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Decoding the Equation of AI, Machine Learning and Python

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Decoding the Equation of AI, Machine Learning and Python

AI is an absolute delight. Not only is it considered one of the most advanced fields in the present computer science realm but also AI is a profit-spinning tool leveraged across diverse industry verticals.

In the past few years, Python also seems to be garnering enough fame and popularity. Ideal for web application development, process automation, web scripting, this wonder tool is a very potent programming language in the world. But, what makes it so special?

Owing to ease of scalability, learning and adaptability of Python, this advanced interpreted programming language is the fastest growing global language. Plus, its ever-evolving libraries aid it in becoming a popular choice for projects, like mobile app, data science, web app, IoT, AI and many others.

Python, Machine Learning, AI: Their Equation

Be it startups, MNCs or government organizations, Python seem to be winning every sector. It provides a wide array of benefits without limiting itself to just one activity – its popularity lies in its ability to combine some of the most complex processes, including machine learning, artificial intelligence, data science and natural language processing.

Deep learning can be explained as a subset of a wider arena of machine learning. From the name itself you can fathom that deep learning is an advanced version of machine learning where intelligence is being harnessed by a machine generating an optimal or sub-optimal solution.

Combining Python and AI

Lesser Coding

AI is mostly about algorithms, while Python is perfect for developers who are into testing. In fact, it supports writing and execution of codes. Hence, when you fuse Python and AI, you drastically reduce the amount of coding, which is great in all respects.

Encompassing Libraries

Python is full of libraries, subject to the on-going project. For an instance, you can use Numpy if you are into scientific computation – for advanced computing, you have put your bet on SciPy – whereas, for machine learning, PyBrain is the best answer.

A Host of Resources

Entirely open source powered by a versatile community, Python provides incredible support to developers who want to learn fast and work faster. The huge community of web developers are active worldwide and willing to offer help at any stage of the development cycle.

Better Flexibility

Python is versatile. It can be used for a variety of purposes, right from OOPs approach to scripting. Also, it performs as a quintessential back-end and successfully links different data structures with one another.

Perfect for Today’s Millennial

Thanks to its flexibility and versatility, Python is widely popular amongst the millennials. You might be surprised to hear that it is fairly easier to find out Python developers than finding out Prolog or LISP programmers, especially in some countries. Encompassing libraries and great community support helps Python become the hottest programming language of the 21st century.

Data Science Machine Learning Certification

Some of the most popular Python libraries for AI are:

  • AIMA
  • pyDatalog
  • SimpleAI
  • EasyAI

Want to ace problem-solving skills and accomplish project goals, Machine Learning Using Python is a sure bet. With DexLab Analytics, a recognized Python Training Center in Gurgaon, you can easily learn the fundamentals and advance sections of Python programming language and score goals of success.

 

The blog has been sourced from ― www.information-age.com/ai-machine-learning-python-123477066

 


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How Machine Learning and AI is Influencing Logistics, Supply Chain & Transportation Management

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How Machine Learning and AI is Influencing Logistics, Supply Chain & Transportation Management

More than 65% of top transportation professionals agree that logistics and supply chain management is in the midst of a revolution – a period of incremental transformation. And, the most potent drivers of change are none other than machine learning and artificial intelligence.

Top notch companies are already found leveraging the tools of artificial intelligence and machine learning for fine-tuning its superior strategies, including warehouse location scouting and enhancing real-time decision-making. Though these advanced technologies nurture large chunks of data, the logistic industry has for long been hoarding piles of data. Today, the difference lies in the gargantuan volume of data, as well as the existence of powerful algorithms to inspect, evaluate and trigger the process of understanding and its respective action.

Below, we will understand how AI streamlines logistics and transportation functionalities, influencing profitability and client satisfaction. Day by day, more companies are fusing Artificial Intelligence with Internet of Things to administer logistics, inventory and suppliers, backed by a certain amount of precision and acumen. Let’s delve deeper!

Predictive Maintenance

AI-powered Sensors monitor operational conditions of machines; thus can detect discrepancies even before the scheduled machine servicing based on manufacturer’s recommendation. Then they alert the technicians prior to any potential equipment failure or service disorientation. Thanks to real-time wear and tear!

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Shipping Efficiency

Powerful algorithms are constantly used to tackle last minute developments, including picking the best alternate port in case the main port is non-operational or something like that, planning beforehand if the main carrier cancels a booking and even gauging times-of arrival.

Machine Learning capabilities are also put to use for estimating the influence of extreme weather conditions on shipping schedules. Location specific weather forecasts are integral to calculate potential delays in shipments.

Warehouse Management

Machine learning has the ability to determine inventory and dictate patterns. It ascertains the items which are selling and are to be restocked on a priority basis, and items which need sound remarketing strategy.

Voice recognition is a key tool that uses AI to ensure efficiency and accuracy through successful Warehouse Management System – a robotic voice coming out of a headset says which item to pick and from where, enabling a fast process of warehousing and dispatching of goods.

Once, the worker founds the item, he/she reads out the number labeled on them, which the system then tallies with its own processed data list through speech recognition and then confirms the picked item for the next step.  The more the system is put to use, the more trained it gets. Over time, the system learns the workers’ tone and speech patterns, resulting into better efficiency and faster work process.

Delivery

 A majority of shipping companies are competing with each other to have the most robust and efficient delivery service, because delivery is the final leg of a logistic journey. And it’s vitally important – predictive analytics is used to constantly maneuver driver routes, and plan and re-plan delivery schedules.

DHL invests on semi-autonomous vehicles that drive independently without human intervention carrying deliverables to people across urban communities. Another company, Starship Technologies, founded by the co-founders of Skype employs six-wheeled robots across London packed with hi-tech cameras and GPS. The robots are stuffed with cutting edge technology, but are controlled by humans so that they can take charge as and when required minimizing any negative outcomes.

Overall, artificial intelligence and machine learning has started augmenting human role for efficient logistics and transportation management. With all the recent developments in the technology sphere, it’s only a matter of time until AI becomes a necessary management part of supply chain.

Data Science Machine Learning Certification

And of course all this excites us to the core! If you are excited too, then please check out our brand new Machine Learning Using Python training courses. We combine theoretical knowledge merged with practical expertise to ensure students get nothing but the best!

The blog has been sourced from:

https://www.forbes.com/sites/insights-penske/2018/09/04/how-artificial-intelligence-and-machine-learning-are-revolutionizing-logistics-supply-chain-and-transportation/#eb663dd58f5d
https://aibusiness.com/streamline-supply-chain-ai
 


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LinkedIn Suggests How to Find Machine Learning Experts across Diverse Career Pathways

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LinkedIn Suggests How to Find Machine Learning Experts across Diverse Career Pathways

Machine learning skill is fast picking up pace amongst more and more businesses. Each day, a large number of employees are being sucked into the booming field of big data analytics. But, recruiting them can be a tad bit challenging, on the part of employers. In this regard, LinkedIn recently shared some valuable data that defines the standard career path of a machine learning professional, offering insights as to how enterprises can themselves build and nurture such talent.

In the process of conducting such an intensive analysis, LinkedIn scrutinized various profiles across the globe having at least one machine learning skill listed in their profiles. The analysis of profiles spanned from April 2017 to March 2018.

The result of the analysis is interesting; it highlighted the skills the professionals share with each other and at what point of their career they need to adapt to these skills. It also sheds light on what kind of skills are developed just before machine learning – and they are data mining, R and Python, respectively.

LinkedIn has a valuable suggestion for the recruiters – it says companies can seek job candidates that have these abovementioned skills, only to develop machine learning skill later.

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Some of the other skills worthy of professionals’ interest are Java and C++ – these programming languages are gaining importance day by day.

The data given below even illustrates which industry absorbs the majority of machine learning talent. Unsurprisingly, one third of professionals powered by machine learning skill falls under higher education and research category, more than a quarter of ML professionals are from software and internet industry and the rest are scattered amongst other industry types.

Following the insights, LinkedIn suggests that enterprises should look beyond their respective industries to seek right ML candidates. According to last year’s data, 22% of people possessing ML skill changed their jobs and amongst them, 72% changed industries.

Moreover, the data helps recruiter identify the right candidate by checking out the combination of his skills as a whole and the skills a ML professional should possess. For example, ML professionals belonging from the finance and banking sector are more likely to be specialized in business analytics, Tableau and SAS, while ML professionals hailing from software industry should have a vast knowledge on a broad spectrum of programming language skills.

Future of Machine Learning

Machine learning is another flourishing branch of AI. While the early AI programs were mostly rule-based and human-dependent, the latest ones possess the striking ability to teach and formulate their own operational rules.

2017 was smashing for witnessing growth of scope and capabilities of machine learning, while 2018 harbors potential for widespread business adoption, says a research from Deloitte.

As parting thoughts, AI is nothing but tools adopted to tackle high-end business problems. Designing a proper application of machine learning includes asking the right questions to the right people to get hold of right solutions.

Interested in Machine Learning Using Python? DexLab Analytics is the go-to training institute for all data hungry souls.

 
References:

zdnet.com/article/looking-for-machine-learning-experts-linkedin-data-shows-how-to-find-them

techrepublic.com/article/machine-learning-the-smart-persons-guide
 

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How Python Introduces New Audiences to the Exciting World of Computer Programming

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How Python Introduces New Audiences to the Exciting World of Computer Programming

What was the motivation behind the birth of Python? The language has been searched by American Google users more often than Kim Kardashian in the last one year! And the rate of queries related to Python has trebled since 2010.

Dutch computer scientist, Guido van Rossum, fed up with the shortcomings in commonly used programming languages, developed Python as his Christmas project in 1989. He wanted a language that was simple to read, allowed users to create their own modules for special-purpose coding and then made this package available to others. And lastly he wanted a ‘’short, unique and slightly mysterious’’ name. He named the package after the British comedy group, Monty Python. And Cheese Shop was the chosen name for the package repository.

Nearly three decades after this ground-breaking Christmas invention, the popularity of Python is still growing. According to stats from Stack Overflow, a programming forum, approximately 40% of developers use it and 25% intend to do so. But the programming language isn’t admired by the community of developers alone; it is well-liked the public in general. According to Codecademy, a website that has taught different programming languages to over 45 million novices, Python has the highest demand. Python aficionados, known as Pythonistas, have contributed over 145,000 packages to the Cheese Shop and these cover diverse realms, such as astronomy and game development.

Image source: Economist

Decoding Python’s Fame

Python isn’t perfect. There are other languages that have higher processing efficiency and give users better control over the computer’s processor. However, Python possesses some killer features, which make it a great general purpose language. It has easy-to-learn syntax that simplifies coding. Python is a versatile platform that has a variety of applications.

 

  • The Central Intelligence Agency uses it for hacking
  • Pixar employs it for work related to films
  • Google uses it for crawling web pages
  • Spotify recommends songs with the help of Python

 

Python is also widely used for tasks that are grouped under ‘’non-technical’’. Following are some examples:

 

  • Marketers build statistical models with the help of Python to judge the effectiveness of campaigns.
  • Lecturers use it to find out if the grading system is accurate or not
  • Journalists use codes written in Python for grazing the web for data

 

Professionals who need to trawl through spreadsheets find Python highly valuable for their work. EFinancialCareers, a website dealing with jobs, has reported a fourfold increase between 2015 and 2018 in job listings that mention Python. Citigroup, the reputed American bank, organizes crash courses in Python to train newly hired analysts.

Some of the most appealing packages within the Cheese shop harness the power of AI. Mr. Van Rossum declares that Python is the preferred language for AI researchers. They use it for creating neural networks and identifying patterns from huge data sets. However, the high demand for learning Python comes with certain risks. Novices who know how to use different tools but don’t know their intricacies well are prone to make faulty conclusions without proper supervision.

One solution for this problem is to educate students from an early age. Generally, teaching programming languages is limited to STEM students in American universities. A radical proposal is to offer computer science classes to primary school children. Anticipating a future filled with automated jobs, 90% American parents have expressed desire that their children receive computer programming classes in school.

Presently, 67% of 10-12 year olds have accounts in Code.org. In university level, Python has been ranked the most popular programming language for 2014. While nobody can predict how much longer Python will keep reigning, one thing is for sure, Mr. Rossum’s Christmas invention is truly smart and purposeful.

To the dismay of Pythonistas, on 12th July 2018, he stepped down from the position of supervising the community. The reason being his discomfort with the rising fame!

Well, we hope Python’s glory continues for years to come! To read more blogs on the latest developments in the world of technology, follow DexLab Analytics. If you’re interested in mastering machine learning using Python, then you must check our machine learning courses in Delhi.

 

Reference: economist.com/science-and-technology/2018/07/19/python-has-brought-computer-programming-to-a-vast-new-audience

 

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Python Is Gaining Popularity against SAS, R – Says Burtch Works

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Python Is Gaining Popularity against SAS, R – Says Burtch Works

Python is on the rise – though R and SAS are languages of choice amongst the data scientists but R is soon ascending the steps of analytics ladder. Already a lot of practitioners and data scientists have armed themselves up with this incredible R Programming tool for future career aspirations. To add volume to the statement, we’ve a new survey from a high-end recruitment agency, Burtch Works – let’s see what their comprehensive report says about our preferred language.

The survey began with R, an open source tool and SAS, another commercial tool. Later in 2016, Burtch Works added another open source tool, Python.

This year, however we witnessed something that never happened before. There’s no clear winner, this time – Python stood at 33%, R at 33% and SAS at 34%. “This is the first year that we’ve seen SAS, R, and Python all at the same level of preference,” said Linda Burtch, a quantitative recruiting specialist and Managing Director at Burtch Works.

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According to the results, R declined slightly as compared to last year figure, whereas SAS remained fairly flat. On a positive note, Python continued reflecting an increasing trend over the last two years, since its inclusion.

“The most noticeable trend from the 2018 data was Python’s ascension, and how Python’s growing popularity has been eroding support for R,” Burtch shared with InformationWeek. “Data scientists have typically strongly preferred Python, but predictive analytics professionals working primarily with structured data are shifting that way as well.”

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But what makes Python so fetching? It is considered to be a very strong language for machine learning, perfect for data visualizations and other statistical applications, better than SAS and R. Budding professionals enjoy working with Python(48%) as compared to R(38%) and SAS(14%). Survey reveals that open source tools, such as R and Python are in-favor of professionals who are young and new in technology. 

Going by the survey results, the use of R has fallen drastically from 50% in 2016 to below 40% this year. At the same time, the growth of python has been phenomenal – in 2016, it was standing at 20% and this year, it is hovering around 50%.

“Python gained support in almost every category we examined this year and has especially taken hold at the early career level, with professionals who have five or less years of work experience,” Burtch concluded to InformationWeek.

As parting thoughts, Python is considered to be a very versatile programming language. Its popularity soared in recent years – its usage and employability knows no bounds. For beginners and newcomers, it’s like a treasure trove waiting to be discovered. So, if you are one of them, it’s high time to consider a Machine Learning Using Python certification program – easy to learn and highly accessible, Python programming is ideal to get started. Most importantly, its simplified syntax with an undue focus on natural language is an added bonus.

 

The blog has been sourced from – 

informationweek.com/big-data/ai-machine-learning/python-gains-on-sas-r/d/d-id/1332331

kdnuggets.com/2017/07/6-reasons-python-suddenly-super-popular.html

 

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3 Recent Applications of AI will leave you Spellbound

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3 Recent Applications of AI will leave you Spellbound

AI technology has the potential to enhance societies in a number of ways. Here, we discuss some of latest developments in AI-based research.

AI can smell illness in your breath

According to a recent declaration made by Nvidia, AI can detect illness, including cancer, by analyzing the human breath. Researchers from Edinburgh Cancer Center in UK, Loughborough University, the University of Edinburgh and Western General Hospital have developed an AI program using deep learning methods that is  able to analyze compounds in human breath and predict illness. The motivation? Humans have a less developed sense of smell compared to other animals. Hence, a lot of information hidden in the air around us go unnoticed and can be perceived with a highly receptive olfactory system.

Source: news.developer.nvidia.com

The team of researchers said that this is the first machine learning model that can successfully detect compounds and ion patterns from raw GC-MS (Gas Chromatography and Mass Spectrometry) data. TensorFlow deep learning frameworks, cuDNN-accelerated Keras and Nvidia Tesla GPUs were used to develop neural networks for the program. The data utilized for expanding the neural networks was contributed by volunteers who had different forms of cancer and were undergoing radiotherapy. Artificial intelligence makes the process less expensive, and definitely more reliable and faster than humans analyzing a breath sample.

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AI is marking exam papers

A new concept is coming together in China’s education system. Experiments suggest that machine intelligence can contest a teacher’s marking capability and at times even surpass it! AI has long assisted humans in marking multiple choice exams and performed wonderfully in that. Chinese researchers have taken the examining powers of AI-driven machines a step forward and developed AI that can mark essays.

First, the system perceives general logic from the context and then links it to the meaning of words. It works like a human mind that first understands the theme of the story from the headline and then reads through the rest of the writing. The machine learning algorithm assesses the quality of the essay with human-like judgment. It grades the paper and provides remarks on areas where there’s scope of improvement. These remarks include the need to improve sentence structure and writing approach among others.

Source: Cambridge assessment

A case study conducted with 120 million students from 60,000 schools shows that both the algorithm and human teachers have the same average performance rating, which is 92%. However, the model is designed to automatically improve as it handles more tasks and is likely to outperform the teachers in future.

Secret Archives of Vatican being decoded with AI

Within the walls of the Vatican lies the most impressive collection of historical facts in the world. The Vatican Secret Archives contains records that date back to more than 12 centuries. Despite gazillions of pages stored in Vatican, only a selected few are available to researchers and scholars online.

Source: Serial Box

A new project named In Condice Ratio is combining optical-character-recognition (OCR) with artificial intelligence to help scan through all the information and upload it to online database. Traditional OCR method isn’t effective on handwritten documents. But the new OCR enhanced with AI, known as jigsaw segmentation, can recognize different pen strokes and turn the raw information into searchable data.

Source: In Condice Ratio

What the future holds

It seems like in the near future humans beings will need to use and depend on the judgment of AI applications on the daily. So, why not master the necessary skills needed to understand the workings of AI applications? Enroll for machine learning courses in Gurgaon and follow DexLab Analytics for the latest AI-tech blogs. We provide top-notch machine learning training in Delhi.

 

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Adopt Machine Learning and Personalize Marketing Game Big Time

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Adopt Machine Learning and Personalize Marketing Game Big Time

In the last couple of years, Netflix and Spotify have altered our digital expectations. The technology that these fast-growing streaming media companies use to generate fulfilling customized experiences is a particular kind of Artificial Intelligence, known as Machine Learning.

Highly technical though it sounds, Machine Learning is the most valuable, new-age tool that all the marketers need to employ right now. To better explain the nuanced concept, we’ll start with an approach that preceded it.

Human-based Marketing: Limited Scope

Previously, rules and segmentation used to dominate marketing domains; most of the customized experiences in the past were delivered through a set of norms, created manually by a marketer based on some predetermined criteria. Though the approach worked, but its scope was very limited.

The hitch is that the humans wrote the rules, based on what they believed true and right. But, remember, each human being is unique, and so is their perception. Also, their intent varies from time to time. In short, there exists too much data for a normal human being to assess or sort without taking the help of machines, or in this case Machine Learning.

The Rise of Machine Learning

Instead of relying on human intuitions, machine learning algorithms offer an innovative way for marketers to curate incredible experiences for individuals. No longer does the computer follow any rules and commands, rather we’ve programmed it to learn everything about a particular person, so that it can conjure up the experience that appeals to him the most.

For improved machine-learning personalization, marketers should build and feed in own ‘recipes’ to the computers that tell the kind of information to consider, when formulating someone’s digital campaign.

 Sometimes, the algorithms can be pretty simple, such as showing trending topics or they can be very complex, like decision trees or collaborative filtering. It all depends on the marketers to devise a strategy that would ensure the best customized experience for the visitors, of course with Machine Learning using Python.

Decision-making Induced by Machine Learning

When you speak with a person, you know what to say next and when to stop, based on the idea of previous encounters with him/her. Now, if it’s for the first time you’re speaking with him, you behave in a way you are expected to, based on social interactions with others.

Machine learning functions in the same way. Based on recognition and remembering past situations, this type of learning creates a fluid pattern that controls next behaviors.

It uses real data to derive at decisions, just similar to a normal human being who would come to a conclusion after a conversation.

As parting thoughts, humans shouldn’t hand over everything to the machines; machine learning can be all so rosy and perfect, but it’s us who needs to define, examine and refine the algorithms to make them work and fulfill the overall objectives of one-to-one customization and superior brand experience for the clients.

Of course, machine learning has over-the-top advantages against traditional human-based approaches, but it’s us who have developed them. And that matters!

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The blog has been sourced from – https://www.entrepreneur.com/article/311931

 

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Top 5 AI-based Applications for Crime Prevention and Detection

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Top 5 AI-based Applications for Crime Prevention and Detection

Companies and cities across the globe are attempting to employ AI in a plethora of ways to address crime. Day by day, city’s infrastructure is becoming smarter and tech-efficient. Crime detection is no more a catch-22. With easy availability of real time information, it’s now easier to detect crimes.

Here, we are going to dig into a few present AI applications in crime detection and prevention:

Gunfire Detection – ShotSpotter

ShotSpotter utilizes smart city infrastructure to pinpoint the area from where the gunshot came through. The company representatives claim that their system has the ability to alert authorities in real time with the data about what kind of gunfire it was and the exact location as accurate as 10 feet. Thanks to multiple sensors and their machine learning algorithm. They work by picking up the sound of the gunshot.

At present, they are being used in over 90 cities across the world, including Chicago, New York and San Diego.

AI Security Cameras – Hikvision

China’s top notch security camera producer, Hikvision made an announcement last year: they are going to use chips from Movidius (an Intel company) to develop cameras that would run intricate, deep neural networks right away.

They claim this new camera would better scan the license plates on cars, perform facial recognition for potential criminals and automatically identify suspicious anomalies. Currently, their advanced visual analytics systems can achieve 99% accuracy and with 21.4% of market share for CCTV and Video Surveillance Equipment worldwide, Hikvision has clearly secured a respectable position in the video surveillance space.

Predict crime locales – Predpol

Predicting future crime spots is no mean feat! But Predpol is proud to venture into that nuanced area with their powerful big data and machine learning capabilities that can predict the time and location new crimes are most likely to happen. And that can be done through data analysis of past crimes. Historical data plays an integral part in building such algorithms.

Los Angeles is one of the American cities that have adopted their system, among others.

Who commits the crime – Cloud Walk

Cloud Walk, the Chinese facial recognition enterprise is foraying into a new scope of technology where it would be possible to predict if a person decides to commit a crime, even before he attempts to. As a result, they have built a system to detect suspicions changes in the manner or behavior of an individual. For example, if a person buys a hammer, that’s completely fine. But of course, if he buys a knife and a rope, he comes under the radar of suspicion.

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Find suspects most likely to commit another crime – Hart

If you know, the individuals charged of a crime are soon released until they stand trials. Now, deciding who should be released pre-trial is like being in deep water. For that, Durham, UK has employed AI technology to enhance their current system of deciding which suspect to release. The program is called Harm Assessment Risk Tool (Hart), and is fed with 5 years’ worth of criminal data for smoother prediction of a person’s vulnerability towards crime.

A whole body of data is used to predict whether an individual falls under the purview of low, medium or high risk. Comparing the prediction with the real world results, we found out that most of the predictions of HART were close to being accurate.

The robust growth of AI and machine learning is the best thing since sliced bread. Their superior technology for crime detection is already in place, and is growing to expand further in the future.

Keeping that in mind, we at DexLab Analytics offer a bunch of Machine Learning Using Python courses to shape your future for good. Our Machine Learning Courses are of top quality and fits the budget of all.

The article has been sourced from – https://www.techemergence.com/ai-crime-prevention-5-current-applications/

 

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Top 4 Applications of Cognitive Robotic Process Automation

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Top 4 Applications of Cognitive Robotic Process Automation

With the dawn of automation, industries all over the world are depending on robots to carry out tasks, such as product designing and manufacturing. It optimizes repetitive processes and improves cost efficiency. Incorporation of cognitive capabilities, like natural language processing and speech recognition into robotic process automation has resulted in the birth of Cognitive Robotic Process Automation (CRPA). Let’s delve into the current applications of this revolutionary technology.

Finance and banking sector:

Customers are demanding expedient methods to transfer money and make investments.  Also, the volumes of customer data are increasing rapidly. Hence, banks need to improve the speed of information processing. To achieve this, they have turned to process automation. Many banks are adopting AI-powered technology to automate regular processes.

According to a survey conducted by BIS Research, Banking and Finance sector is likely to become the largest revenue generator in the world for CRPA industry. For example, Bank SEB in Sweden bought cognitive robotic process automation software from IPsoft, a foremost company of CRPA industry. This technology is actually a software robot named Amelia that has knowledge of 20 different languages and is aware of semantics, including English and Swedish. In case Amelia fails to solve the problem at hand, it transfers the same to a human operator, and studies the interaction to hone its skills and apply it to similar cases in future.

U.K.’s KPMG has collaborated with Automation Anywhere to provide digital staff for clients.

Insurance:

Task like manual inputs, data gathering and retrieval, legacy applications and system updating is very time consuming. Hence, the insurance industry is welcoming automation in its processes. This help with the following tasks:

  • Automates fraud detection, policy renewal and premium calculation
  • Improves customer service
  • Enhances employee engagement
  • Upgrades business productivity as software robots can work for hours at a stretch
  • Frees employees for important tasks that need manual handling

Developed economies, including U.S. and the European nations are extensively employing RPA/CRPA bots. AXA Group, one of the chief French insurance companies using smart automation services to improve its bankroll, reported that France has the fifth highest insurance premiums in the world.

Leading IT service provider of Australia, DXC Technology, has partnered with Blue Prism, one of the best companies providing RPA solutions, to improve the RPA capabilities for key insurance clients, like Australia and New Zealand Banking Group (ANZ). Fukoku Mutual Life Insurance, top insurance firm of Japan, has replaced 30 human workers with IBM’s latest AI tech, Watson Explorer. The tech’s deployment has boosted company savings and enhanced productivity by 30%.

2

Telecom and IT Industry:

Business process outsourcing (BPO) services are facing problems like increased operational costs and low profit margins. RPA/CRPA software bots can be one of the ways to tackle this problem. Hexaware Technologies, a topnotch company in this field, has partnered with Workfusion to evolve IT infrastructure, combat the aforementioned problems and boost overall productivity.

Healthcare:

Some of the challenges of the healthcare industry are:

  • Maintaining paper records of patients’ medical documents.
  • Transferring these records to digital databases
  • Manually updating databases
  • Maintain an inventory database for medicinal supplies
  • Systematic management of unstructured data
  • Innovation in healthcare encounter regulatory and reporting challenges when launching new drugs.

These tasks are repetitive and increase chances of errors when done manually. Automation helps tackle these problems and also provide safe and good quality drugs to the market. Blue Prism is one of the principal providers of RPA for healthcare.

Future Scope:

Competition in the global capital markets is increasing. New contestants are bringing in ‘’disruptive technologies’’ that are pressurizing existing institutes to increase their efficiency and cut down costs. Hence, the need to embrace cognitive automated technology.

Australia and Japan are among the top countries adopting process automation. Leading countries embracing RPA for financial services include India, China and Singapore. It is expected that Fintechs will mainly disrupt three areas of financial sector-consumer banking, investment handling, fund and payment transfer.

It is about time that all businesses and organizations integrate machine learning and artificial intelligence in their processes for competitive advantage.

How can you take advantage of this tech-driven era? Enroll for machine learning training in Delhi at DexLab Analytics. Many top companies look for expertise in this budding technology while recruiting employees. DexLab’s Machine learning course in Delhi offers superior guidance that will help you develop crucial knowledge needed to stay ahead of competition.

 

Reference link: https://www.techemergence.com/cognitive-robotic-process-automation-current-applications-and-future-possibilities

 

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