The goal of this article is to provide AI (Artificial Intelligence) consultants, technology enthusiasts, and business owners with 16 actionable tips to successfully apply Artificial Intelligence in any business says Peter DeCaprio.
I’m an artificial intelligence consultant for many years now and I see too often that businesses don’t understand what Artificial Intelligence is all about. They think it’s something complicated or expensive or not yet available on the market or that they can’t use it because they don’t know how to work with data!
So I decided to write this post to show you how easy it can be if you want to start using AI in your business today!
Here are the 6 things I recommend every business owner should do before starting their AI journey:
#1 Find Out What Artificial Intelligence Can Do For You
Artificial intelligence is a part of the group of technologies as machine learning, so let’s start with this.
Machine Learning can be defined as:
“The ability of a program to learn and improve from data without being explicitly program “
So it means that Machine Learning algorithms can do something they haven’t done before just by looking at the data says Peter DeCaprio. I bet you’re already imagining how much time and money it can save you if your application or business doesn’t have to change every single time someone uses it!
#2 Get To Know How AI Works (The Fundamentals)
AI works well when we feed it with tons of data and after getting familiarize with similar data. Artificial Intelligence algorithms will try to find a pattern in your data.
This is Machine Learning and it involves more than hundreds of algorithms. Each one of them has a specific role. With some luck, you might even be able to guess what they do by their name! For example Regression, Clustering, and Classification.
#3 Find Out How Artificial Intelligence Can Help You with Your Specific Business Problem
Now that we know what machine learning is and how it works. Let’s find out what kind of problems we can solve with it! Here are some areas where AI algorithms excel: Spam detection Classification Cluster analysis Forecasting Recommendation systems Fraud detection Filtering Support ticket routing Optimization Image recognition
#4 Clustering can be used, as we already mentioned before, to group similar people or things together.
For example: if your business is an e-commerce store specializing in women’s clothing. You could cluster users based on their preferred colors and styles. That way you would know which type of items they might be interesting in! Or if you own a hotel and want to find out how many rooms to book for different events going on at the same time. Clustering would help you do it by looking at current trends among your guests explains Peter DeCaprio.
#5 How to Start Using AI Systems in Your Business?
If you decided that AI brings enough value to your business, it’s time to start using it! At this point, you might be wondering how I actually create my own machine learning system. Well, there are many platforms that allow you to do just that with minimum effort. Some of them are completely free while others offer different types of subscriptions depending on your requirements. Here are some examples: Google Cloud Platform – allows you to use both TensorFlow and Cloud ML APIs IBM Watson Machine Learning – offers ready to use text analytics, speech recognition, and video analysis tools Microsoft Azure – provides access to numerous AI APIs like Bing Spell Checker, News Topic Tagging and others
#6 You Need To Know 3 Main Components of Any Machine Learning System
There are three main components of any machine learning system: data, model, and algorithm. We already talked about the importance of data but what’s so special about it? Well, good quality training data will bring high accuracy says Peter DeCaprio. There are two types of datasets that can be used for predictive modeling. The static dataset is basically all information you have that is not changing over time. This might be people’s contact information, product prices, or descriptions. The simplest example of a static dataset is a spreadsheet with lists of items and buyers. On the other hand, if your data can change such as an online shop. Or any social media platform it will be called a dynamic dataset.
There are many AI systems that help you with tasks like clustering or sentiment analysis. Even if your data is not that large. These systems can easily handle it and save you money for more important things!