Our lives are changing as a result of artificial intelligence and machine learning

I was talking with one of my customers last month. I learned during the discussion that SaaS and cloud-based applications have altered the business landscape and benefited business owners. By eliminating the need for hardware and ongoing maintenance, IT personnel, and other expenses after implementing a cloud ERP solution, my customer was able to save about USD 2000 per month.

Just wondering how business owners’ lives and the industry might be affected by artificial intelligence (AI) and machine learning (ML)? Today, we encounter them at every stage of our lives but are unable to distinguish them from one another. They are a component of our lives.

How are artificial intelligence and machine learning changing the market?

In the manufacturing sector, AI and IOT tools are advising CNC machines on what to produce, when to produce it, and how much to produce. This has enhanced the effectiveness and utilization of tools, labor, etc. As Demand and Supply are met by ERP and IOT and decision-making information is passed to various touch points that would carry out the same, the production line has become streamlined and free of many surprises. Create a set of standard patterns, and the rest will be completed automatically. AI’s Data Center issues and maintenance are impacted by the control and preventive maintenance of hardware.

The way we make purchases, conduct sales, rent or sell homes, etc. is changing as a result of AI and ML. Many people are using dating apps to find compatible partners. Amazon’s book recommendations, Google’s suggestions for accurate information or the push of advertisements, and other services are all under the control of AI and ML. The job market is getting smaller. The use of technical tools has largely replaced menial labor.

With the proper messages, supporting information on the additional items, and other features, AI and ML have made online shoppers’ lives easier. Now, machine learning (ML) learns user patterns automatically and makes recommendations for purchases. With the aid of these tools, numerous online retailers have been able to target the right customers with their products and learn more about their buying patterns, availability for purchases, and other factors.

Based on your “social” credit history few companies helps to get you Loans or ensure that you get housing etc (Ant Financials)

The agricultural industry has also been disrupted by AI. The processes that require too much data and are challenging to sit down and analyze have been made simpler. Crop yields, productivity, soil fertility, and other factors can now be measured and observed. Many Agritech companies rely on ML and AI to feed data back to algorithms and see what happens.

How is our private life complicated in order to make it simple?

Before, we would either call taxi companies to make reservations or hail a cab from the side of the road. We no longer hail cars from the side of the road because we use apps. The necessity of owning a car and funding its maintenance has been replaced by UBER, Ola, and GoJek. When you factor in savings on car maintenance costs, insurance, and parking fees, etc., you can save a ton of money. This prevented the road from becoming clogged with traffic during rush hour, saving millions of dollars in fuel.

The driverless car economy is being made available by Google. Supervised learning in AI aids in monitoring the movement of the car as well as its surroundings, any nearby vehicles, and other moving objects. The passengers as well as nearby homes and other properties are being protected by this. UBER has already expressed interest in purchasing these vehicles for its fleet and in creating its own driverless vehicles.

While prices are being driven down, AirBnB and Oyo have raised the caliber of hotel experiences. By improving the quality of the accommodations and services, OYO redefined the end-user experience at the hotel. The same level of service is guaranteed for guests at all participating hotels. Customers no longer verify a hotel’s name or credibility, etc. The customer is determining whether or not the hotel is approved by OYO. The quality and minimum standard of services are guaranteed as a result.

Many large companies that don’t own any thing, but they are controlling the majority of our life

1. Uber, Ola – Car services company, that integrated the distributed taxies

2. The integration of smaller hotels was aided by AirBnB and Oyo, which also improved customer experiences.

3. Google – Search engine and Ads

4. At a fraction of the price of initially purchasing a server, Amazon Web Services, Microsoft Azure, and Google Cloud provide the infrastructure to manage and run the applications.

What is going on then?

Numerous IT jobs are already in trouble. The need for developers is declining as a result of the use of Selenium-like tools to replace manual testing. We have created tools that cut the time spent testing web applications for bugs by 80%.

However, as a result of this, many people have lost their jobs and income-generating opportunities.

How does machine learning function?

If you look at the aforementioned company, it doesn’t own any properties, but it has control over the activities because it uses AI and ML to provide information to the application. One of the ways that machine learning functions is by analyzing a large volume of transaction data in order to find patterns and learn from them.

A significant amount of data and feedback are necessary for the machine learning algorithm to create, test, learn, and deploy new patterns. Many healthcare start-ups are scanning digitized reports with AI and ML, feeding the information to the AI, which then creates new models to analyze.

Leave a Reply

Your email address will not be published. Required fields are marked *