When to Choose AI/ML
Explore the distinctions between artificial intelligence and machine learning and identify when to choose these technologies. Understand their benefits like automation, faster decision-making, personalization, and unstructured data processing. Learn to assess factors such as data availability, cost, complexity, and real-time requirements to determine the best AI or ML application for your business needs.
Artificial intelligence and machine learning are often used interchangeably. Although they are both related, some differences exist, such as scope, applications, etc.
Artificial intelligence is the broad field that aims to build machines and computers that have cognitive abilities and can reason and analyze like human beings. In simple terms, it is machines that can mimic humans. Machine learning is a niche in artificial intelligence that enables machines to learn from experiences and improve. It consists of algorithms that train on past experiences.
Let’s start by understanding the benefits of artificial intelligence and machine learning.
Why use AI and machine learning?
Artificial intelligence, if not used appropriately, can complicate tasks. Therefore, it is important to understand what types of businesses, industries, or companies can benefit from artificial intelligence and when to choose artificial intelligence and machine learning to simplify a task.
Automates tasks
Machine learning models can be trained to perform tasks in less time that would otherwise require a lot of staff. For example, customer support and service traditionally required large teams to handle customer queries. However, AI-powered chatbots and virtual assistants can handle common customer inquiries, provide information, and even resolve issues in real-time. This reduces the need for large customer support teams and allows staff to focus on more complex inquiries.
Faster decision-making and predictions
Machine learning models and methodologies can recognize patterns in data that humans can miss. Therefore, they can analyze a significant amount of data, detect patterns, and provide useful recommendations for making informed decisions.
For example, using AI models to analyze financial data can help optimize resource consumption, providing enhanced ...