Facing Data Paralysis? This Might Save You

Facing Data Paralysis? This Might Save You

Importance of Datasets in Machine Learning and AI Research

Most of us nowadays are focused on building machine learning models and solving problems with the existing datasets. But we need to first understand what a dataset is, its importance, and its role in building robust machine learning solutions. Today we have an abundance of open-source datasets to do research on or build an application to solve real-world problems in many fields. However, the lack of quality and quantitative datasets are a cause of concern. Data has grown tremendously and will continue to grow at a higher pace in the future. So, how do we use the huge volumes of data in AI research? Here we will discuss ways to smartly leverage the existing dataset or generate the right datasets for the given requirements. What is a Dataset in Machine Learning? Dataset is a collection of various types of data stored in a digital format. Data is the key component of any Machine Learning project. Datasets primarily consist of images, texts, audio, videos, numerical data points, etc., for solving various Artificial Intelligence challenges such as  Why is Dataset Important? We can not have an Artificial Intelligence system with data. Deep Learning models are data-hungry and require a lot of data to create the best model or a system with high fidelity. The quality of data is as important as the quantity even if you have implemented great algorithms for machine learning models. The following quote best explains the working of a machine learning model.  Garbage In Garbage Out (GIGO): If we feed low-quality data to ML Model it will deliver a similar result. According to The State of Data Science 2020 report, data preparation and understanding is one of the most important and time-consuming tasks of the Machine Learning project lifecycle. Survey shows that most Data Scientists and AI developers spend nearly 70% of their time analyzing datasets. The remaining time is spent on other processes such as model selection, training, testing, and deployment. Limitation of Datasets Finding a quality dataset is a fundamental requirement to build the foundation of any real-world AI application. However, the real-world datasets are complex, messier, and unstructured. The performance of any Machine Learning or Deep Learning model depends on the quantity, quality, and relevancy of the dataset. It’s not an easy task to find the right balance.  We are privileged to have a large corpus of open-source datasets in the last decade which has motivated the AI community and researchers to do state-of-the-art research and work on AI-enabled products. Despite the abundance of datasets, it is always a challenge to solve a new problem statement. The following are the prominent challenges of datasets that limit data scientists from building better AI applications. How to Build Datasets for Your Machine Learning Projects? An Artificial Intelligence application flow is depicted in the diagram below. The first two components are the dataset acquisitions & data annotation section which are crucial to understanding for building a good Machine Learning application. Nowadays, we have ample resources where we can get datasets on the internet either open-source or paid. As you know data collection and preparation is the crux of any Machine Learning project, and most of our precious time is spent on this phase. To solve the problem statements using Machine Learning, we have two choices. Either we use the existing datasets or create a new one. For a highly specific problem statement, you have to create a dataset for a domain, clean it, visualize it, and understand the relevance to get the result. However, if the problem statement is common, you can use the following dataset platforms for research and gather data that best suits your requirements. Actionable Advice for Data-Driven Leaders Struggling to reap the right kind of insights from your business data? Get expert tips, latest trends, insights, case studies, recommendations and more in your inbox. Best Dataset Search Engine Platforms for a Machine Learning Challenge Below is the list of a few dataset platforms, that allow us to search and download data for Machine Learning projects and experiments. Most of the datasets are already cleaned and segregated for ML and AI project pipeline. However, we have to filter and utilize them according to our specifications. Custom Dataset can be created by collecting multiple datasets. For example, if we want to build an app to detect kitchen equipment, we need to collect and label images of relevant kitchen equipment. For labeling the images, we can run a campaign to collect data by encouraging users to submit or label images on a platform. They can be paid or rewarded for the task. Here are a few options that can be used to get data quickly for your requirements. A synthetic dataset is created using computer algorithms that mimic real-world datasets. This type of dataset has shown promising results in the experiments conducted to build Deep Learning models to create more generalized AI systems. Different techniques can be leveraged to generate a dataset.  Nowadays, researchers and developers utilize game technology to render realistic scenarios. Game framework unity is used to create datasets of particular interest and then used in the production of real-world data. Unity report shows that the synthesized dataset can be used to improve models’ performance. For instance,  computer vision models use synthetic images to iterate fast experiments and enhance accuracy. Generative Adversarial Networks (GANs) are also used to create synthetic datasets. These are neural network-based model architectures used for generating realistic datasets. Most use case requires data privacy and confidentiality. Hence, these networks are utilized to generate a sensitive dataset that is hard to acquire or collect from public sources. Data Augmentation is widely used by altering the existing dataset with minor changes to its pixels or orientations. It’s helpful when we are out of data to feed our Neural Network. However, we cannot apply the augmentation technique to every use case as it may alter the real result output. For instance, in the medical domain dataset, we cannot augment more data from the

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Role Of Artificial Intelligence In Web Development

Artificial Intelligence (AI) has evolved into a promising field in recent years, and now it’s an indispensable part of the web development world. Web development is an industry where user experience is everything. Any challenges regarding customized user experience can be easily solved using AI. The end question still remains, is hiring an AI/ML development company worth your web development needs? Around 38% of people will stop engaging with a website if the content or layout is unattractive. It means that you only get 0.5 seconds to make an impression on your visitor. Also, 90% of users leave a website because it is poorly designed. These are just a few stats that emphasizes the importance of having a website that has got everything from layout & design to loading speed right. AI/ML can make it much easier for web developers to deliver high-quality results faster. By using AI, you can improve the user experience of your website with chatbots, web design, marketing strategy, etc. How Artificial Intelligence Is Used In Web Development 1. For Faster Coding Coding is considered a problematic or challenging task, which it is. With AI, coding is way quicker and manageable. Artificial Intelligence in web development automates multiple tasks that help developers to create code more efficiently. Automated coding has massively cut down processing times and has allowed developers to build more intuitive apps in a short timeframe. 2. For More Personalized User Experience (UX) The whole fuss about getting everything right is about this one thing, providing a personalized and best user experience to all the visitors. AI-powered websites offer a personalized experience to all visitors, making the experience better for them and encouraging participation. 3. In Chatbots For 24*7 Support & Better Reply Predictions Not all businesses can afford to have support staff that work round the clock. Instead, you can hire a machine learning engineer to develop a chatbot for your website. Chatbots provide faster customer service and help manage customer requests better. On average, chatbots have increased sales by 67% for the companies who use them on their website. This is because chatbots make the customer experience better for every customer. 4. For Better Voice Search Optimization 58% of consumers are using voice search features to find information on local businesses. For a business website, voice search adaptability is an essential accessory if you want to gather more traffic and provide an easier way for your customers to find you. Virtual assistants such as Google Home, Siri, Cortana, and Alexa use AI to recognize and react to voice commands. Many people prefer to use voice search instead of typing their searches as this is a more convenient way. The Future of Artificial Intelligence In Web Development Even with all these benefits of AI in web development, in the end, it’s a machine. And a machine works best with human intervention every now and then. With AI, web developers can create better websites in terms of design and performance in a shorter period of time. But on the other hand, AI can provide better results with human intervention wherever possible. Creativity is something that only a human mind can have. This is the main reason why human intervention is necessary with AI to generate the best results, especially in a creative field like web development. Final Thoughts Artificial Intelligence and machine learning have evolved a lot since their initial discovery, but there’s still huge potential yet to be discovered. With the increase in the demand for AI in several aspects of human society, we will further see even more major developments and progress in this field. It still needs human intervention on a large scale to produce the best results, but it may be possible in the near future that AI alone will be enough. This technology will provide benefits to both businesses and their customers due to its fast learning abilities and speedy results. Would you use AI to help your web development team deliver better results?

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How Can AI Transform Wealth Management?

A Gartner report suggests that by the end of 2024, nearly three-quarters of companies will shift from pilot to operational AI. Artificial Intelligence has been changing the dynamics of different industries. And the finance industry is no exception here. AI is also fast becoming an integral part of wealth and asset management companies. Financial advisors or wealth managers have been providing effective investment solutions to the wealthiest individuals and businesses for ages now. Yet, according to eMarketer: 37% of clients worldwide prefer their fund managers to choose hybrid advisory engagement for leveraging automation in wealth management. Thus, managers are adopting artificial intelligence in wealth management for advanced projects. It also helps them provide enhanced customer experience, investment decisions, and risk management.  How Does AI Help in Asset Management? Several financial institutions and wealth managers are discussing AI and its soaring benefits. Yet, a lot are reluctant to invest in AI for asset management. As asset means large holdings, it also means significant responsibility. This is where AI asset management can support managers in many facets. Automating Task Artificial intelligence is becoming a valuable addition to wealth management. It can help identify trends in market performance and suggest portfolio composition. Furthermore, AI can help automate tasks such as investment research and portfolio management. This analysis helps to reduce costs for clients. It also increases the accuracy and timeliness of the advice provided.  AI asset management can result in tremendous innovations which would not happen otherwise. It can also encourage tech-savvy strategies for managers to deliver value. Thus, wealth managers can make a client’s financial journey more successful.  Improved Decision Making Wealth management is a complex and challenging task. It requires the manager’s ability to make sound judgments about financial investments. This is where AI comes to their rescue. It offers immense potential to automate and streamline processes for advisors. It also supports them with insights that may not be able to detect. For example, an AI-powered platform can scan large data sets and identify trends. These custom-made platforms are particularly designed by AI companies to provide greater efficiency and accuracy in investment decisions. Thus, improving decision-making. Identifying Risk The use of artificial intelligence is gaining much popularity. This is because AI in investment management can identify risk in a portfolio. Also, it helps in offering suggestions for improvement. With this, advisors can ensure that a client’s money is being managed responsibly. And also avoid putting them at risk for financial instability or loss. It also provides guidance on best practices for saving and effective investment strategy.  Data Insights  AI can support managers identify integral data points. These include account balances and transactions. Further, advisors can manage their client’s data, identify patterns, and predict future behavior. This allows advisors to provide better service and recommendations. Also, make better investment decisions and stay ahead of the competition. It also helps advisors find new customer segments and identify fraudsters. Can AI Replace Fund Managers? There is no doubt that the incorporation of AI is revolutionary and it accelerates the overall functioning of asset management. It also makes data processing and investment strategizing proficient. However, a complete replacement of manual labor with machine learning might not be the future. The reason is, that artificial intelligence needs to undergo certain scrutiny and security assessment to make these solutions reliable. We also need businesses to develop a sturdy infrastructure that welcomes innovations for optimum usage. Regardless of AI’s advantages like higher efficiency, and reduced speed, complete replacement wouldn’t take place. Where and How to Adopt AI in Wealth Management? If you want to get started with artificial intelligence in wealth management, there are a few things that every manager must analyze before starting. Hence, by automating tasks and providing personalized recommendations, AI can support managers in providing efficient portfolio management with wiser recommendations. Advisors who embrace AI will be in a competitive position and offer quality services. 

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How Computer Vision is Transforming the Global Transportation Industry?

Technology has played a critical role in transforming the way individuals interact with each other over the past few decades. The changes may have started with communication, the technological advancements have quickly moved into other areas like manufacturing, after-sales service, and logistics, among others. For instance, mobility is one of the most important pillars that contribute to economic activity in any economy. Modern technological solutions combined with the power of artificial intelligence and machine learning are transforming the global transportation industry. One of the critical components of this tech machine is computer vision. Experts believe that computer vision in transportation is a necessity that has multi-pronged benefits and applications across many use cases. The level of success of computer vision is increasingly playing a big role in changing the status quo in the transportation industry. What is Computer Vision? Computer vision is a part of artificial intelligence solutions that helps computers to derive actionable meaningful information from various input sources like images, videos, etc. In other words, if AI systems allow computers to think like humans, computer vision enables computers to see, observe and understand visuals like humans. The benefits of computer vision capabilities are not only limited to the transportation industry. Computer vision systems are already playing a big role in transforming many other functions like healthcare, manufacturing, agriculture, retail, etc. Benefits of Computer Vision Computer vision can help in a variety of ways. Some important benefits of computer vision are as follows:  Computer Vision in Transportation Industry Computer vision or vision transport tracking is critical to the future of the transportation industry mainly because of its multi-use-cases across areas like self-driving cars, traffic management, parking management, road condition monitoring, and more. For instance, according to a CDC report, around 1.35 million people across the world are killed on roadways each year. In fact, crash injuries are the 8th leading cause of death globally.  Computer vision is at the center of driving intelligent transportation systems across markets. Computer vision is playing a critical role in the following areas in the transportation industry: Self-Driving Cars We are living in an era where self-driving driving or autonomous vehicles are a reality. As companies are working on improving the capability, reliability, and safety of self-driving cars, computer vision is driving this change from the front. As vision transportation tracking helps in identifying and classifying static and moving objects, computer vision has played an integral role in making self-driving cars a reality. Traffic Management The advancement in the field of computer vision has paved the way for efficient traffic management and flow analysis. As computer vision helps in providing accurate information like traffic density, freeway traffic count, etc., it results in better traffic management and improved road safety. Computer vision is also expected to play an integral role in futuristic public transportation going forward. Parking Management Computer vision is widely used as the solution for parking management in place of costly sensor technology that requires regular maintenance. It is expected that the parking management solution would soon be used along with the license plate recognition solution to identify which vehicle is occupying which parking spot.  Road Condition Monitoring Computer vision has been found useful in monitoring road conditions. This helps in decreasing safety risks for vehicles and pedestrians and improving road maintenance efficiency. Many countries are using computer vision to trace, track and improve road conditions for improved mobility. Governments usually hire computer vision as a service for road condition monitoring.  To sum up Computer vision has provided several groundbreaking innovations to the transportation industry. It is expected to play an increasingly important role in coming up with solutions that are expected to decide the roadmap for how transportation will change in the future. 

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Artificial Intelligence in HR: Human Resources Reinvented

A company’s success depends upon how effectively and efficiently it manages its 3Ts, time, talent, and technology. Given the plethora of jobs today, it is humanely impossible to find the right candidate at the right time. That’s where the third ‘T,’ technology comes to the rescue. Artificial intelligence is one such advanced technology that constantly changes the HR domain. From hunting to onboarding, artificial intelligence is now playing a significant role. But before we understand how AI is transforming human resource management, let’s first understand why and what is Artificial intelligence in hr or the human resources department. AI refers to the ability of machines to interpret and process information like humans. In HR, AI can not only manage the recruitment process but can also help onboard candidates smoothly. Why AI in HR? With the changing dynamics of the business environment, there is a need to manage the organizational workforce. We, as humans, have a limited capacity to do everything, and doing routine tasks might become tedious. This eventually affects the overall productivity and efficiency. That’s where the magic of Artificial Intelligence works the best. Here’s how AI and human resources go hand-in-hand: 24*7 Access With the 24*7 availability of AI Chatbots, any potential talent can easily understand the procedure and other relevant details about the company or particular topic. The use of conversational AI in human resources promotes connection and relationship building. Enhances Efficiency The repetitive task can be shifted from manual mode to automation. This shift gives the workforce more time to concentrate on additional tasks, eventually boosting the overall productivity and efficiency. Personalized Communications AI can ensure personalized communication, especially with the newly recruited talent. With AI tools like Talmundo, where the talent can break the ice through a chatbot.  Analytics AI can use real-time data to identify emerging problems when employees raise similar concerns and address them before escalating. Role of Artificial Intelligence in Transforming Human Resource Management The role of artificial intelligence in HR functions is endless, as it is constantly changing the HR working dynamics. The following explains how is AI being used in HR and recruitment: Screening Out Potential Candidates As soon as any company calls for an application, a large number of applicants start forwarding their application to the respective HR. Here, scanning the resumes manually may overlook the best potential candidates, given the number of applicants. However, artificial intelligence HR software like HireLakeAI can be leveraged to manage the hiring process. From shortlisting the resume of candidates to the final round of interviews, this AI-based solution helps HR in making ideal recruiting decisions. Creating a Diverse Work Environment While scanning and shortlisting profiles, HR may unknowingly be biased based on age, gender, etc., making the recruitment process unfair. But AI is trained and programmed to filter out any kind of bias during the screening process, making the procedure fair, unbiased and equal. This emerging role of artificial intelligence in HR functions like screening and finalizing potential candidates helps build a diverse team, leading to a better and more productive work environment. Building an Interactive Candidate Experience Usually, it is pretty difficult for HR to communicate with all the candidates. This leads to a bad impression of the company. But AI chatbots are now used to build an interactive candidate experience.  For example, chatbots can guide the candidate for further process, schedule interviews, etc., ensuring a smooth and interactive recruitment procedure. Smooth Onboarding Traditionally, the onboarding process was time-consuming once a candidate was recruited, as the candidate had to manage documentation. However, AI has made this process easier by digitizing and automating documents. They also help properly organize the documents and store them in zip files. Moreover, AI can also track when the hired candidate has gone through these documents and remind them to provide a digital signature. Application of AI in HR Hunting Ideal Candidates Artificial intelligence in HR can help in attracting potential candidates by analyzing the user’s search patterns and advertising companies that are open to recruiting such specific job roles. For example, LinkedIn uses simple AI to target the potential candidate. It attracts them using some recommendation algorithms, that is “related jobs for you” feature.  Effective Communication Not having proper communication might lead to a stressful work environment. Therefore, a better communication process is important to have clarity on the job responsibilities. Using AI solutions, the HR department can streamline proper and productive communication in the company, efficiently comprehending texts and voice messages and detecting their tone.  Moreover, this AI solution in HR can highlight the present tone so that the person communicates professionally, without any bias, and in a non-offensive tone. Data Collection There is more to a candidate than what his resume displays. Therefore, it is equally important to dive more into the candidate’s profile by digging the social media, past company reviews, etc., to look out for any scope of concern. Artificial Intelligence tools provide efficient data aggregation techniques to collect information.  For example, eBay and IBM use AI-powered data aggregation to extract data from a variety of sources, store them and analyze them to conclude the work experience and market value of the potential candidate. Talent Management Hiring a candidate through resume shortlisting and interviews is just one of the many ways a company acquires a candidate. However, the candidate is more likely to join a company if he sees the potential for growth and advancement in his career by working in the company. Artificial intelligence for HR can benefit here by streamlining the process of connecting him/her to someone in the company who already has proficiency in that skill.  Why Should You Opt For AI-Based HR Solutions? Enhances Productivity  Managing the human workforce of the company can be a nerve-wracking task. But using AI-based solutions in HR, the HR team can easily plan out a proper workflow from start to end rather than shifting a task to a particular day. This will eventually lead to a faster process without compromising on the

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AI in Gaming: Smarter and Intelligent Gaming Experience

With an estimate to hit the CAGR of 12% by 2025, the gaming industry is growing significantly. According to the reports, Artificial Intelligence (AI) and Virtual Reality (VR) are an integral part of the global gaming industry. Moreover, it is assumed that almost $4.5 billion were spent by immersive gaming (a game with a real-like world) players in 2020 alone. Though gaming is one such industry where AI set its footsteps a long time ago, let’s understand what is the role of AI in gaming. What is AI in Gaming? Since AI inculcates human intelligence into machines, making them function like humans and carry out actions like humans have changed the gaming industry drastically. With the application of artificial intelligence in gaming, now players encounter a realistic gaming experience on a virtual platform and showcase their skills to their full potential against an AI-based worthy opponent. For example, Mortal Kombat is a duo fighting game where the AI-based opponent learns your fighting skills and defends itself by foreseeing them beforehand, giving you a much more challenging environment to play in, underlining why AI is used in games. However, AI in the gaming industry had existed even before the gaming industry gained its recognition. It was in the 1950s when the MiniMax algorithm was used to develop the chess game; it was the first example of how artificial intelligence is used in gaming. This algorithm worked on choosing the best possible move based on the contemporary board setting. ‘Donkey Kong’ was another example that used AI to enhance players’ difficulty levels. Nevertheless, the use of AI in the gaming industry was still underdeveloped back then since the opponents repeated the same mistakes and were incapable of self-learning the gamer’s tactics. But things changed when AI gaming examples like GTA, Need for speed, etc., gave a new dimension to the gaming world. Today, with more advanced features and attributes, artificial intelligence in gaming has completely revolutionized the gaming experience. Advantages of AI in Gaming Here are a few advantages of AI in gaming: Stimulates interest Gaming is a pervasive recreational activity and a getaway from stressful and hectic life. After all, playing games helps in creating a sense of satisfaction and achievement. However, now the AI-based opponents are trained with a variety of styles and techniques, giving you a tough fight.  As a result, you start getting involved in strategy building and brainstorming new tactics to defeat the opponent, who is way too powerful for predictive and straightforward gameplay styles. Moreover, it gives a realistic approach to the game. Hence, artificial intelligence in the gaming industry is giving an open and challenging platform for enthusiastic gamers to play at their full potential, therefore, stimulating emotions. Developing smarter games A new range of smarter games across a variety of genres is giving rise with the help of Artificial Intelligence. AI-based Voice Intelligence is one of the significant uses of artificial intelligence in game development. Also, AI can assist in planning and building a strong framework of gameplay.  An excellent example of this would be, using the reinforcement learning technique of AI to make the game characters self-learn and function as per the designed surroundings. For instance, in ‘Assassin’s Creed’, the enemies self-learn the gamers attacking and defending strategies and attack back strategically when you as a player would be vulnerable or prone to damage. More realistic games The advancement of artificial intelligence and gaming has led to gameplays having interactive 3D visualizations and merging games with Augmented and Virtual Realities.  It gives a realistic feeling, especially when games follow the laws of physics. Moreover, such gameplay is not only visually appealing, but they also give the gamers a feeling of living in a parallel world where they have the freedom to do what they want. For example, ‘Grand Theft Auto’ is a widely popular game where the user experiences living in a whole new virtual city where you can roam, drive luxurious cars, go shopping, etc. Ways to Implement AI in Games Decision Trees Decision Trees are the primary AI methods for designing games. These supervised learning models are used to predict and classify outcomes. They predict the outcome of the desired action done by the user by following simple decision-making rules based on the data that it gets, unlike the Narrative-based games that use DTs to proceed with one among their various alternative narratives depending on the actions of the gamer.  With AI, it is easy to interpret results from Decision Trees (DTs) and display them with interactive visualizations. In AI-based gaming, for example, the game ‘Star Wars Jedi: Fallen Order’ uses DTs to display hints of the past and future outcomes of the protagonist, given the specific circumstances you are in. So, you can now make a reasonable choice among the available options and direct the gameplay’s narrative in the way you want. Neural Networks Neural Networks can model a reality-based world and create complex gaming scenarios. Moreover, they cover up the limitations of basic AI techniques, self-learn, and adapt to the constantly changing gaming environments.  The Neural Network algorithm interprets data in two ways. They are either manually trained through vast data and then launched in the game or learned in real-time during the gameplay through the live generated data. The latter helps in improving the gaming agents even while the game is played. They also help in controlling Non-Playable Characters (NPCs) and gaming environments. Reinforcement Learning This Machine Learning method functions based on trial and error. The model is trained by letting itself act on certain scenarios and self-learning based on good or bad outcomes from those actions. Then, the algorithm remembers the bad results and finds a way to avoid them in further steps. This technique is quite beneficial in designing Non-Playable Characters (NPCs) and enhancing their decision-making skills when they are put in new environments. Games are the primary targets for testing reinforcement training because this technique has been in practice for a long time. Many computer

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The Ultimate Guide to AIOps: The Future of IT Operations

The modern world is gearing up for the Fourth Industrial Revolution, with smart devices in its hands and rocket-fast data processing capabilities empowering business operations. Amidst the trends, automation and digitization emerge as the two major agendas that exist on the majority of business portfolios.  More than 80% of business organizations are going to increase their spending on automation. And recent market studies predict that the digital process automation market will hit the 16.12 bn USD mark by 2026, demonstrating a CAGR of 12.98%.  As the automation needs in modern workplaces are reaching new heights and IT operations are looking for smarter, more intuitive, and reliable ways to automate and digitize routine tasks, people are turning to AI. And promising to fulfill such a diverse set of process automation requirements in IT is AIOps.  Coined by Gartner in 2016, AIOps stands for Artificial Intelligence for IT Operations and combines ML and big data for process automation in IT operations, such as causality determination, anomaly detection, event correlation, etc. In upcoming sections, you can learn about AIOps in detail, why and how you should consider them for your business, and major ways AIOps will change the face of IT operations in 2022.  What is AIOps? AIOps is an industry category that uses AI and ML analytics for automating, streamlining, and enhancing IT operations analytics. AIOps provides a real-time understanding of any type of underlying issues in the IT organizations and real-time insights into various processes. It also offers predictive business intelligence in various forms and across a wide range of business processes because of its smart analytics capabilities.  Increasing complexities of IT systems, organizational data growing at an extreme pace, and frequent industry disruptions, such as remote work, new trends in technology, rapidly changing markets, etc., have fuelled the demand for AIOps.  Why AIOps: Exploring the Need for Futuristic IT Ops Tech AIOps software not only empowers the organizations to manage the heaps of data they generate, but it will also help in harnessing the true power of this data via analytics. You can identify any hidden patterns for growth, cost efficiency, redundancy, productivity, etc., and gather actionable insights from them. Apart from the data insights derived from historical organizational data, you can also use predictive analytics to have futuristic insights into various segments that are reliable and data-driven. But then again, mere insights cannot solve the massive automation and digital transformation needs; right? Hence, AIOps also caters to the team collaboration needs and provides inferences drawn from the data insights, such as: Finally, AIOps aids in automating the response and remediation in various instances, to facilitate precise and quick process automation across your business model.  The following image shows some of the core functionalities of AIOps, as discussed above: Now that we have had an overview, let us move on to discuss some key use cases of AIOps. AIOps: Key Use Cases While there can be n number of business use cases for AIOps, we are discussing the top 5 core use cases that target the key problem areas when it comes to operations, processes and automation.  1.  Big Data Management While big data is a powerful technology to manage, process and make sense of the tons of organizational data that is generated, managing the volume, variety, velocity and efficiency of big data usage is also a challenge. As more and more firms are using big data analytics, getting the best value out of these efforts is also a must.  Hence, proper management of big data is one of the most crucial use cases of AIOps.  2.  Performance Analysis Organizational performance analysis is an extremely daunting task as it requires micro-monitoring apart from micro-management. Now, you might think that using time tracking and employee tracking software can do the job to a greater extent. However, when it comes to getting granular insights about the results, driven by individual employee performance, this software crumbles down.  Having impeccably smart capabilities stemming from AI, ML, NLP, etc., AIOps is your eye to the nitty-gritty details related to performance analysis in any department and for any number of employees.  It can rapidly gather and process the vast amount of event logs and data to drill down to the root cause of factors that are obstructing the overall productivity of your organization. 3.  IT Service Management IT Service Management or ITSM refers to designing, building, supporting, delivering, and managing IT services in an organization. All the processes, policies, and procedures that facilitate the delivery of IT services to the end-users in an organization also come under ITSM.  AIOps uses artificial intelligence to discover any underlying issues in ITSM and helps fix them quickly, thereby improving the efficiency across all the departments. AIOPs also find usage in data monitoring and infrastructure process management. It can make more accurate predictions for planning capacity, allowing you to maximize your resource and inventory space utilization. You can also identify, predict, analyze and prevent any underlying IT service issues. 4.  Event Correlation and Analysis When it comes to event storms, most of the traditional analytics software fails because they lack the ability to provide insights into these storms.  For example, suppose your event correlation report suggests a delay in project delivery for 2 of your crucial clients, as a designer has given a notice period and you still have not hired a new designer. Now, even if you “know” what is going to happen, there is no suggestion or insight to rely upon.  AIOps, on the other hand, can help you make the best decision for remedying the situation by grouping similar events. So, you can either get an insight about a solution that came to your rescue in such a situation sometime earlier, say a few months, or you can get to know which one is the best option – outsourcing, a quick hire, or assigning the work to other designers in the company.  So, AIOps reduces the burden of the IT teams when it comes to managing organizational events and offers

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Artificial Intelligence in Oil and Gas Industry: Remarkable Transformation

Using AI or artificial intelligence in oil and gas industry helps analyze historical and real-time data, run analytics, plan and schedule production, optimize the supply chain, and use resources to increase returns. Let’s learn more about how artificial intelligence impacts the oil and gas industry operations.  The oil and gas industry falls among the prominent industries in the global market. As enterprises and companies from other sectors adopt new technology, it’s noteworthy to mention that the oil and gas industry is not lagging behind. Artificial intelligence is playing an important role in streamlining the on-field and off-field activities in the oil and gas industry.  Whether it is using AI tools for oil production, transportation, or improving the safety standards at work, artificial intelligence and machine learning are helping companies solve challenges in various areas.  The Middle East produces one-third of the world’s oil and is among the biggest suppliers of fossil fuels. This is because the largest oil reserves are found in the Middle East, thanks to the geographic changes that occurred over the centuries. Most of the oil-producing states in the Middle East come under the Organization of the Petroleum Exporting Countries (OPEC).  Statistics show that around 39% of the crude oil produced by OPEC countries comes only from the Middle East region. In fact, Saudi Arabia is the largest producer, with more than 12.2 barrels of production per day. Moreover, the Middle East region accounts for 48% of proved oil reserves, 40% of proved gas reserves, and 18% of the global gas production.  What role do AI and ML have in the oil and gas industry, especially in the Middle East? How can the global oil and gas companies use artificial intelligence applications to revamp their systems and increase returns? Let’s read to know the answer.  How is Artificial Intelligence Used in the Oil And Gas Industry? Managing capital and investments, attracting shareholders, and increasing operational efficiency are some crucial aspects to consider. The role of artificial intelligence is to help oil and gas companies overcome their problems with exploration, production, processing, logistics, and to streamline backend (or office end) services. In short, AI is used in just about every stage in the energy and utilities industry.  Exploring and Producing  AI is used to forecast the reserve volumes that can be recovered, analyze the reservoir data, help create well-developed plans on the field, choose production models based on advanced analytics, and make decisions based on market trends and changes.  Drilling and Refining  From designing to execution of drilling, artificial intelligence helps oil and gas companies to find ways that optimize the returns. Risk prediction, daily, monthly, and lifetime production forecasting, detecting defects and anomalies, etc., are done using AI and ML systems.  On-Field Equipment & Services  Artificial intelligence assists the on-field managers and workers in scheduling drilling activities and optimizing fleet management and supply chain. Equipment maintenance, improving workplace safety, and forecasting consumer demands are done through the latest AI systems and tools.  Office Software  AI plays a role in many areas beyond the ones where major action occurs. The backend and corporate offices also use AI and ML to empower employees with automated software to increase productivity. The top management makes decisions based on the reports generated through AI applications.  How Will Artificial Intelligence Impact Upstream Oil and Gas? Globally, the oil and gas AI market is valued at $2 billion in 2019. Statistics show that it is estimated to touch $3.81 by 2025 at a CAGR (Compound Annual Growth Rate) of 10.96%. Machine Learning and artificial intelligence in the oil and gas industry are being used for data interpretation and analytics to help forecast future trends, discover new reserves, and increase production in existing reserves.  While AI, IoT (Internet of Things), and cloud-based technology are gaining acceptance in the oil and gas sector, the lack of professional expertise is slowing down the adoption rate. The oil and gas companies have to hire AI professionals or train their senior employees to use AI and ML tools as a part of their day-to-day work.  Generally speaking, the focus of global oil and gas companies is on simplifying and streamlining the exploration and production processes using AI. Digitalization, automation, and data analytics can help companies improve their operations while aligning their goals to the market trends.  The Growing Role of Artificial Intelligence in Oil and Gas Industry The Oil and Gas Authority (OGA) has begun using artificial intelligence in 2019, thanks to the National Data Repository (NDR) in the UK. The pandemic has caused a slump in the industry in 2020 (oil prices decreased by about 50% during the lockdown). However, many companies have been actively investing in artificial intelligence to:  It’s no surprise that early adopters have the advantage of protecting their assets and attracting more investors. The early adoption of artificial intelligence in the oil and gas industry is delivering similar results as with other industries, i.e., empowering the companies to retain their market positions and expand their share by gaining a competitive edge over others.  Applications of Artificial Intelligence in Oil and Gas Development Geological Assessment  Geological assessment is also known as surface analysis, where AI robots can detect oil seeps and reserves deep inside the earth or the ocean. The Wadia Institute of Himalayan Geology (WIHG) came out with a new AI technique in 2020. This technique helps analyze data from semantic waves and helps discover the presence of hydrocarbons (like oil and gas) with minimum effort and in quick time. AI tools analyze and assess geophysical data to increase accuracy in mapping the natural oil deposits.  Tracking Assets  Asset tracking and management include project planning, managing the product lifecycle, and aligning the process to match the market demands. Digital twin technology is being used by the oil and gas companies to deal with the uncertainties in the market (especially due to the pandemic) and to add more flexibility to their system and approach to work.  Automating Equipment Maintenance A vital role of artificial intelligence applications in the oil and gas industry is to reduce

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Mixed Reality and AI for Safer Surgeries

Mixed reality and AI can help make surgeries safer by assisting surgeons during the process. From providing 3D imaging to handling instruments, AI is a vital part of the operating room. Here, we discuss what mixed reality means and how AI is taking surgeries to the next level. Artificial intelligence, machine learning, and computer vision are becoming an essential part of the healthcare industry. AI is helping doctors, nurses, and the hospital administration streamline patients’ records, accurately diagnose the medical condition, and provide better treatment. The COVID-19 pandemic has increased the focus and adaptation of remote patient care and telemedicine to ensure that patients don’t suffer due to lockdowns. Doctors increasingly rely on AI-based technology and tools to provide patients with quality healthcare. Technology like augmented reality (AR), virtual reality (VR), and mixed reality (MR) are being used in hospitals to assist doctors and train medical students. These are designed to assist doctors during surgeries to make the process safer and increase the success rate. The market size value of AI in healthcare is $10.4 billion in 2021 and is estimated to reach $120.2 billion by 2028 at a CAGR (Compound Annual Growth Rate) of 48 percent. North America has shown the highest adoption rate of AI in healthcare at 58.9 percent in 2020. The same report suggests that the use of AI in the healthcare industry will grow rapidly in the Asia Pacific during the forecast period. What is Mixed Reality? Mixed reality is a combination of virtual reality and human vision. The AR filters used in mobile apps such as Instagram, Snapchat, etc., are a simple example of mixed reality solutions. Surgeries require a lot of planning, practice, and precision. Doctors cannot afford to get distracted or lose focus when operating on a person. The use of AI in surgery aims to support doctors and supply them with the necessary information and surgical tools without disturbing them at any point. Mixed reality makes it possible to use technology to assist doctors during surgeries and minimize risks. Paul Milgram and Fumio Kishino first introduced the term mixed reality in 1994 in their paper titled A Taxonomy of Mixed Reality Visual Displays. MR combines computer vision, cloud computing, graphical processing, etc., to blend the physical and virtual worlds. Many companies have been developing MR applications that can be used in various industries. MR and Healthcare MR in healthcare can be explained using a head-mounted device that gives doctors a clear and better picture of the patient’s data chart and related images. The images of the affected area where the surgery has to be performed can be displayed directly on the patient. This increases accuracy and makes it easy for surgeons to be as precise as possible. MR devices are also changing the interaction method between doctors and patients. Data is more easily accessible and is used to understand the patient’s condition in-depth. Microsoft’s HoloLens is a prime example of MR Headgear that creates realistic images and holograms to help medical students understand human anatomy. Medical schools have begun investing in MR devices to empower their students. Mohammad Abdul Mukit, an MS student in electrical and computer engineering, a graduate fellow and research assistant at the University of Oklahoma, and Dr. Christian El Amm, a plastic and reconstructive surgeon, have collaborated to create an AI-based device (that accepts voice commands) to increase safety and efficiency during surgical reconstructions. SentiAr, a digital health company, has developed a holographic AR platform to provide surgeons with 3D images of a specific anatomy and data visualizations of the patient’s medical chart. The adoption of MR in the healthcare industry is still in its early stages. Technology can bring many more positive changes to improve healthcare facilities and surgical procedures. Use of Mixed Reality in the Healthcare Industry  Mixed reality can help doctors, nurses, and healthcare professionals in several ways. From providing real-time information to developing realistic 3D images, here’s what MR can do. Resource Optimization Mixed reality reduces the dependence on nurses and medical assistants. Data is automatically collected, processed, and projected as images and charts whenever the doctor requires it. This saves resources and reduces expenditure without compromising the quality of healthcare services. Real-Time Data Access The mixed reality headsets can provide data in real-time to surgeons. For example, if a surgeon wants crucial data about the patient during an emergency, the MR device can immediately pull it up from the database it is connected to and display it for the surgeon. AI works in the backend to make this possible. Live Streaming Surgeries  The MR devices can record and live stream surgeries without interrupting the process. These videos are used to train medical students to become proficient at surgeries. It also helps doctors rewind and replay complex surgical steps and explain the processes clearly to the students. Remote Patient Care  Patients can continue to be under home care and still get excellent treatment from their doctors. The latest data is updated to the systems to help doctors understand the patients’ current condition and prescribe medication accordingly. AI has made it possible to deliver quality patient care remotely during the pandemic. Natural 3D Imaging  Mixed reality is known for creating realistic 3D images with depth and layers of detail. This feature is very useful when surgeons want to know how deep the infection is or when to stop the incision. Natural 3D imaging increases accuracy and precision in surgeries. Virtual Surgery Intelligence  This is used to educate patients about what happens during the surgery. Being aware of the procedure will give patients more confidence and prevent them from being stressed or worried about the results. Remote Assistance in Surgeries  MR headsets like Hololens come with microphones and sensors. Surgeons can directly interact with other experts and take their advice during a complicated, high-risk surgery. Experts can provide remote assistance to surgeons in the operation theater. Simplified Data Sharing  Critical medical information is stored in a unified format and can be shared with the physicians without any delay. Doctors

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How a Perfect AI Strategy can Help Your Business – 25 Industry Experts Share Their Pro Tips

A comprehensive artificial intelligence business strategy can boost business and make the enterprise an industry leader. Let’s look at the round-up of pro tips shared by leaders in the AI industry. The current market scenario is proof that businesses need to adopt the latest technology to survive the competitive markets. Artificial intelligence has become a necessary step in digitally transforming the business and creating new growth opportunities.  However, the success of an enterprise depends on how well it plans and implements the AI strategy within the business. Wouldn’t it be helpful to have pro tips and advice from experts who’ve been in the industry for years?  This round-up post contains the top tips from twenty-five AI experts known for their domain expertise in various subfields of artificial intelligence.  Worth noting strategies by 25 AI Experts Bernard Marr Internationally Best-selling Author | Business, Tech and Data Advisor A separate AI strategy is essential even if a business has a data strategy.  AI-enabled services are a better option for small businesses instead of customization. Don’t ignore change management challenges and HR issues. Managing company culture is a must.  Allie K. Miller ML Business Development Global Head, AWS  Start with the pain point and expected outcome.  Add a buffer amount to the budget and work with it. Focus on edge cases and minimize data noise. Don’t expect perfection the first time.   AI should be integrated within business workflow. Ankush Sharma CEO & Co-Founder, DataToBiz Start at the beginning and understand the requirements and challenges for AI adoption. Get feedback from customers and make necessary changes to the system.  The AI business strategy needs to be constantly evaluated and edited to fine-tune the systems. Dennis R. Mortensen CEO and Founder, x.ai AI should make users more capable while sounding as human as possible when interacting with customers. Automation is the primary goal of using vertical AI agents in the enterprise.  Bots and virtual assistants can increase the worth of the employee and the business.  Gregory Piatetsky-Shapiro Founder and President, KDnuggets | Data Scientist  Data scientists should stop overfitting the data, which defeats the purpose of using the algorithm. Identifying the right problems to tackle within the business is essential for AI implementation to be successful. AI will keep evolving, and data scientists and analysts need to learn and upgrade their domain knowledge.  Tamara McCleary CEO, Thulium  AI uses reactive and proactive user experience to provide real-time data analytics for marketers. The insights require a huge volume of accurate data to be fed to the algorithms.  Issues with business scalability can be solved using AI to structure the business model accordingly.  Marketing is much more than human-to-human interaction, and it’s necessary to seamlessly use algorithms, bots, and humans to get the desired results.  Andrew Ng Founder and CEO, Landing AI | Founder, deeplearning.ai No need to invest heavily in AI projects in the first stage. Bet on safer and smaller AI technologies that guarantee results. Businesses already have valuable data sitting in their systems. They only need an AI team to work on it.  Building AI systems is similar to building a rocket ship. It won’t take off unless the elements are in the right proportion. Ronald Van Loon Principal Analyst and CEO, Intelligent World AI works in combination with IoT (Internet of Things), Big Data, Augmented Reality (AR), and cloud computing to deliver results.  Align and organize data around the data layers for accurate insights. Move on from older data storage systems. Start by using ML solutions that are already integrated into the systems. New models can be developed later.  Kirk Borne Chief Science Officer, DataPrime Hire a group of data analysts to decide which AI and ML systems to use. Don’t rely on the judgment of one person. Cloud-based infrastructure will reduce analytical costs for the enterprise.  It will take time to make the most out of AI systems. Even the leading companies have a lot more to do. Andriy Burkov Director of Data Science, Gartner | Author Testing and perfecting an ML model takes months and years. Hire more ML engineers to speed up the process. Machine learning doesn’t mean the machine is learning. It only provides the necessary numbers at a great speed.  Implementation errors in ML can be impossible to find unless various baseline models are implemented which beat the new model and show the error. Hilary Mason Co-Founder, Hidden Door Focus on ‘boring’ business problems to know how much AI can help find an easy solution.  AI should be used to overcome challenges rather than as a prestigious investment for the enterprise.  The spend-first-plan-later approach by businesses will lead to a higher risk of AI failure.  Steve Nouri Chief Data Scientist and Co-Founder, iN2iTY Lab | Founder, AI4Diversity Chatbots and virtual assistants empower employees with self-servicing and increase customer experience.  Messy datasets are the ones that deliver results. Businesses should train their data analysts to work on similar sets.  The data-centric approach is a great way to train AI systems to be more accurate in their predictions.  Kristen Kehrer Founder, Data Moves Me | Senior Manager, Engagys LLC Data literacy training is compulsory for employees to ask the algorithms the right questions.  It should be continuous, individualized, and asynchronous.  Enriching the data in the enterprise will make it easier to build an ML model. Randy Olson Senior AI Scientist, Absci | Data Science and Machine Learning Advisor, FOXO Technologies Choosing the right machine learning model is the responsibility of humans.  GUI-based data visualization tools have become more popular over the last few years and deliver better reports.  ML algorithms can be used to analyze most types of data.  Ganapathi Pulipaka Chief Data Scientist and SAP Technical Lead, Accenture Chatbots, virtual assistants, and tellers are a great way to manage customer service in various industries like banking, retail, etc. Drones can be effectively used for smart services and linked with IoT to share real-time information.  Smart services are the way to drive the economy for an enterprise. That’s possible with AI technology.  Mark van

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