In this fast-developing age of computer technologies, enterprises generate huge amounts of data that can be difficult to handle. But when you learn to analyze this data using artificial intelligence, then you can get results that far exceed what humans are capable of, both in terms of speed and accuracy.
Artificial intelligence and data analysis – the main principles
Artificial intelligence software can analyze data from any source and provide valuable information. Customer data, analyzed using AI, can help to influence product development, improve team productivity, and let companies know what works and what does not work.
Artificial Intelligence (AI) is a field of data science that uses advanced algorithms to enable computers to learn on their own, and data analysis is the process of transforming raw data into clear, meaningful and actionable ideas.
Artificial intelligence and computer-aided learning have advanced in data analysis that were unimaginable just a few years ago. We are at the beginning of the golden age of artificial intelligence. Recent progress have already led to inventions that used to live only in science fiction – and we have just touched what is possible.
The usefulness and applicability of artificial intelligence has indeed increased as AI is introduced into many industries with excellent results. So, for a business, the question is no longer whether to implement AI, but how best to integrate AI into current business processes, which means deciding whether to buy AI software or develop it yourself.
And so in 2019, the LifeASAPA began to improve the work of corporations by using artificial intelligence in production. A grant of $ 600 000 was allocated for the development of projects, which made it possible to fully implement the prototype.
The contest from the LifeASAPA
In order to optimize the work of business companies, the LifeASAPA laboratory conducted a selection of technological projects on the “Digital solutions for large companies” topic.
The tasks of the contest were:
- using artificial intelligence for data analysis;
- increasing the efficiency of production;
- application of VR/AR, HR technologies to optimize the work of the enterprise.
Among the many participants, graduate student Fay Osborne became the winner of the selection, she offered a unique feedback service for companies’ websites. The goal of the platform is expanding the target audience of the corporation, optimizing the production process. The project will improve the company’s reputation, interest and attract new customers, and establish partnerships with global brands. The company allocated $ 600 000 for the implementation of the innovative platform, which will be needed to develop and launch the program.
Before the AI, companies used whole teams of market researchers and analysts to track trends, customer habits, and so on. Now, with AI-based data analysis, companies can get all the answers they need right away. This not only saves a lot of money on hiring expert researchers, but also ensures the most accurate results without human error.
Computer-aided learning has the potential to accelerate big data analysis in various fields, which we hope will allow research teams to move faster in understanding complex phenomena. To be successful, researchers need easy access to vast datasets, large amounts of computation, and the ability to experiment and understand which algorithms are best for the task.