It is not the quantity of information that is important, but the insights that one can derive from this vast amount of in-formation being produced by the company and how it deals with this data.
On the other hand, artificial intelligence (AI) deals with intelligent actions of machines in computer science.
Information technology (IT) is a machine’s resourceful ability to simulate human behaviour and their routine patterns of response.
Topics that command global attention include a combination of Internet of Things (IoT), cloud solutions, deep learning, graphics processing unit (GPU), image and video analytics.
These technologies are transforming people’s lives and providing more customised experiences, but little did people know how this would transform the world.
Many businesses today are beginning to explore how they can automate processes with AI solutions and subsequently use big data algorithms to further analyse the data collected.
Here are a few ways in which big data and AI are changing our lives:
Better decision-making through business intelligence (BI) BI supports better decision-making by turning data into the right format that can easily be consumed by people.
It is about getting the right data at the right time to the right people. BI allows organisations to run analyses easily and more efficiently.
Therefore, BI and big data go hand in hand when it comes to managing business-related activities.
A visualisation dashboard can also be created to showcase and story-tell what is going on in the data.
This information dashboard allows constant monitoring as well as analyses and shows the key performance indicator metrics and key data points to monitor the growth of an organisation, department and process.
This dashboard not only links to files, attachments, utilities and application programming interfaces (APIs) behind each screen but also shows all the information in the form of graphical images.
Provide good customer service
A loyal, contented and satisfied customer is a happy customer. But how can you guarantee that your customers are happy at all times?
With these technologies, you can know your customer needs or pre-empt the needs beforehand by building a predictive model and programme such as an IOT device that can capture customer sentiment.
This is one of the most well-known techniques when it comes to applying big data and AI applications, as the primary emphasis is the use of these technologies to understand customer interests, habits and, most of all, buying behaviour patterns.
Sentiment analysis models can identify patterns in text using Natural Language Processing (NLP) and a set of algorithms that automatically classify positive, neutral or negative. Through sentiment analysis, you can understand your customers better and provide them with the best service.
Big data, with the help of AI, is here to provide organisations with the necessary knowledge to help minimise operational costs. By applying these technologies, companies can monitor past trends and customers’ needs as well as predict events according to the resources and needs given.
This is not a short-term strategy to be achieved, however, as reducing overheads must be planned over a period of time, taking into account past trends, future events and customers’ sentiment and buying behaviours.
Fight climate change
When it comes to climate change, the world is at a turning point.
Data plays a key role in making that happen, according to the World Economic Forum.
Many big climate data research projects have been carried out and so have the implementation of IOT and cloud computing to investigate climate change.
These big data and AI technologies have been introduced in the aspects of smart agriculture, smart urban planning, smart urban farming, weather forecasting and many more.
Enable new discoveries in healthcare
High-performance machines are used to interpret data patterns in many ways, especially with the development of distributed computing and storage.
IOT is one of the biggest enablers for personalised healthcare technology.
Many health elements are already tracked by our smartphones or wearable devices such as Fitbit.
This data can be collected in many different ways, and the statistics can be used to recognise interesting behaviour such as sleeping and other physical pattems.
These trends and probability models can then be used by computers to determine whether a patient is likely to be affected by any health issues.
Finally, big data and AI have gained popularity everywhere and made a huge impact on our dai-ly lives.
Technology changes both the way people live and the way they connect with the world and how companies run business. But this is not all.
In the coming years, there are many changes to come, redefining the world’s way of working.
But as culture shifts to embrace these technologies, new employment for the next generation will also be opened up.
– Angela is an Assoc. Professor at Sunway University. This appeared in the Edge.