Название: Artificial Intelligence and Machine Learning for Business, 1st Edition
Автор: Namita Mishra, A.V. Senthil Kumar
Издательство: Apple Academic Press, CRC Press
Год: 2025
Страниц: 321
Язык: английский
Формат: pdf (true), epub
Размер: 41.9 MB

Artificial Intelligence and Machine Learning are integral parts of every business today, in areas ranging from finance, strategic decision-making, HR operations, and sales and marketing to manufacturing and more. This new book demonstrates how Artificial Intelligence and Machine Learning can be used in every aspect of business and as a foundation for complex decision-making. The volume covers such topics as the use of AI in employee training, in stock market prediction, in traffic detection, in opinion mining, in fraud detection, for retail purchase predictions, in online customer support interactions, and more, proving the diverse ways AI can be used in many facets of a business. The use of AI is also explored in fields such as garbage systems, agriculture, precious metals, banking, HR hiring, and so on.

Artificial Intelligence (AI) refers to the advancement of intellectual machines that can achieve tasks that normally require human intelligence. It encompasses an extensive range of techniques, including natural language processing, computer vision, robotics, and machine learning. Artificial intelligence aims to duplicate human intellectual abilities, such as knowing things through learning, reasoning, problem-solving, and managerial decision-making.

Machine Learning, a subgroup of AI, emphasizes building algorithms and statistical models that permit computers to learn from and make forecasts or take actions based on data, without being unambiguously programmed. It involves the use of large datasets to train models that can generalize designs and make correct forecasts or decisions.

In the realm of business, AI and ML offer transformative capabilities that drive innovation, efficiency, and strategic decision-making. Below are selected significant areas where AI and ML can benefit businesses:

- Automation: AI and ML technologies can automate tedious and routine tasks and can release human capital for more value-added actions. This includes automating customer service interactions, data entry, inventory management, and production processes.

- Data Analysis and Insights: Businesses produce huge amounts of data, and AI and ML can help create valuable insights from this data. By analyzing patterns, trends, and correlations within data, businesses can make data-driven decisions, identify market opportunities, optimize operations, and personalize customer experiences.

- Predictive Analytics: ML systems can be trained to forecast future results based on historical data. This enables businesses to forecast demand, anticipate customer behavior, adjust pricing strategies, and reduce risks. Predictive analytics can also help in fraud detection, supply chain optimization, and predictive maintenance.