Last month I spoke to one of my clients. During the discussion, I realized that cloud and SaaS applications have changed the business landscape and helped business owners. After the cloud ERP solution, my client saved about $2000 per month since they had no hardware and its maintenance, IT staff, etc.
I was just wondering how artificial intelligence (AI) and machine learning (ML) could transform the lives of business owners and the industry. Today we see them in all phases of our lives, but we cannot distinguish them separately. You are part of our life.
How are AI and ML disrupting the industry?
In the manufacturing industry, AI together with IOT tools suggests CNC machines what to produce, when to produce and how much to produce. This has improved the efficiency and utilization of machines, manpower, etc. The production line has become smooth without many surprises as demand and supply are met by ERP and IOT as this decision information is passed to different touch points that would perform the same thing. Define a default pattern and the rest is done automatically. Hardware and its preventive maintenance are controlled and the maintenance of the AI, its data center problems and maintenance are affected.
AI and ML are changing the way we buy items, make sales, buy rent or sell houses, etc. Even dating apps are helping many to find and find the right partners. AI and ML control Amazon’s book recommendations, Google’s suggesting correct information or ad serving, etc. The job market is shrinking. Many banal tasks are replaced by technical aids.
AI and ML have improved the lives of online shoppers with right messages, supporting information about additional items, etc. Now ML automatically learns user patterns and suggests what to buy. These tools have helped many online e-commerce businesses target products to the right customer group, learn more about their buying habits, when and where to shop, etc.
Based on your “social” credit history, few companies will help you get credit or ensure you get housing etc. (Ant Financials).
AI tools have also disrupted the agricultural sector. The activities that are too data sensitive, difficult to sit and analyze have now been simplified. Now we can measure and monitor crop yields, productivity, soil fertility and lack of nutrients etc. Many agritech companies rely on AI and ML to feed the data back to the algorithm and see what happens.
How our privacy is disturbed to make it easy?
We used to hail taxis at the curb or call taxi companies to book a cab. Now we use apps and no more shouting at the side of the road. UBER, Ola, GoJek have changed the need to own a car and pay for maintenance. The money saving is huge when you factor in the savings on car maintenance costs, insurance and parking fees etc. This reduced road traffic and congestion during rush hours, saving millions of dollars in fuel.
Google publishes the driverless car economy. AI’s supervised learning helps verify car movement; its surroundings, nearby cars or other vehicles, etc. This helps protect the passengers and other surrounding objects. UBER is already talking about buying these cars for their fleets and also developing their own driverless cars.
AirBnB and Oyo have increased the quality of hotel experiences while prices have been pushed down. OYO has redefined the hotel end-user experience by raising the standard of rooms and services. It is ensured that the guest receives the same treatment in several hotels. Nowadays, customers do NOT check the hotel name and its credibility etc. The customer checks whether the hotel is OYO qualified or not. This ensures the quality and minimum standard of services.
Lots of big corporations that don’t own anything but control most of our lives
1. Uber, Ola – car service company that has integrated the distributed taxis
2. AirBnB and Oyo – helped integrate smaller hotels and improved customer experience.
3. Google – search engine and ads
4. Amazon Web Services, Microsoft Azure, Google Cloud – Provides the infrastructure to manage and run the applications at a fraction of the original cost of purchasing a server.
So what’s happening here?
Many IT jobs are already suffering from this. Development tools reduce the number of developers required, Selenium-like tools replace manual testing. We have developed the tools that reduce web application testing time by 80%.
But the side effect of this is that many have lost jobs and income opportunities.
How does machine learning work?
If you see the above deal, they don’t own real estate but they control the activities as they use AI and ML that feeds the information back to the application. One of the ways ML works is that it takes a huge amount of transactional data to analyze and discover the patterns and learn from them.
For the machine learning algorithm to work, it needs a huge amount of data and feedback so that it can create its own patterns, test them, learn them, and deploy new ones. Many healthcare startups use AI and ML to scan the digitized reports and feed the data to the AI to rebuild the models to be analyzed.
artificial intelligence
