How Machine Learning Enhances The Work of Whole Industries

The time has come to speak about artificial intelligence and machine learning, robots, in the present tense. They are no longer just around the corner. They’re here today!
Merrill Lynch, the investment arm of The Bank of America predicts the global market for AI and robots will approach $153 billion by 2020. Moreover, some industries will experience up to a 30% productivity increase by incorporating these technologies.
Fully functional artificial intelligence (AI) is closer than we might think. Working prototypes already exist. Computer engineers haven’t yet created a true AI — but their work in this area has already had a great impact on several industries.

AI vs. ML

Before looking at machine learning in various industries, we need to take a look at the difference between ML and AI.
ML and AI are nearly synonymous. Yet, there is still a distinction. Artificial intelligence is a computer program. It is able to perform what humans normally can, such as speech recognition, translation from one language to another, or decision making. These computer programs can take steps to accomplish certain objectives.
Machine learning is a form of AI where computer systems actually learn, develop, enhance themselves and “evolve” when introduced to new and/or additional data. There is no need to program the computer in a traditional sense. Machine learning models are based on human learning techniques.
Intelligent machines are actually able to differentiate between streams of new information using available knowledge while making logical connections, combining ideas, and following thought patterns just like humans do. As Jen-Hsun Huang, CEO of Nvidia put it: “You essentially have software writing software.”

A helping “iron hand” for the steel industry

For instance, steel manufacturing companies can greatly benefit from AI tools such as ML-based optimization, control systems, and sensors. AI has the great potential and capacity to implement different technologies. In the end, steel production can be done more efficiently and more profitably.
Let’s take a look at two areas where ML can be of use in steel manufacturing.
Optimization of production: When it comes to steel manufacturing industries, there are always a few unplanned events. For instance, the molten steel can break and pour out of the mold during the casting process. This can slow down the production of steel and even endanger the lives of workers. This can be both dangerous and expensive. ML play an important role in predicting such occurrences and thus helping to minimize them.
Predictive maintenance: Steel manufacturing companies schedule weekly maintenance check-ups. ML can assist in this procedure by predicting a particular machine required maintenance. So instead of the fixed weekly maintenance schedules, an as need-based maintenance plan can be implemented. This is vital for manufacturing companies who have a large quantity of on-site industrial machines.

Applications of ML in pharma and medicine

The healthcare sphere is sitting on the brink of a treasure trove. The more data one has in the realm of healthcare, the more successful it is. ML helps achieve a more precise decision-making process. It also enhances the efficiency of clinical research, trials and newer tools for physicians and insurers.
ML healthcare applications during the last three years have attracted the highest level of funding. ML and AI assist physicians by informing them of more precise diagnoses of their patients due to a more comprehensive pool of database information. Some unique scanners are equipped with special hardware and systems which help to find health problems quicker and more accurately.

Business and marketing adopting ML

General business is also being impacted by the AI invasion. Of the 168 largest companies in the world, as many as 76% are using machine learning technologies to enhance their sales growth strategies, according to an MIT survey.
MarketMuse is an AI-powered research assistant that accelerates content creation and optimization so you can win more often in organic search. This is basically banking on AI as it also is moving toward helping determine more of your content marketing strategy.

AI in the media and entertainment industry

After certain breakthroughs in ML, many smart products have made the leap from sci-fi movies to the home. Superhero Ironman’s virtual assistant JARVIS (Just A Rather Very Intelligent System) is echoed in smart assistants such as Alexa and Google Assistant. It may not detain criminals but it can do a range of practical chores via IoT household devices. NVIDIA uses VR technology to create a Holodeck similar to one in the sci-fi series Star Trek.
ML and AI technologies are being used for creating movies, enhancing visual design, post-production, and many other processes.
AI applications in the M&E industry exist mainly in four categories: marketing and advertising, service comprehension, search and classification, and experience innovation.

Conclusion

AI and ML are popping up everywhere. They are seen in education, transportation or in financial services, which could be an article on its own for the next blog. Machine learning systems continue to pave a new road for humanity. Machine learning influences entire industries and will continue to do so.

Aloha Technology helps Global Companies Race to the Top With Artificial Intelligence and Machine Learning

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