Category: artificial intelligence training institute

AI is transforming our world in more ways than one with the advent of self-checkout cash registers to security checks at airports. However, in this essay, we look at how AI is transforming the world of e-Commerce.

Already, tech giants are investing heavily in AI and machine learning systems to power their startups and new sources of business. A report, infact, shows that “a recent study by Business Insider suggests that as much as 85% of customer interactions will be managed without a human by as soon as 2020.”

Here is a short list of ways in which businesses are using AI to better understand their customers, generate new leads and provide an enhanced customer experience.

Customer-centric search

Companies like Twiggle are using NLP to “narrow, contextualise and ultimately improve search results for online shoppers.” This is being done to prevent customers from abandoning searches due to a high volume of irrelevant search results showing up on screens.

Also, with enhanced visual capabilities of AI powered software, “AI is enabling shoppers to discover complementary products (by) size, colour, shape, fabric or even brand”.

Retargeting customers

Many “businesses are overloaded with unmanageable customer data that they do little or nothing with. This is an incredible goldmine of intelligence that could be used to enhance the sales cycle.”

As AI develops, it can detect customer dwell time on e-Commerce platforms and strategize marketing offers for customers. “In other words, omni-channel retailers are starting to make progress in their ability to remarket to customers.”

More efficient sales process

Customers are spending more and more time on television and social media. So, if you “want to tailor your problem-solving solutions and create a strong sales message that reaches consumers at the right time on the right platform, then integrating AI into your CRM is the way to go.”

Many AI systems enable NLP and voice input systems like Siri or Alexa that allow them to answer customer queries, solve problems and also identify new arenas of opportunities for the sales team.

Personalization across multiple devices

Personalization is the crux of e-Commerce, like you must have experienced on platforms like Amazon. However, with each passing day, AI systems are becoming more sophisticated with deeper levels of personalization penetrating the ecommerce world.

“Whether it is a mobile application, the website, or an email campaign, the AI engine is continuously monitoring all devices and channels to create a universal customer view. This unified customer view enables e-Commerce retailers to deliver a seamless customer experience across all platforms.”

Chatbots

Moving from mass-market sales to individualized marketing, many e-Commerce retailers are becoming more sophisticated with their AI capabilities “in capturing attention, and one approach widely developing is known as ‘conversational commerce’.”

“In the e-Commerce world, this is the confluence of visual, vocal, written and predictive capabilities. ”Chatbots are one such simulation system that goes a long way in building customer service relations. To read more about chatbots, do go through our previous blog on the subject.

DexLab Analytics, a premiere artificial intelligence training institute in Gurgaon, trains professionals in the latest technological advancements available.

Classroom or Online Certification Courses to get you started

To learn more about Data Analyst with Advanced excel course – Enrol NowTo learn more about Big Data Course – Enrol Now
To learn more about Machine Learning Using Python and Spark – Enrol NowTo learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now 

The Amphan super cyclone last week ravaged West Bengal in India and parts of Bangladesh, killing scores of people, damaging houses, uprooting trees and electricity poles and flooding large swathes of land. The category 2 storm, with wind speeds over 150 km per hour was predicted several days earlier and this helped the concerned governments evacuate thousands of people before it struck.

Thus, we can hardly emphasise the importance of weather forecasting and prediction in today’s world, especially when climate change is at it severest. By some estimates, for instance, in 2016 there were nearly 800 weather related disaster events, thrice the number recoded in 1980. And even if all countries adhere to the Paris climate pledges, by 2100, it is likely that average global temperatures will be higher than pre industrial times by 3 degrees.

Artificial Intelligence

It is therefore imperative for us to study how Artificial Intelligence and its many branches like machine learning, deep learning and neural networks are helping predict weather events. For instance, researchers at Rice University have developed a deep learning model that can predict heat waves and winter storms, i.e. extreme weather conditions. The model was trained by studying hundreds of maps that showed surface temperatures and air pressures. After training, the model was used to read maps it had never seen before and it predicted weather conditions with upto 85 percent accuracy.

Machine Learning

Similarly, Microsoft is investing huge sums of money in ‘AI for Earth’, its flagship project committed to developing machine learning models to predict weather conditions. It has given grants to Columbia University professors to study the pattern of tree distribution in storm affected areas of America by processing thousands of images. In turn, the prediction model studies how much Carbon Dioxide decomposed vegetation is emitting into the atmosphere resulting in global warming.

Deep Neural Networks

Deep neural networks (DNNs) are gradually replacing physics based models of weather forecasting that have been in use for decades now. DNNs are being used to supplant parameterization of physical schemes in the traditional weather forecasting model in the US. DNNs help save on computational complexity in the forecasting process and help in scalability without compromising the model’s prediction accuracy. Humidity, wind velocity, temperatures and much more can be studied and predicted using DNNs.

In India

Last year the Ministry of Earth Sciences organised an event wherein officials said artificial intelligence will be used to predict extreme weather conditions in India. In an article, it was reported that a top ministry official said, “Society needs information about extreme weather events at least 7 days in advance which we are yet to achieve. We are working to provide impact based forecast to society that will tell people about how it will impact their lives. To achieve this, we are going to use artificial intelligence and machine learning to help in improving our understanding of weather and climate phenomena and their forecasting.”

Thus, it is no surprise that more and more institutes in India are gearing themselves for the AI revolution in the country. DexLab Analytics is one such artificial intelligence training institute in Gurgaon to look out for.

Classroom or Online Certification Courses to get you started

To learn more about Data Analyst with Advanced excel course – Enrol NowTo learn more about Big Data Course – Enrol Now
To learn more about Machine Learning Using Python and Spark – Enrol NowTo learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now 

If you Google searched for “artificial intelligence” and somehow came across this article, you just made use of artificial intelligence. Or, if you hailed a cab through an app like Uber or Ola, you just made use of artificial intelligence. The science of AI is all around us, in the smallest aspects of our lives. We take a look at how AI impacts our everyday lives in amazing ways.

Google Maps and Ride-Hailing Applications

Till only recently GPS (Satellite-based navigation) was guiding us through. But now artificial intelligence has come in to revolutionize the game, enabling systems like Google Maps to know exact directions, the optimal route and even road barriers and traffic congestion. Cab hailing apps have also made use of this technology.

Face Detection and Recognition

Making use of virtual filters when taking pictures and using face ID to unlock phones are two of the applications of AI in everyday lives. The former uses face detection and the latter uses face recognition. Smart machines are taught to identify facial coordinates in pictures of faces to enable face detection and recognition features.

Text Editors or Autocorrect

When we type out something onto a word document, inbuilt auto-correct tools begin perusing our script for spelling mistakes or grammatical anomalies.

Artificially intelligent algorithms also use machine learning, deep learning, and natural language processing to identify incorrect usage of language and suggest corrections.

Search and Recommendation Algorithms

Smart recommendations systems, that power our music applications and ecommerce websites, learn user behavior and interests from online activities.

“The personalized experience is made possible by continuous training. The data is collected at the frontend (from the user), stored as big data and analyzed through machine learning and deep learning. It is then able to predict your preferences by recommendations that keep you entertained without having to search any further,” a report says.

Chatbots

Answering questions can be time consuming, especially if they are coming from a customer. Chatbots are taught to impersonate the conversational styles of human beings through NLP (Natural Language Processing) so they can answer customer queries and take and track orders. They will give the impression of a customer representative when, in fact, they are just another example of artificial intelligence.

Digital Assistants

The latest digital assistants are well acquainted with human language and incorporate advanced NLP and ML. “They understand complex command inputs and give satisfactory outputs. They have adaptive capabilities that can analyze your preferences, schedules, and habits. This allows them to systemize, organize and plan things for you in the form of reminders, prompts and schedules.”

Social Media

Various social media applications are using the support of AI to control problems like cyber crime, cyber bullying, and hate speech. “AI algorithms can spot and swiftly take down posts containing hate speech a lot faster than humans could. This is made possible through their ability to identify hate keywords, phrases, and symbols in different languages. These have been fed into the system, which has the additional capability to add neologisms to its dictionary. The neural network architecture of deep learning is an important component of this process.”

So, you see how AI had come to influence more aspects of our lives than we could have imagined. This essay was brought to you by DexLab Analytics. DexLab Analytics is a premiere artificial intelligence training institute in Gurgaon.

Classroom or Online Certification Courses to get you started

To learn more about Data Analyst with Advanced excel course – Enrol NowTo learn more about Big Data Course – Enrol Now
To learn more about Machine Learning Using Python and Spark – Enrol NowTo learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now 

Artificial Intelligence has revolutionized the banking sector, transforming back end processes into faster mechanisms, making money transfers safer and back-end operations more efficient.

From fraud detection to customer service chatbots, AI is powering several banking wings. Here is a list of operations AI has been facilitating in banks across the world.

Customer Support & Front Office

Millennials have rendered brick and mortar banks dispensable. According to Business Insider, 40 per cent of this generation does not use the services extended in physical bank offices.

AI has come to the rescue, however, by powering chatbots and voice assistants in most major financial institutions. Kasisto, for example, is one such neo-banking institution that has been using AI to the hilt.

“Kasisto’s major contribution is its conversational AI platform, KAI, which banks can use to build their own chatbots and virtual assistants. It’s rooted in AI reasoning and natural-language understanding and generation, which means it can handle sophisticated questions about finance management that other bank customer-service digital assistants…can’t”, says a report.

Kasisto has supported and shored up AI assistants for several reputed banking institutions including the UAE-based digital bank Liv., DBS Bank, Standard Chartered Bank and TD.

“The bank’s KAI-based bot walks customers through how to make international transfers, block credit card charges and transfer you to human help when the bot hits a wall.”

Fraud Protection & Middle Office

Artificial Intelligence has truly transformed “middle office functions” – where banks manage risk and protect themselves from bad actors. These functions include fraud detection, anti-money laundering initiatives and customer identity verification.

“And sometimes that means incorporating AI into legacy, rules-based anti-fraud platforms. But some the most innovative and secure countermeasures are other, from-the-ground-up models, built by companies like the ones below.”

“Up to $2 trillion is laundered every year — or five percent of the global GDP, according to UN estimates.” The sheer number of investigations across the globe, coupled with the complexity of data and reliance on human involvement makes anti-money laundering (AML) difficult work.

AML processes also cost a lot. Ayasdi’s AI-powered AML incorporates three key advancements: “intelligent segmentation, or optimizing the data-sifting process to produce the fewest number of false positives; an advanced alert system, which auto-categorizes alert priorities; and advanced transaction monitoring, which uses machine learning to spot suspicious anomalies”.

Lending And Risk Management

“AI holds real promise for more equitable credit underwriting — as long as practitioners remain diligent about fine-tuning the algorithms. 

Beyond credit scoring and lending, AI has also influenced the way banks assess and manage risk and how they build and interpret contracts.”

Denying credit to persons because of a class or racial bias is something that ails the banking industry across the world. ZestFinance’s“AI-based software purportedly generates fairer models, essentially by downgrading credit data that it has “learned” results in unfair decisions”.

For more on this, do peruse the DexLab Analytics website. DexLab Analytics is the premiere most artificial intelligence training institute in Gurgaon.

Classroom or Online Certification Courses to get you started

To learn more about Data Analyst with Advanced excel course – Enrol NowTo learn more about Big Data Course – Enrol Now
To learn more about Machine Learning Using Python and Spark – Enrol NowTo learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now 

While the spread of the COVID-19 pandemic has become a bane for economies across the world, slowing down or bringing to a halt markets and trade, the series of lockdowns declared by states has had a positive impact on the environment.

According to China’s Ministry of Ecology and Environment, data recorded between January and March 2020 reflects an 84.5 per cent increase in days with good air quality in 337 cities, and satellite data from the United States National Aeronautics and Space Administration shows a decline in nitrogen dioxide over China.

This piece of news is certainly welcome. Climate change is one of the biggest crises ailing our world today, with scientists and stakeholders worried. However, technological advancements like those in the field of Artificial Intelligence are to a large extant helping tackle the crisis of climate change. Here is how.

Improved climate predictions

At the intersection of data science and climate science is the piece of technology called climate informatics.

It includes areas like“improving prediction of extreme events such as hurricanes, paleoclimatology, like reconstructing past climate conditions using data collected from things like ice cores, climate downscaling, or using large-scale models to predict weather on a hyper-local level, and the socio-economic impacts of weather and climate.”

AI can also uncover new insights from the massive amounts of complex climate simulations generated “by the field of climate modeling, which has come a long way since the first system was created at Princeton in the 1960s.”

Better predictions can help officials make informed climate policy, allow governments to prepare for change, and potentially uncover areas that could reverse some effects of climate change.

Revealing the effects of extreme weather

AI is helping scientists reveal to common persons the effects of extreme weather conditions so they can work towards reversing the effects.

“To make it (the effects) more realistic for more people, researchers from Montreal Institute for Learning Algorithms (MILA), Microsoft, and ConscientAI Labs used GANs, a type of AI, to simulate what homes are likely to look like after being damaged by rising sea levels and more intense storms.”

This was done to inculcate in people habits that are eco-friendly and ecologically sustainable.

Measuring sources of carbon

By monitoring coal plant emissions with satellite imagery, Carbon Tracker, an independent financial think-tank, can use the data it gathers to convince the finance industry that carbon plants aren’t profitable.

“A grant from Google is expanding the nonprofit’s satellite imagery efforts to include gas-powered plants’ emissions and get a better sense of where air pollution is coming from.”

AI can help make analysis of power plants images automated to get regular updates on emissions. “It also introduces new ways to measure a plant’s impact, by crunching numbers of nearby infrastructure and electricity use. That’s handy for gas-powered plants that don’t have the easy-to-measure plumes that coal-powered plants have.”

For more on AI and its algorithms or related sciences, do peruse the DexLab Analytics website today. DexLab Analytics is a premiere artificial intelligence training institute in Gurgaon, India.

Classroom or Online Certification Courses to get you started

To learn more about Data Analyst with Advanced excel course – Enrol NowTo learn more about Big Data Course – Enrol Now
To learn more about Machine Learning Using Python and Spark – Enrol NowTo learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now 

Artificial Intelligence has made advancements in various sectors of the economy. But it has not yet taken the business world by storm. Business leaders, however, are excited about implementing AI in their companies’ business functions to start reaping its benefits. Here is a list of ways in which AI and machine learning will impact business functions across the globe.

Marketing

AI can assist in working out business strategies as well as implementing them. “Already AI sorts customers according to interest or demography, can target ads to them based on browsing history, powers recommendation engines, and is a critical tool to give customers what they want exactly when they want it,” says a report. Also, AI is being used as a marketing tool in the form of chatbots. These chatbotshelp solve problems, suggest products or services, and support sales. Artificial intelligence also helps marketers build and make adjustments to marketing campaigns according to consumer behavior analyzed accurately by AI systems.

Sales

AI improves sales functions by improving forecasting, predicting customer needs, and improving communication.

Research and Development

AI can help analyze a large amount of information in industries like healthcare, pharmaceuticals, finance, and more. It can help us research problems and find solutions to them efficiently and accurately. “AI can automate many tasks, but it will also open the door to novel discoveries, ways of improving products and services as well as accomplishing tasks. Artificial intelligence helps R&D activities be more strategic and effective.”

IT Operations

Also known as AIOps, AI for IT operations is the application of AI and machine learning to IT operations in an organization. “AI is commonly used for IT system log file error analysis, with IT systems management functions as well as to automate many routine processes.”AI helps alert the IT team so they can fix problems before the IT systems crash. AIOps helps the IT component of businesses improve system performance and services.

Human Resources

AI can help human resource acquisition by effectively scouting for talented workers and prospective hires. “AI can help human resources departments with data-based decision-making and make candidate screening and the recruitment process easier. Chatbots can also be used to answer many common questions about company policies and benefits.”

Contact Centers and Customer Experience

The contact centers of an organization serve as important points of data collection “that can be used to learn more about customers, predict customer intent, and improve the “next best action” for the customer for better customer engagement.” The unstructured data collected from contact centers can also be studies and analyzed by machine learning systems to uncover customer trends and then improve products and services. Also, AI helps improve customer experience by offering loyalty points to customers and recommending what they can shop for according to their preferences.

Manufacturing

Companies like Heineken use data analytics at every stage of the manufacturing process from the supply chain to tracking inventory on store shelves. “Predictive intelligence can not only anticipate demand and ramp production up or down, but sensors on equipment can predict maintenance needs. AI helps flag areas of concern in the manufacturing process before costly issues erupt.”

Accounting and Finance

Human finance professionals will be freed of repetitive tasks so they can focus on more serious activities while the use of AI in accounting will reduce errors. “AI is also able to provide real-time status of financial matters to organizations because it can monitor communication through natural language processing.”

To know more, do peruse the DexLab Analytics website. DexLab Analytics is a premiere artificial intelligence training institute in Gurgaon.

Classroom or Online Certification Courses to get you started

To learn more about Data Analyst with Advanced excel course – Enrol NowTo learn more about Big Data Course – Enrol Now
To learn more about Machine Learning Using Python and Spark – Enrol NowTo learn more about Data Analyst with SAS Course – Enrol Now.
To learn more about Data Analyst with Apache Spark Course – Enrol Now
To learn more about Data Analyst with Market Risk Analytics and Modelling Course – Enrol Now