problems might not require a humongous dataset, but most deep learning algorithms have their architecture coded to facilitate a deep simulation of real-world features.

The other major factor to consider while building or using training data is the quality of labeling or annotation. If you’re trying to teach a bot to speak the human language or write in it, it’s not just enough to have millions of lines of dialogue or script. What really makes the difference is readability, accurate meaning, effective use of language, recall, etc. Similarly, if you are building a system to identify emotion from facial images, the training data needs to have high accuracy in labeling corners of eyes and eyebrows, edges of the mouth, the tip of the nose and textures for facial muscles. High-quality training data also makes it faster to train your model accurately. Required volumes can be significantly reduced, saving time, effort (more on this shortly) and money.

Datasets are also used to test the results of training. Model predictions are compared to testing data values to determine the accuracy achieved until then. Datasets are quite central to building AI – your model is only as good as the quality of your training data.

How to build datasets?

With heavy requirements in quantity and quality, it is clear that getting your hands on reliable datasets is not an easy task. You need bespoke datasets that match your exact requirements. The best training data is tailored for the complexity of the ask as opposed to being the best-fit choice from a list of options. Being able to build a completely adaptive and curated dataset is invaluable for businesses developing artificial intelligence.

On the contrary, having a repository of several generic datasets is more beneficial for a business selling training data. There are also plenty of open-source datasets available online for different categories of training data. MNIST, ImageNet, CIFAR provide images. For text datasets, one can use WordNet, WikiText, Yelp Open Dataset, etc. Datasets for facial images, videos, sentiment analysis, graphs and networks, speech, music, and even government stats are all easily found on the web.

Another option to build datasets is to scrape websites. For example, one can take customer reviews off e-commerce websites to train classification models for sentiment analysis use cases. Images can be downloaded en masse as well. Such data needs further processing before it can be used to train ML models. You will have to clean this data to remove duplicates, or to identify unrelated or poor-quality data.

Irrespective of the method of procurement, a vigilant developer is always likely to place their bets on something personalized for their product that can address specific needs. The most ideal solutions are those that are painstakingly built from scratch with high levels of precision and accuracy with the ability to scale. The last bit cannot be underestimated – AI and ML have an equally important volume side to their success conditions.

Coming back to Google, what are they doing lately with their ingenious crowd-sourcing model? We don’t see a lot of captcha text anymore. As fidelity tests, web users are now annotating images to identify patterns and symbols. All the traffic lights, trucks, buses and road crossings that you mark today are innocuously building training data to develop their latest tech for self-driving cars. The question is, what’s next for AI and how can we leverage human effort that is central to realizing machine intelligence through training datasets?

8 common myths about machine learning

Artificial Intelligence and the idea of it has always been around be it research or sci-fi movies. But the advances in AI wasn’t drastic until recently. Guess what changed? The focus moved from vast AI to components of AI such as machine learning, natural language processing, and other technologies that make it possible.

Learning models which form the core of AI started being used extensively. This shift of focus to Machine Learning gave rise to various libraries and tools which make ML models easily accessible. Here are some common myths surrounding Machine Learning:

Machine Learning, Deep Learning, Artificial Intelligence are all the same

In a recent survey by TechTalks, it was discovered that more than 30% of the companies wrongly claim to use Advance Machine Learning models to improve their operations and automate the process. Most people use AI and ML synonymously. How different are AI, ML and Deep Learning?

Machine Learning is a branch of Artificial Intelligence which has learning algorithms powered by annotated data which learn through experiences. There are primarily two types of learning algorithms.

Supervised Learning algorithms draw patterns based on the input and output values of the datasets. It starts predicting the outputs from the training data sets with possible input and output values.

Unsupervised learning models look at all the data fed into the model and find out patterns in the data. It uses unstructured and unlabeled data sets.

Artificial Intelligence, on the other hand, is a very broad area of Computer Science, where robust engineering and technological advances are used to build systems that need minimal or no human intelligence. Everything from the auto-player in video games to predictive analytics used to forecast sales fall under the same roof using some Machine Learning algorithms

Deep Learning uses a set of ML algorithms to model abstraction in data sets with system architecture. It is an approach used to build and train neural networks.

All data is useful to train a Machine Learning model

Another common myth around Machine learning models is that all the data is useful to improve the outputs of the model. The raw data is never clean and representative of the outputs.

To train the Machine Learning models to learn the accurate outputs expected, data sets need to be labeled with relevance. Irrelevant data needs to be removed.

The accuracy of the model is directly correlated to the quality of the data sets. The quality of the trained data sets results in better accuracy rather than a huge amount of raw/unlabelled data.

Building an ML system is easy with unsupervised learning and ‘Black Box Models’

The most business decision will require very specific evaluation, to make strategic data-driven decisions. Unsupervised and ‘Black Box’ models use algorithms randomly and highlight data patterns making it biased towards patterns which aren’t relevant.

The usability and relevance of these patterns to the objective the business the focus is on are a lot less when these models are used. Black box systems do not reveal what patterns they have used to arrive at certain conclusions. Supervised or Reinforcement learning trained with curated, labeled data sets can surgically investigate the data and give us the desired outputs.

ML will replace people and kill jobs

The usual notion around any advanced technology is that it will replace people and make people jobless. According to Erik Brynjolfsson and Daniel Rock, with MIT, and TomMitchell of Carnegie Mellon University, ML will kill the automated or painfully redundant tasks, not jobs.

Humans will spend more time on decision making jobs rather than repetitive tasks which ML can take care of. The job market will see a significant reduction in repetitive job roles but the wave of ML, AI will create a new sector of jobs to handle the data, train it and derive outcomes based on the ML systems.

Machine Learning can only discover correlations between objects and not causal relationships

A common perception of Machine Learning is that it discovers easy correlations and not insightful outputs. Machine Learning used in conjunction with thematic roles and relationship models of NLP will provide rich insights. Contrary to common belief, ML can identify causal relationships. This is commonly used to try out different use cases and observing the consequences of the cases.

Machine learning can work without human intervention

Most decisions from the ML models will need human intelligence and intervention. For examples, an airlines company may adopt ML algorithms to get better insights and influence best ticket prices. Data sets are constantly updated and complex algorithms may be run on it.

But, to decide the price of a flight by the system itself has a lot of loopholes, the company will hire an analyst who will analyze the data and sets prices with the help of models and their analytical skills, not just relying on the model alone.

The reasoning behind the decision making is still a human intelligence one. Complete control should not be rested on models for optimal results.

Machine Learning is the same as Data mining

Data mining is a technique to examine databases and discover the properties of data sets. The reasons its often confused is because Data Analytics uses these data sets using data visualization techniques. Whereas, Machine Learning is a subfield which uses curated data sets to teach systems the desired outputs and make predictions.

There is similarity when unsupervised learning Ml models use datasets to draw insights from them, which is precisely what data mining does. Machine Learning can be used for data mining.

The common confusion between the two arises due to a new term being used extensively, Data Science. Most Data mining-focused professionals and companies are leaning towards using Data science and analytics now causing more confusion.

ML takes a few months to master and is simple

To be an efficient ML Engineer, a lot of experience and research is needed. Contrary to the hype, ML is more than importing existing libraries in languages and using Tensor Flow or Keras. These can be used with minimal training but takes an experienced hand to provide accuracy.

A lot of intense Machine Learning focussed products require intense research on topics and even coming up with approaches using methods that are in discussion at a university or research level. Already existing libraries solve very generic problems people are trying to solve and not really insightful data. A deeper understanding of algorithms is needed to create an accurate model with an improved f1(accuracy) score.

To sum up, there is an overlap of concepts and models in Machine Learning, Artificial Intelligence, Data Science and Deep Learning. However, the goal and science of the subfields vastly vary. To build completely automated AI systems, all the fields become crucial and play a distinct role.

Understanding the difference between AI, ML & NLP models

Technology has revolutionized our lives and is constantly changing and progressing. The most flourishing technologies include Artificial Intelligence, Machine Learning, Natural Language Processing, and Deep Learning. These are the most trending technologies growing at a fast pace and are today’s leading-edge technologies.

These terms are generally used together in some contexts but do not mean the same and are related to each other in some or the other way. ML is one of the leading areas of AI which allows computers to learn by themselves and NLP is a branch of AI.

What is Artificial Intelligence?

Artificial refers to something not real and Intelligence stands for the ability of understanding, thinking, creating and logically figuring out things. These two terms together can be used to define something which is not real yet intelligent.

AI is a field of computer science that emphasizes on making intelligent machines to perform tasks commonly associated with intelligent beings. It basically deals with intelligence exhibited by software and machines.

While we have only recently begun making meaningful strides in AI, its application has encompassed a wide spread of areas and impressive use-cases. AI finds application in very many fields, from assisting cameras, recognizing landscapes, and enhancing picture quality to use-cases as diverse and distinct as self-driving cars, autonomous robotics, virtual reality, surveillance, finance, and health industries.

History of AI

The first work towards AI was carried out in 1943 with the evolution of Artificial Neurons. In 1950, Turing test was conducted by Alan Turing that can check the machine’s ability to exhibit intelligence.

The first chatbot was developed in 1966 and was named ELIZA followed by the development of the first smart robot, WABOT-1. The first AI vacuum cleaner, ROOMBA was introduced in the year 2002. Finally, AI entered the world of business with companies like Facebook and Twitter using it.

Google’s Android app “Google Now”, launched in the year 2012 was again an AI application. The most recent wonder of AI is “the Project Debater” from IBM. AI has currently reached a remarkable position

The areas of application of AI include

  • Chat-bots – An ever-present agent ready to listen to your needs complaints and thoughts and respond appropriately and automatically in a timely fashion is an asset that finds application in many places — virtual agents, friendly therapists, automated agents for companies, and more.
  • Self-Driving Cars: Computer Vision is the fundamental technology behind developing autonomous vehicles. Most leading car manufacturers in the world are reaping the benefits of investing in artificial intelligence for developing on-road versions of hands-free technology.
  • Computer Vision: Computer Vision is the process of computer systems and robots responding to visual inputs — most commonly images and videos.
  • Facial Recognition: AI helps you detect faces, identify faces by name, understand emotion, recognize complexion and that’s not the end of it.

What is Machine Learning?

One of the major applications of Artificial Intelligence is machine learning. ML is not a sub-domain of AI but can be generally termed as a sub-field of AI. The field of machine learning is concerned with the question of how to construct computer programs that automatically improve with experience.

Implementing an ML model requires a lot of data known as training data which is fed into the model and based on this data, the machine learns to perform several tasks. This data could be anything such as text, images, audio, etc…

 Machine learning draws on concepts and results from many fields, including statistics, artificial intelligence, philosophy, information theory, biology, cognitive science, computational complexity and control theory. ML itself is a self-learning algorithm. The different algorithms of ML include Decision Trees, Neural Networks, SEO, Candidate Elimination, Find-S, etc.

History of Machine Learning

The roots of ML lie way back in the 17th century with the introduction of Mechanical Adder and Mechanical System for Statistical Calculations. Turing Test conducted in 1950 was again a turning point in the field of ML.

The most important feature of ML is “Self-Learning”. The first computer learning program was written by Arthur Samuel for the game of checkers followed by the designing of perceptron (neural network). “The Nearest Neighbor” algorithm was written for pattern recognition.

Finally, the introduction of adaptive learning was introduced in the early 2000s which is currently progressing rapidly with Deep Learning is one of its best examples.

Different types of machine learning approaches are:

Supervised Learning uses training data which is correctly labeled to teach relationships between given input variables and the preferred output.

Unsupervised Learning doesn’t have a training data set but can be used to detect repetitive patterns and styles.

Reinforcement Learning encourages trial-and-error learning by rewarding and punishing respectively for preferred and undesired results.

ML has several applications in various fields such as

  • Customer Service: ML is revolutionizing customer service, catering to customers by providing tailored individual resolutions as well as enhancing the human service agent capability through profiling and suggesting proven solutions. 
  • HealthCare: The use of different sensors and devices use data to access a patient’s health status in real-time.
  • Financial Services: To get the key insights into financial data and to prevent financial frauds.
  • Sales and Marketing: This majorly includes digital marketing, which is currently an emerging field, uses several machine learning algorithms to enhance the purchases and to enhance the ideal buyer journey.

What is Natural Language Processing?

Natural Language Processing is an AI method of communicating with an intelligent system using a natural language.

Natural Language Processing (NLP) and its variants Natural Language Understanding (NLU) and Natural Language Generation (NLG) are processes which teach human language to computers. They can then use their understanding of our language to interact with us without the need for a machine language intermediary.

History of NLP

NLP was introduced mainly for machine translation. In the early 1950s attempts were made to automate language translation. The growth of NLP started during the early ’90s which involved the direct application of statistical methods to NLP itself. In 2006, more advancement took place with the launch of IBM’s Watson, an AI system which is capable of answering questions posed in natural language. The invention of Siri’s speech recognition in the field of NLP’s research and development is booming.

Few Applications of NLP include

  • Sentiment Analysis – Majorly helps in monitoring Social Media
  • Speech Recognition – The ability of a computer to listen to a human voice, analyze and respond.
  • Text Classification – Text classification is used to assign tags to text according to the content.
  • Grammar Correction – Used by software like MS-Word for spell-checking.

What is Deep Learning?

The term “Deep Learning” was first coined in 2006. Deep Learning is a field of machine learning where algorithms are motivated by artificial neural networks (ANN). It is an AI function that acts lie a human brain for processing large data-sets. A different set of patterns are created which are used for decision making.

The motive of introducing Deep Learning is to move Machine Learning closer to its main aim. Cat Experiment conducted in 2012 figured out the difficulties of Unsupervised Learning. Deep learning uses “Supervised Learning” where a neural network is trained using “Unsupervised Learning”.

Taking inspiration from the latest research in human cognition and functioning of the brain, neural network algorithms were developed which used several ‘nodes’ that process information like how neurons do. These networks have multiple layers of nodes (deep nodes and surface nodes) for different complexities, hence the term deep learning. The different activation functions used in Deep Learning include linear, sigmoid, tanh, etc.…

History of Deep Learning

The history of Deep Learning includes the introduction of “The Back-Propagation” algorithm, which was introduced in 1974, used for enhancing prediction accuracy in ML.  Recurrent Neural Network was introduced in 1986 which takes a series of inputs with no predefined limit, followed by the introduction of Bidirectional Recurrent Neural Network in 1997.  In 2009 Salakhutdinov & Hinton introduced Deep Boltzmann Machines. In the year 2012, Geoffrey Hinton introduced Dropout, an efficient way of training neural networks

Applications of Deep Learning are

  • Text and Character generation – Natural Language Generation.
  • Automatic Machine Translation – Automatic translation of text and images.
  • Facial Recognition: Computer Vision helps you detect faces, identify faces by name, understand emotion, recognize complexion and that’s not the end of it.
  • Robotics: Deep learning has also been found to be effective at handling multi-modal data generated in robotic sensing applications.

Key Differences between AI, ML, and NLP

Artificial intelligence (AI) is closely related to making machines intelligent and make them perform human tasks. Any object turning smart for example, washing machine, cars, refrigerator, television becomes an artificially intelligent object. Machine Learning and Artificial Intelligence are the terms often used together but aren’t the same.

ML is an application of AI. Machine Learning is basically the ability of a system to learn by itself without being explicitly programmed. Deep Learning is a part of Machine Learning which is applied to larger data-sets and based on ANN (Artificial Neural Networks).

The main technology used in NLP (Natural Language Processing) which mainly focuses on teaching natural/human language to computers. NLP is again a part of AI and sometimes overlaps with ML to perform tasks. DL is the same as ML or an extended version of ML and both are fields of AI. NLP is a part of AI which overlaps with ML & DL.