Before delving deeper into the analysis of bank data using R, let’s have a quick brush-up of R skills.
As you know, R is a well-structured functional suite of software for data estimation, manipulation and graphical representation.
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Artificial Intelligence projects, applications and platforms are being churned out from every corner of the world. A majority of them now possess the ability to break loose lab life and hit mainstream trends, making an appearance in myriad online tools, open source APIs and mass gadgets.
Though the machines are yet to take over our lives, they are filtrating their way into our lives, influencing day-to-day activities, be it work or entertainment. From personal assistants like Alexa and Siri, to self-driving vehicles powered by predictive modeling and more intense and fundamental machine learning technologies, a wide set of applications of AI are in use of late.
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We perused through a handful number of AI apps so that we can enlist the ones that are more practical and thus really deserving! Let’s leverage piles of data with these effective applications:
As per Creative Strategies report, 70% of iPhone users have used Siri at least for once or sometimes, but everyone has tried it at least. We are here to tell you don’t hire a personal assistant, instead implement Siri.
This voice-powered virtual assistant makes business operations smoother and hassle-free, while making your workday more productive. The software is activated by voice, and it is at present available in 20 languages.
Developed and powered by Amazon for Amazon Echo intelligent speaker, Alexa, a robust voice service was launched in 2014. It can help you in ordering supplies, translating and controlling office’s vacuum.
However, connecting your Echo to IFTTT may allow you to coordinate with services that aren’t supported originally by the Echo, while allowing you to integrate multiple actions into a single command to the Echo.
This is one of the most popular artificial intelligence applications. Google Now functions by keeping a tab on your calendar, mail, web searches and lot more, along with sending relevant alerts and news on your device as and when detected. It can also carry out tasks, and answer queries, based on voice commands.
The best part of this application is that you don’t have to log in to use it. Just set up alerts that will be sent to the device, and that’s all. At present, it is available in English and is considered a tailing rival of Siri.
If you know the exact way to maneuver it, Cortana would be the most effective AI personal assistant. It can perform all sorts of things, right from dictating and sending emails, tracking flights to searching something on the internet or checking weather forecasts. The more time you spent on it, its functionality gets better and better.
Even, the company is so impressed by its services that it has integrated the service into Power BI, its most intuitive BI tool.
Brain Artificial, aka Braina is self-regulating software, which enables easy hands-free operation in your computer to perform basic tasks by listening to voice based commands in English language.
Braina enjoys a certain edger over its run of the mill competitors as it can precisely work with a variety of accents, which is not so common. The pro version is equipped with a bonus of deep learning – it is programmable as well as observes user behavior over time.
Hope, AI applications serves the humanity well!
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Indian IT market is not yet doomed. In fact, if you look at the larger picture, you will find India is expected to face a shortage of 200000 data scientists by 2020. Where traditional IT jobs are going through a rough patch, new age jobs are surfacing up, according to market reports. Big Data, Artificial Intelligence, the Internet of Things, Cloud Computing, and Cybersecurity are new digital domains that are replacing the old school jobs, like data entry and server maintenance, which are expected to reduce more over the next five years.
The next decade is going to witness most vacancies in these job posts:
However, just because there is a wide array of openings for a web services consultant doesn’t make it the most lucrative job position. Big Data architect job openings are much less in number, but offer handsome pays, according to reports.
A median salary of a web services consultant is Rs 9.27 lakh ($14,461) annually
A median salary of a big data architect is Rs 20.67 lakh ($32,234) annually
Now, tell me, which is better?
As technologies evolve so drastically, it becomes an absolute imperative for the techies to update their skills through short learning programs and crash courses. Data analyst courses will help them to sync in with the latest technological developments, which happens every day, something or the other. Moreover, it’s like a constant process, where they have to learn something every year to succeed in this rat race of technological superiority. Every employee needs to make some time, as well as the companies. The companies also need to facilitate these newer technologies in their systems to keep moving ahead of their tailing rivals.
Re-skill or perish – is the new slogan going around. The urgency to re-skill is creating a spur among employees with mid-level experience. If you check the surveys, you will find around 57% of the 7000 IT professionals looking forward to enroll for a short time learning course have at least 4 to 10 years of work experience. Meanwhile, a mere 11% of those who are under 4 years of experience are looking out for such online courses. It happens because, primary-stage employees are mostly fresh graduates, who receives in-house training from their respective companies, hence they don’t feel the urge to scrounge through myriad learning resources, unlike their experienced counterparts.
Today, all big companies across sectors are focusing their attention on data science and analytics, triggering major reinventions in the job profile of a data analyst. Owing to technology updates, “The role of a data analyst is itself undergoing a sea change, primarily because better technology is available now to aid in decision-making,” said Sumit Mitra, head of group human resources and corporate services at GILAC. To draw a closure, data science is the new kid in the block, and IT professionals are imbibing related skills to shine bright in this domain. Contact DexLab Analytics for data analyst course in Delhi. They offer high-in demand data analyst certification courses at the most affordable prices.
Analysts at Facebook promptly shut down the Artificial Intelligence system over concerns they might lose control over the system. Recently, Facebook had developed a new Artificial Intelligence program, which could create its own language with the help of code words to make communication easier and effective. The researchers took it offline, when they understood the language used is no longer English.
Though this isn’t the first time that AIs went a step ahead to take a different route instead of the oh-so-regular training in English language to develop their own more productive language, the recent Facebook incident made us wary about Elon Musk’s warnings about AI. “AI is the rare case where I think we need to be proactive in regulation instead of reactive,” Musk, co-founder, CEO and Product Architect at Tesla once stated at the meet of US National Governors Association. “Because I think by the time we are reactive in AI regulation, it’ll be too late,” he further added.
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A lot of myths are going around about Artificial Intelligence.
In a recent interview, Alibaba founder Jack Ma said AI can pose a massive threat to jobs around the world, along with triggering World War III. The logic of shared by him explained that in 30 years, humans will be working for only 4 hours a day, and 4 days a week.
Fuelling this, Recode founder Kara Swisher vouched for Ma’s prediction. She supported him by saying Ma is “a hundred percent right,” adding that “any job that’s repetitive, that doesn’t include creativity, is finished because it can be digitized” and “it’s not crazy to imagine a society where there’s very little job availability.”
Besides, I find all these stuffs quite baffling. I think that if AI is going to be the driving force towards innovation and bringing in a new technological revolution, it’s upon US to curate the opportunities that will require new jobs. Apocalyptic predictions just don’t help.
Let’s highlight the myths and the logical equations:
Remember, it’s humans who have created robots. We excel at mechanizing, systematizing and automating. We spurred the automation drive, while infusing intelligence to the machines.
The present objective is to create AIs that can work together with human intelligence to develop new narratives for problems we are yet to solve. To solve these new problems, we need new kinds of jobs – there’s a great scope of opportunity, let’s not believe that AI will kill our jobs.
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From drones to self-organizing shelves in warehouses to machines sent to Mars, all are just machines programmed to function.
Data mining, Data Science, Pattern Recognition – they are just human-created models. They might be intricate or complicated in nature, but not AI. Data and AI are two entirely different and divergent concepts.
Though Machine Learning and Deep Learning are a part of the enormous AI tool kit, they are not AI. They are just mere tools to program computers to tackle complex patterns- like the way your email filters out spam by “understanding” what hundreds and thousands of users have identified as spam. They look uber smart, undeniably, in fact scary at times, when a computer wins against a renowned expert at the game GO, but they are definitely not AI.
Search Engines have made our lives easier, undoubtedly. The way you can search information now was impossible few years back, but being the searcher, you too contribute the intelligence. All the computer does is identify patterns from what you search and suggest it to others. From a macro perspective, it doesn’t actually know what it finds because it’s dumb in the end. We feed them intelligence, otherwise they are nothing.
So, instead of panicking about the uncertainties that AI may bring into our lives, we should take a bow and appreciate the efforts humans gave into creating something so huge, so complex like AI.
And remember, AI has always created jobs in the past and didn’t take them. So, be hopeful!
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Technology is the king. It is slowly intensifying its presence over workplaces, and is one of the chief reasons why companies are laying off employees. Adoption of cutting-edge technologies is believed to be the main reason of job cuts and by now if professional techies are not properly equipped with newer technologies under their sleeves, the future of human workforce seems bleaker.
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A recent report says – India would lose about 69,000 jobs until 2021 due to the adoption of IoT, so do you really think human intelligence is losing its intellect? Will AI finally surpass brain power?
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Recently, Deep Learning has gone up from just being a niche field to mainstream. Over time, its popularity has skyrocketed; it has established its position in conquering Go, learning autonomous driving, diagnosing skin cancer, autism and becoming a master art forger.
Before delving into the nuances of neural networks, it is important to learn the story of its evolution, how it came into limelight and got re-branded as Deep Learning.
Here, in this paper, McCulloch (neuroscientist) and Pitts (logician) tried to infer the mechanisms of the brain, producing extremely complicated patterns using numerous interconnected basic brain cells (neurons). Accordingly, they developed a computer-programmed neural model, known as McCulloch and Pitt’s model of a neuron (MCP), based on mathematics and algorithms called threshold logic.
Being a graduate student at Harvard University Psychological Laboratories, Minsky executed the SNARC (Stochastic Neural Analog Reinforcement Calculator). It is possibly the first artificial self-learning machine (artificial neural network), and probably the first in the field of Artificial Intelligence.
In this research paper, the highlight has been the elucidation of the boundaries of a Perceptron. It is believed to have helped usher into the AI Winters – a time period of hype for AI, in which funds and publications got frozen.
Fukushima conceptualized a whole new, much improved neural network model, known as ‘Neocognitron’. This name is derived from ‘Cognitron’, which is a self-organizing multi layered neural network model proposed by [Fukushima 1975].
David B. Parker reinvented Backpropagation, by giving it a new name ‘Learning Logic’. He even reported it in his technical report as well as filed an invention report.
You can derive back-propagation through numerous ways; the simplest way is explained in Rumelhart et al. 1986. On the other hand, in Yann Le Cun 1986, you will find an alternative deviation, which mainly uses local criteria to be minimized locally.
In this paper, you will find how a system ascertains hand-printed digits, through a combination of neural-net methods and traditional techniques. The recognition of handwritten digits is of crucial notability and of immense theoretical interest. Though the job was comparatively complicated, the results obtained are on the positive side.
A very important real-world application of backpropagation (handwritten digit recognition) has been addressed in this report. Significantly, it took into account the practical need for a chief modification of neural nets to enhance modern deep learning.
Besides Deep Learning, there are other kinds of architectures, like Deep Belief Networks, Recurrent Neural Networks and Generative Adversarial Networks etc., which can be discussed later.
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Artificial Intelligence was there decades ago, but everyone is talking about AI and Big Data in India’s startup ecosystem of late.
Budding startups are looking for new talent with AI expertise to inspect and evaluate consumer data and provide customized services to the users. At the same time, tech honchos such as Apple have discovered the huge potentials hidden within Indian companies that help their clients with data processing, image and voice recognition, and no wonders, investors are too hopeful for Indian AI startups.
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Here are a slew of Indian unicorns – companies valued at $1 billion or more that are putting in use the exploding technology of AI in the best way possible:
An eye-piercing transformation from being an e-wallet to selling flight or movie tickets, Paytm is now implementing machine learning to bring order into chaos. The company’s chief technology offer, Charumitra Pujari, said, “You could Google and try to look for something. But a better world would be when Google could on its own figure out Charu is looking for ‘x’ at this time. That’s exactly what we’re doing at Paytm,” he further added, “If you’ve come to buy a flight ticket, because I understand your purchase cycle, I show that instead of a movie ticket or transactions.”
In order to identify and prevent fraudulent activities, machines are constantly assessing illicit accounts that purposefully sign up to derive advantage of promo codes, or for money laundering intention. The fraud-detection engine is extremely efficient, leaving no room for human error, Pujari stated.
The team at Paytm is versatile – machine learning engineers, software engineers, and data scientists are in action in Toronto, Canada, as well as in Paytm’s headquarters in Noida, India. Currently, they have 60 people working for them in each location – “We know the future is AI and we will need a lot more people,” said Pujari.
One of the most successful ride-hailing apps in India, Ola uses machine learning tech to track traffic, crack through driver habits, improve customer experience and enhance the life of each vehicle they acquired. AI plays a consequential role in interpreting day-in-day-out variations in demand and to decipher how much supply is required to cater to its increased demand, how variable are traffic predictions and how rainfall affects the productiveness of vehicles.
“AI is understanding what is the behavioral profile of a driver partner and, hence, in which way can we train him to be a better driver partner on (the) platform,” co-founder and chief technology officer Ankit Bhati said, the algorithms put into the car-pooling service works great in pulling down travel times by coordinating with various pick-up points and destinations, while sharing one single vehicle, he further added.
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According to a report in Forbes, Flipkart – India’s largest domestic e-commerce player has already re-designed its app’s home screen to give a more personalized version of services to its mushrooming 120 million patrons. Machine learning models crack each customer’s gender, brand preference, store affinity, price range, volume of purchases and more. In fact, in future, the company is going forward to figure out the reasons about when and why the returns are made, and as a result will try to reduce their happenings.
A squad of 25 data scientists at Flipkart have started using AI to observe the past buyer behavior to predict their future purchases. “If a customer keys in a query for running shoes, we show only the category landing pages of the particular brand the customer wants to see, in the price point and styles that (are) preferred, as gauged by previous buying behaviour, therefore ensuring a faster, smoother checkout process,” Ram Papatla, the vice president of product management at Flipkart, said recently at an interview with a leading daily.
ShopClues, InMobi, SigTuple and EdGE Network are myriad other Indian startup players who are making it really big by utilizing the powerful tentacles of AI and machine learning.
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Self Service Analytics is proving useful for business users, who are working on business data without necessarily having a background in technology and statistics. It is essentially bridging the gap between trained data analysts and normal business users.
Self Service Analytics reduces dependency on IT and Data warehousing teams, thereby reducing the turnaround time for a request made by a business user.
It does so by continuously collating and loading real time data into a singular stream without disparity, which is easily accessible through browsers. Thus, it helps business users in taking decisions on Real-Time basis.
This feature benefits organizations because vital decisions made within time can be more profitable as compared to the traditional way of analysing data, which may not be a good idea in respect to the urgency constraint.
Often, the company’s data are fragmented and widespread across various divisions. This increases the headache of channelling the data meaningfully and in a wholesome manner.
Further to this, preparing reports using this data becomes a cumbersome job for the IT department or the department, which is serving such request. Hence, it may lead to increased cost of time or decreased quality of efficiency at which the operations have to run. However, many a times, these reports fail to give an overview of the operations in an organisation.
Self-service BI integrates data from different systems and delivers a “Single Version of Truth”. Accessing this data and running computations on it requires only a browser for access and eliminates the need to install, maintain and administer large-footprint software clients on each user’s workstation.
If Self Service Analytics is hosted on SaaS, it will further reduce the cost of machinery and maintenance associated with it. The provision for usage can be increased or decreased in no time according to the usage pattern. This really means that Self Service Analytics helps you adapt with time and Pay-Per-Use model, which is a leading trend in most of the industries.
Typically, a business user using Excel would have a local copy of data and run computations on it. He can merge and transform it by using various formulas and finally derive a conclusion.
This is dangerous because in live operations, data keeps changing and data integrity is at stake by working on local copies. Thus, accuracy in decision-making becomes a game of luck.
In Self Service BI, the data from the source is extracted, transformed and loaded into a unique data model, which goes with all operations. In this case, data integrity is assured. In addition, all business users have the same source of data, removing the risk that working with different local copies have.
Therefore, from the above stated facts, we can conclude that Self Service Analytics is a need for today’s businesses.
If all the above-mentioned risks are mitigated and proper corporate governance structure is in place, Self Service Analytics can be very beneficial for the success of any organization.
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