Self-driving vehicles, smart homes, various robots… Now in the 21st century it’s hard to impress somebody with these things. We perceive them as something completely ordinary, that is used in everyday life to make it easier. And it’s obvious that the area of emerging technologies hasn’t reached its limit and is constantly developing. At this moment it’s impossible to predict what level it may reach. We are surrounded by innovative technologies based on algorithms resembling the way the human brain functions. There are different ways these algorithms may be called: Machine Learning (ML), Deep Learning (DL) and Artificial Intelligence (AI) which are frequently used randomly, as if they are interchangeable. In the article we will try to figure out the difference between these notions and provide the examples of how AI is used in a variety of spheres.
Artificial Intelligence, Machine Learning, Deep Learning – Three Notions, the Same Meaning?
All the tasks solved by a human or a computer may be divided into two groups: routine and non-routine. The first group presupposes that it’s pretty simple to find the universal solution, such as adding numbers.
Artificial intelligence is commonly referred to as everything able to solve tasks of non-routine character on a close to the human level. For example, traffic cameras determine the speed of the vehicle and identify the license plate in case of speeding, thus the violator would get a ticket; Security systems at the airports and railway stations are able to identify criminals if his/her photo is downloaded to a system. All it is considered to be artificial intelligence, but in fact the algorithms underpinning each technology are unique. Therefore, artificial intelligence is the name of not a particular algorithm, but the name of a group of methods used for the solution of numerous tasks.
Machine learning is one of the areas of artificial intelligence. The main principle lies in the fact that machines receive the data and are “trained” on them. Machine learning systems allow to apply the knowledge gained during the training, which allows them to solve such tasks as image recognition, speech identification, translation and many more. Unlike the programs with manually encoded instructions for concrete tasks completion, machine learning allows the system to recognize the templates and make forecasts independently, on the basis of received data.
Deep learning is a subset of machine learning. It uses some methods of machine learning, such as neural networks that can imitate human behaviour for solution of real tasks. Deep learning requires a huge amount of data, that is due to the existence of a big number of parameters which require to be set up correctly for learning algorithms. For example, the algorithm may be instructed to recognize an image of a dog. Huge amount of images will be required for the training process, so the system would be able to differentiate a dog from a wolf or a fox.
Areas Artificial Intelligence is Successfully Used
AI in Real Estate
The real estate sector is considered to be pretty conservative, it is generally accepted that this sphere responds to any changings very reluctantly. But in recent decades the tendency has changed significantly, since the advantages that artificial intelligence may bring make any business owner think over its implementation:
- Lead Generation
It’s possible to reduce time spent for such routine tasks as frequently asked questions significantly. With chatbot implementation, real estate agents will not need to handle common questions, such as queries about cost, location and many more. Also, potential customers will receive an answer right away, which increases the possibility of the deal closure.
- Property Market Value Predictions & Detailed Analysis
Due to the huge amount of data AI is able to analyze in the shortest possible time, it’s possible to assess the value of the property in the market from the long-term perspective. Also, AI-powered software is able to extract the useful facts considering the property, based on processed data. The information may concern a huge number of various aspects, such as reviews of schools located in the residential area or parking spaces and their costs.
- More Efficient Deal Closure and Documents Processing
A human is not able to handle data as fast and efficiently as artificial intelligence. The companies using AI-powered software have a big advantage over those which haven’t, because of the higher conversion provided and more personalized approach and therefore faster deal closure.
Read Also PropTech: How Technologies Have Changed the Real Estate Domain
AI in Manufacturing
Manufacturing process involves plethora workflows requiring super-attentiveness, accuracy and caution. Since we are all humans, the probability of making mistakes is pretty high, which may lead to bad consequences and huge expenses. And here artificial intelligence comes to the rescue, its implementation helps to minimize such risks and boost up efficiency.
- Equipment Maintenance
Manufacturing process depends on the equipment condition, and it’s vitally necessary to maintain it in a timely manner to avoid risk of downtimes. Artificial intelligence can be combined with sensors and machine data, which helps maintenance managers to keep an eye on the technical condition of exploited machines, detect malfunctions and make predictions when failure may occur. This approach emphasizes on prevention of problems rather than addressing the consequences.
- Safe Working Environment
Working with machines presupposes high risks of work injury. Use of robots with integrated AI systems and sensors can minimize possible consequences, since such robots are not limited to the single one programmed task, but able to constantly learn. This ability allows them to recognize the dangerous situation and take preventive measures in case of such necessity.
- Possibility of Customization
Manufacturing companies are traditionally based on the mass production approach, and before the advent of AI customization could hardly be affordable. Leveraging artificial intelligence allows manufacturing companies to make products that would be more personalized which increases customer satisfaction.
Read Also Strengthening Your Manufacturing Business With a Custom ERP Software
AI In Logistics and Supply Chain
Artificial intelligence contributes enormously to the logistics and supply chain sphere. Managing a global logistics network requires many efforts to solve all the complexities of each stage of the logistics process. The use of artificial intelligence in this sector allows to maximally realize its potential, make more informed decisions and anticipate potential issues.
- Demand Forecasting
Implementation of artificial intelligence helps to perform better control over inventory in compliance with demand. AI analyzes necessary data and helps to predict the future demand. Such an approach proves its efficiency in assessment of a company’s capabilities which will lead to significant expenses reduction.
- Smart Warehouse & Robots
Can it be possible to speak about artificial intelligence without reference to robotics. Transformation of warehouses allows to simplify and automate tedious tasks, which leads to increased productivity and efficiency, and human error risks reduction.
- Costs Optimization
Even the most experienced logist is not able to build an ideal delivery route in a few minutes and take into account all the aspects, such as traffic intensity, roads quality, possible roadworks, distance, fuel consumption. Building an optimal route becomes possible with AI implementation: it helps drivers to perform deliveries timely and cost-effectively.
Although at the current moment artificial intelligence can not fully replace humans, it is being successfully used in a wide range of spheres and is really a big help. AI helps to boost up efficiency, reduce overall costs, prevent incidents… The list of advantages is pretty extensive, which makes business owners to seriously think over its implementation. If you intend to make your business more technology-based and search for a reliable partner that could help you with it, please contact us.