Artificial intelligence solutions are everywhere, and you use them daily without even realizing it. Thanks to self-learning machine learning algorithms, the content that appears on your social media accounts is tailored to fit your interests, and the amount of junk mail coming into your inbox has also gone down from what it used to be.
Artificial intelligence is a broad concept that doesn’t just mean self-driving cars that have received a lot of media attention, or advanced deep learning solutions (deep neural networks). Machine learning is one of the subcategories of artificial intelligence, and one of its fundamental parts is its ability to evolve over time, or in other words, to learn from the data it receives.
Machine learning helps to solve the everyday challenges that businesses face. Clients leaving the customer base is probably one of the most difficult challenges to try to predict. This kind of information is important, for example, to telephone operators and fitness and health club chains. Customers that are considering switching to competitors can be offered attractive campaigns to make them stay on as clients.
The potential of utilizing artificial intelligence in Finland
According to a recently published survey carried out by PwC, "Uncovering AI in Finland", utilizing artificial intelligence could bring a potential growth of 20 billion euros to the gross national product by 2023. Large Finnish companies are constantly experimenting with different areas that could utilize artificial intelligence: more than half of the 20 companies included in the survey are already using an application that utilizes artificial intelligence. On the other hand, majority of smaller companies haven’t had the time to even think about, let alone plan, utilizing artificial intelligence. According to the survey, the biggest challenges in utilizing artificial intelligence have to do with data quality, technology, and personal competence.
Utilizing artificial intelligence – where to start?
The advice from the pioneer companies that took part in the survey is to start utilizing artificial intelligence immediately, in the form of small experiments. Machine learning can achieve good results even with a small investment, and machine learning experiments are a good first step toward utilizing artificial intelligence. Concrete experiments provide practical knowledge on what kind of challenges can be tackled with machine learning, and what kind of data the solutions require. It could very well be that the appropriate data necessary for a functional solution is not even being gathered yet. The sooner you start experimenting, the sooner you can ensure that there is good basis in place for enabling artificial intelligence solutions.
Want to know more? We are offering a quick survey on machine learning, which ensures that your first steps to utilizing artificial intelligence are easy and affordable:
Innofactor Machine learning quick survey – a quick start without a massive project:
- Examines whether your company’s problem is solvable by using the methods of machine learning
- Implements a machine learning model in Azure Machine Learning -service
- Demonstrates results and their interpretation. Evaluates whether additional benefit could be gained from utilizing the machine learning model, compared to the current situation.
- Presents ideas for further improvement, as well as estimated costs of implementation to production.
Tuomas works as a Data Analyst in Innofactor’s BI & Analytics team. Tuomas is interested in utilizing machine learning to make better decisions and automating manual processes.