Why Artificial Intelligence
Executive Summary
Artificial Intelligence is used in business through machine learning algorithms. Machine learning is a part of computer science focused on computer systems learning to perform a specific task without using explicit instructions, relying on patterns and inference instead.
Machine learning algorithms detect patterns and learn how to make predictions and recommendations by processing data, rather than by receiving explicit programming instructions (‘if-then’ loops). The algorithms improve over time with new data coming in, ‘learning’ through examples.
Machine learning is primarily used in:
- predictions: what will happen,
- prescriptions: what should be done to achieve goals,
- descriptions: what happened. ...
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