In this week’s roundup, we take a look at several key questions surrounding artificial intelligence (AI) and business, including whether companies should adopt machine learning or predictive analytics, simple ways all companies can implement AI, how AI can prevent fraud, and ways companies can get employee buy-in for big data. We also learn about a new app that can predict a person’s likelihood of having a severe case of COVID-19.
Machine Learning Vs. Predictive Analytics: Which is Better for Business?
by Eric Vardon, contributing writer to Forbes.com
Machine learning and predictive analytics are the two primary components of AI. Machine learning—in which AI uses large amounts of incoming data to become smarter—can benefit companies that need to analyze current performance or detect threats. Predictive analytics, on the other hand, uses past data to predict future performance. Many businesses can benefit from both types of AI, but the amount and history of your data can make one more useful than the other.
14 Ways to Use AI Right Now for Fast Business Results
by Young Entrepreneur Council, contributing writers for BuiltIn.com
AI is still in its early days, and the opportunities for businesses to leverage it to their advantage are immense. These writers from the Young Entrepreneur Council selected fourteen simple ways companies can use AI. From optimizing advertising campaigns to automating repetitive work, all companies—not just tech companies—should be assessing where AI can lower costs and increase revenue across departments.
How Artificial Intelligence, Big Data Can Determine COVID-19 Severity
by Jessica Kent, contributing writer for HealthITAnalytics.com
Although COVID-19 has been around for more than six months, scientists understand very little about the novel virus. This coronavirus is behaving much differently than previous coronaviruses that scientists will be uncovering new insights for years—even decades. One of the more recent developments is an AI-powered app that can determine how severe a case of COVID-19 will likely be for an individual. Researchers at NYU used AI to analyze the biomarkers and demographics of Wuhan coronavirus patients to develop the new technology.
5 Tips for Understanding and Maximizing Data
by Mike Richter and David Lindblom, contributing writers for InformationWeek.com
As more businesses adopt AI technologies, they need to ensure that they have the buy-in of the whole company—not just those in IT. Some ways to do this are to implement company-wide training on AI and data analytics, empower leaders to get their employees excited about the possibilities of data, and to encourage the mindset of “practice, not perfection.”
Foiling Fraud with Machine Learning
by Caroline Hermon, contributing writer for TechRadar.com
Big data has disrupted industries from banking to retail. But while the impact of the technology has largely been positive, it’s also opened the door for more opportunities for fraud. Luckily, machine learning can help solve that problem as well. Some techniques include monitoring network logs, minimizing false positives, and using facial recognition in data-sensitive applications.
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