Getting started with AI & ML- 10 plus use cases

June 22, 2022

                

Artificial Intelligence (AI) and Machine Learning (ML) are the two most used terms amongst the organizations in the tech industry today. The reason being their vast use among diverse industries for cost-cutting automation, reliability, security, and faster decision-making capacity.

But have you ever wondered what it takes to develop and master the abilities necessary for AI and ML after hearing so much about them every day?

In this blog, we'll show you how to achieve just that, as well as some current AI and machine learning use cases that may seize your attention and interest in such technologies.

#1 Learn how to program.

Initially to get started with AI and ML you should pick a programming language. R and Python, for example, are two languages created expressly for machine learning. You can do it in other languages as well, but Python makes it more easy and simple and also has the greatest machine learning and artificial intelligence modules and support. If you secure a job in this industry, you'll almost certainly be utilizing Python for the majority of your work. Python is fantastic since it can be used for more than only machine learning, and it is arguably one of the easiest languages to learn and use as a beginner.

#2 Comprehend Mathematics.

Once you have mastered a programming language, the second essential skill to gain towards being a master in AI and ML is learning Mathematics. Math is at the heart of machine learning, which aids in the development of an algorithm that can learn from data and generate an accurate prediction. A thorough understanding of the arithmetic fundamentals behind any central machine learning algorithm is critical. In this way, it assists you in selecting all of the appropriate algorithms for your data science and machine learning project. Machine learning is mostly based on mathematical preconditions, thus you'll find it more intriguing if you understand why math is utilized. You'll see why to choose one machine learning algorithm over another and how it affects the model's performance.

#3 Build Algorithmic Knowledge.

You may now go right into working with some of the fundamental algorithms to understand how things function and advance in the correct sequence after you've learned the necessary programming and mathematics. Linear regression, logistic regression, KNN, SVM, and other algorithms may be used. You can move into any field of machine learning once you've gone through these algorithms and understand how they function.

If all the stuff above sounds boring to you then maybe a few examples or use cases of AI and ML might intrigue you enough to put the effort into learning or mastering these skills.

#1 Cybersecurity

When we have a lot of data, whether in the cloud or on the endpoint, AI and machine learning perform exceptionally well, especially when combined with big data and analytics. The most appropriate application of AI would be in processing large amounts of data and in AI Cybersecurity, which would perform massive operations to identify anomalies, unusual or suspicious actions, detect and correct security flaws, strange activity, and zero-day attacks. AI and machine learning might be highly useful in spotting more complicated issues faster and more correctly than a human analyst. In the unfortunate event of an attack, AI and ML make systems ready for an automated reaction for minimizing the effects, conducting forensics, and successfully defending.

#2 Securing Personal Information

Personal information security is an ongoing problem in today's culture. People readily and voluntarily share their personal information in the digital world, whether they are ordering things online or signing up for regular news updates from news sites. Artificial intelligence (AI) and Machine Learning (ML) methods can reduce the likelihood of security breaches. They have the ability to make email platforms, and banking transactions more secure. They provide built-in threat protection for apps and also inform users about how websites handle their data. Thus providing complete security to the personal data of users.

#3 Trading

Artificial Intelligence (AI) and Machine Learning (ML) have the potential to tackle large-scale trade difficulties. These scenarios or issues almost often include optimization, analysis, or forecasting. In the trading world, machine learning and artificial intelligence are used in a variety of ways. Including the search for effective algorithmic trading strategies, historical data-based stock price prediction, and increasing the number of marketplaces that an individual must watch and respond to.

#4 Fraud Detection

Things that people used to buy in stores are now acquired online, whether it's furniture, food, or clothing. But this almost certainly prompts criminals to use the Internet to track down victims' wallets. More advanced and reliable fraud detection systems are available thanks to AI and ML algorithms' capacity to learn from previous fraud trends and spot them in future transactions. When it comes to the speed with which information is processed, machine learning algorithms appear to be more effective than people. In addition, machine learning algorithms may detect complex fraud qualities that a person cannot.

#5 Recommender Systems

To Demonstrate your understanding of your consumers to gain their trust and loyalty, the consumer data is fed to AI and ML recommender algorithms.  Then by using this data AI and ML provide personalized suggestions that are tailored to each customer's interests and preferences across all of their touchpoints. This increases consumer interaction resulting in increased sales and profits. 

#6 Healthcare

When compared to AI and ML, all traditional medical techniques, such as traditional analytics or clinical decision-making tools, have a number of drawbacks. As learning algorithms interact with this data on a regular basis, they may become more precise and accurate, providing individuals with unmatched insights into diagnosis, care processes, treatment variations, and patient outcomes. AI and ML in healthcare have the potential to improve patient health outcomes by improving preventative care and quality of life, as well as allowing for more precise diagnosis and treatment.

#7 Food Industry

Industrial automation is the appropriate solution for addressing the difficulties in the food business. Automation relies on artificial intelligence (AI) and machine learning (ML) techniques. By using an AI-based system, food manufacturing and distribution activities may be managed more efficiently and effectively. Product categorization and packaging, demand-supply chain management, revenue prediction, and self-ordering systems are just a few of the AI and ML use cases in the food sector.

#8 Logistics

The combined influence of AI and machine learning on various parts of logistics has propelled the sector to new heights. A good logistical chain necessitates a significant investment of cash, as well as the involvement of various middlemen and enterprises to speed up the process, which is where AI comes in. This is due to one of artificial intelligence's most distinguishing characteristics: its ability to reason and take actions that have the highest chance of attaining a certain objective. This partnership has several advantages, including cost, speed, safety, and convenience, to mention a few.

#9 Claim Litigation

With AI-powered judges, AI robot attorneys, and AI-powered features for contract or team management systems, AI and ML have made their way into the day-to-day work of lawyers and are revolutionizing the legal profession. The most promising feature of using AI and ML in the claims industry is the ability to automate simple and repetitive operations like legal bill review while allowing human specialists to improve outcomes beyond what machines or humans could achieve alone.

#10 Marketing

Advanced AI and ML-enabled features have opened up new marketing and narrative possibilities. AI is at the heart of a new era of marketing that focuses on achieving greater degrees of customization and targeting while remaining contextual. The focus has switched from mass advertising to a more micro-targeted approach thanks to AI and machine learning. Marketers who incorporate machine learning algorithms into their marketing processes can achieve outstanding results. There are wonderful possibilities that come with huge challenges. As customer expectations increase, marketers have the chance to deliver personalization and relevance on a large scale. This may be accomplished through customized campaigns that are based on real-time client intent. Also, AI and ML can help make marketing campaigns more relevant.

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October 4, 2022

Impact of the Strong Dollar: Cloud Costs Increasing, Be Indian Buy Indian

Indian SMEs and startups are feeling the effects of the high dollar. These businesses use hyperscalers(MNC Cloud) who cannot modify their rates to account for the changing exchange rate. For certain companies, even a little shift in the currency rate may have a significant effect on their bottom line. Did you know, when the INR-USD exchange rate moved from 60 to 70 in December 2015, it had an impact of around 20% on Digital Innovation?

As the rupee is inching closer to 82 per dollar, the strong dollar has directly impacted the costs of cloud services for Indian businesses. The high cost of storage and computing power, along with bandwidth charges from overseas vendors, has led to a huge increase in the effective rate of these services. This is especially true for startups and SMEs that rely on cloud computing to store and process user data. With the strong dollar continuing to impact the cost of cloud services, it is essential for Indian companies to evaluate their options and adopt local alternatives wherever possible. This blog post will discuss how the strong dollar impacts cloud costs, as well as potential Indian alternatives you can explore in response to this global economic trend. 

What is a Strong Dollar?

A strong US dollar($) is a term used to describe a situation where a US’s currency has appreciated in value compared to other major currencies. This can be due to a variety of factors, including interest rate changes, a country’s current account deficit, and investor sentiment. When a currency appreciates, it means that it is worth more. A strong dollar makes imports more expensive, while making exports cheaper. Strong dollars have been a growing trend in the past couple of years. As the US Federal Reserve continues to hike interest rates, the dollar strengthens further. The rising value of the dollar means that the cost of cloud services, especially from hyperscalers based in the US, will rise as well. 

Increase in Cloud Costs Due to Strong Dollar

Cloud services are essential for modern businesses, as they provide easy access to software, storage, and computing resources. Cloud services are delivered over the internet and are typically charged on a per-use basis. This makes them incredibly convenient for businesses, as they can pay for only the resources they actually use. Cloud computing allows businesses to scale their resources up or down, depending on their current business needs. This makes it suitable for startups, where demand is uncertain, or large enterprises with global operations. Cloud computing is also inherently scalable and allows businesses to quickly react to changing business needs. Cloud computing is a very competitive industry and providers offer attractive prices to attract customers. However, these prices have been impacted by the strong dollar. The dollar has strengthened by 15-20% against the Indian rupee in the last few years. As a result, the costs of services such as storage and bandwidth have increased for Indian companies. Vendors charge their Indian customers in Indian rupees, taking into account the exchange rate. This has resulted in a significant rise in the costs of these services for Indian companies.

Why are Cloud Services Becoming More Expensive?

Cloud services are priced in US dollars. When the dollar is strong, the effective price of services will be higher in Indian rupees, as the cost is not re-adjusted. There are a couple of reasons for this price discrepancy. First, Indian customers will have to pay the same prices as American customers, despite a weaker Indian rupee. Second, vendors have to ensure that they make a profit.

Possible Indian Alternatives to Cloud Services

If you're looking for a cost-effective substitute for services provided by the U.S.-based suppliers, consider E2E Cloud, an Indian cloud service provider. When it comes to cloud services, E2E Cloud provides everything that startups and SMEs could possibly need.

The table below lists some of these services and compares their cost against their US equivalents. 

According to the data in the table above, Indian E2E Cloud Services are much cheaper than their American equivalents. The difference in price between some of these options is substantial. When compared to the prices charged by suppliers in the United States, E2E Cloud's bandwidth costs are surprisingly low. Although not all E2E Cloud services will be noticeably less expensive. Using Indian services, however, has an additional, crucial perk: data sovereignty.

Conclusion

The price of cloud services will rise as the US Dollar appreciates. Indian businesses will need to find ways to counteract the strong dollar's impact on their bottom lines. To do this, one must use E2E Cloud. The availability of E2E Cloud services in INR currency is a bonus on top of the already substantial cost savings. An effective protection against the negative effects of a strong dollar.

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September 28, 2022

Actions CEOs can take to get the value in Cloud Computing

It is not a new thing to say that a major transition is on the way. The transition in which businesses will rely heavily on cloud infrastructure rather than having their own physical IT structure. All of this is due to the cost savings and increased productivity that cloud technology brings to these businesses. Each technological advancement comes with a certain level of risk. Which must be handled carefully in order to ensure the long-term viability of the technology and the benefits it provides.

And CEOs are the primary motivators and decision-makers in any major shift or technological migration in the organization. In the twenty-first century, which is a data-driven century, it is up to the company's leader to decide what and how his/her organization will perform, overcome the risk and succeed in the coming days.

In this blog, we are going to address a few of the actions that CEOs can take to get value in cloud Computing.

  1. A Coordinated Effort

As the saying goes, the more you avoid the risk, the closer it gets. So, if CEOs and their management teams have yet to take an active part or give the necessary attention that their migration journey to the cloud requires, now is the best time to start top-team support for the cloud enablement required to expedite digital strategy, digitalization of the organization, 

The CEO's position is critical because no one else can mediate between the many stakeholders involved, including the CIO, CTO, CFO, chief human-resources officer (CHRO), chief information security officer (CISO), and business-unit leaders.

The move to cloud computing is a collective-action challenge, requiring a coordinated effort throughout an organization's leadership staff. In other words, it's a question of orchestration, and only CEOs can wield the baton. To accelerate the transition to the cloud, CEOs should ask their CIO and CTO what assistance they require to guide the business on the path.

     2. Enhancing business interactions 

To achieve the speed and agility that cloud platforms offer, regular engagement is required between IT managers and their counterparts in business units and functions, particularly those who control products and competence areas. CEOs must encourage company executives to choose qualified decision-makers to serve as product owners for each business capability.

  1. Be Agile

If your organization wants to benefit from the cloud, your IT department, if it isn't already, must become more agile. This entails more than simply transitioning development teams to agile product models. Agile IT also entails bringing agility to your IT infrastructure and operations by transitioning infrastructure and security teams from reactive, "ticket-driven" operations to proactive models in which scrum teams create application programme interfaces (APIs) that service businesses and developers can consume.

  1. Recruiting new employees 

CIOs and CTOs are currently in the lead due to their outstanding efforts in the aftermath of the epidemic. The CEOs must ensure that these executives maintain their momentum while they conduct the cloud transformation. 

Also, Cloud technology necessitates the hire of a highly skilled team of engineers, who are few in number but extremely expensive. As a result, it is envisaged that the CHRO's normal hiring procedures will need to be adjusted in order to attract the proper expertise. Company CEOs may facilitate this by appropriate involvement since this will be critical in deciding the success of the cloud transition.

  1. Model of Business Sustainability 

Funding is a critical component of shifting to the cloud. You will be creating various changes in your sector, from changing the way you now do business to utilizing new infrastructure. As a result, you'll have to spend on infrastructure, tools, and technologies. As CEO, you must develop a business strategy that ensures that every investment provides a satisfactory return on investment for your company. Then, evaluate your investments in order to optimise business development and value.

  1. Taking risks into consideration 

Risk is inherent in all aspects of corporate technology. Companies must be aware of the risks associated with cloud adoption in order to reduce security, resilience, and compliance problems. This includes, among other things, engaging in comprehensive talks about the appropriate procedures for matching risk appetite with technological environment decisions. Getting the business to take the correct risk tone will necessitate special attention from the CEO.

It's easy to allow concerns about security, resilience, and compliance to stall a cloud operation. Instead of allowing risks to derail progress, CEOs should insist on a realistic risk appetite that represents the company plan, while situating cloud computing risks within the context of current on-premises computing risks and demanding choices for risk mitigation in the cloud.

Conclusion

In conclusion, the benefits of cloud computing may be obtained through a high-level approach. A smooth collaboration between the CEO, CIO, and CTO may transform a digital transformation journey into a profitable avenue for the company.

CEOs must consider long-term cloud computing strategy and ensure that the organization is provided with the funding and resources for cloud adoption. The right communication is critical in cloud migration: employees should get these communications from C-suite executives in order to build confidence and guarantee adherence to governance requirements. Simply installing the cloud will not provide value for a company. Higher-level executives (particularly the CEO) must take the lead in the digital transformation path.

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September 21, 2022

Top 12 skills a CEO should demand in a data scientist to hire in 2022

Two decades ago, data scientists didn’t exist. Sure, some people cleaned, organized and analyzed information — but the data science professionals we admire today stand at the head of a relatively new (and vaunted) career path.

It is certainly one of the most popular careers because it is in great demand and highly paid. With data being the primary fuel of industry and organization, company executives must now determine how to drive their company in this rapidly changing environment. Not only is a growth blueprint essential, but so are individuals who can put the blueprint into action. When most senior executives or human resource professionals think of data-driven employment, a data scientist is the first position that comes to mind.

In this blog, we will discuss the top 12 skills a CEO should demand if hiring a data scientist in 2022. 

  1. Problem-Solving and Critical Thinking

Finding a needle in a haystack is the goal of data science. You'll need a candidate who has a sharp problem-solving mind to figure out what goes where and why, and how it all works together. Thinking critically implies making well-informed, suitable judgments based on evidence and facts. That means leaving your own ideas at the door and putting your faith - within reason - in the evidence. 

Being objective in the analysis is more difficult than it appears at first. One is not born with the ability to think critically. It's a talent that, like any other, can be learned and mastered with time. Always look for a candidate who is prepared to ask questions and change his/her opinion, even if it means starting over.

  1. Teamwork 

If you go through job listings on sites like Indeed or LinkedIn, you'll notice one phrase that appears repeatedly: must work well in a team. Contrary to popular belief, most scientific communities, including those in data science, do not rely on a single exceptional mind to drive forward development. A team's cohesiveness and collaboration power are typically more significant than any one member's brilliance or originality. Your potential candidate will not contribute to success if s/he does not play well with others or believes that s/he does not require assistance from your colleagues. If anything, candidates' poisonous attitudes may cause stress, decreased levels of accomplishment, and failure on the team.

Harvard researchers revealed in 2015 that even "moderate" amounts of toxic employee conduct might increase attrition, lower employee morale, and reduce team effectiveness. Eighty percent of employees polled said they wasted time worrying about coworker incivility. Seventy-eight per cent claimed toxicity had reduced their dedication to their work, and 66 per cent said their performance had suffered as a result. The fact is that being a team player is significantly more productive and fulfilling than being a solo act. Look for a candidate with good cooperation abilities, and both you and your team will profit!

  1. Communication 

Capable data scientists must be able to communicate the conclusions they get from data. If your candidate lacks the ability to convert technical jargon into plain English, no matter how significant the results are, your audience will not grasp them. Communication is one of the most important skills a data scientist can learn — and one that many pros struggle with. 

One 2017 poll that tried to uncover the most common impediments that data scientists encountered at work discovered that the majority of them were non-technical. Among the top seven barriers were "explaining data science to others," "lack of management/financial support," and "results not utilised by decision-makers."

You fail if you can't communicate - therefore look for a candidate who knows how to interpret! And can break down complicated topics into digestible explanations; rather than giving a dry report.

  1. Business Intelligence 

Sure, a candidate can’t start teaching abstruse mathematical theory whenever you want — but can they explain how that theory can be applied to advance business? True, data scientists must have a strong grasp of their field as well as a solid foundation of technical abilities. However, if a candidate is required to use those abilities to advance a corporate purpose, they must also have some level of business acumen. Taking a few business classes will not only help them bridge the gap between their data scientist peers and business-minded bosses, but it will also help them advance the company's growth and their career as well. It may also assist them in better applying their technical talents to create useful strategic insights for your firm.

  1. Statistics and mathematics 

When it comes to the role of arithmetic in machine learning, perspectives are mixed. There is no disputing that college-level comprehension is necessary. Linear algebra and calculus should not sound like other languages. However, if you're looking for a candidate for an internship or a junior position, then they don't need to be a math guru. But if you are looking for a candidate to work as a researcher, then the candidate must have more than just a strong math background. After all, research propels the business ahead, and you won't be able to accomplish anything until you have a candidate with a thorough grasp of how things function.

The fact is that just because data science libraries enable data scientists to perform complex arithmetic without breaking a sweat doesn't mean they shouldn't be aware of what's going on behind the surface. Get a candidate with the fundamentals right.

  1. AI and Machine Learning 

Machine learning is an essential ability for any data scientist. It is used to create prediction models ranging from simple linear regression to cutting-edge picture synthesis using generative adversarial networks. When it comes to machine learning, there is a lot to look for in a potential candidate. Regression, decision trees, SVM, Naive Bayes, clustering, and other classic machine learning techniques (supervised and unsupervised) are available. Then there are neural networks, which include feed-forward, convolutional, recurrent, LSTM, GRU, and GAN. There's also reinforcement learning, but you get the idea - machine learning is a vast subject. 

  1. Skills in cloud and MLOps

To remain relevant to the industry's current demands, more than three out of five (61.7%) companies say they need data scientists with updated knowledge in cloud technologies, followed by MLOps (56.1%) and transformers (55%). Three out of every four professionals with ten or more years of experience are learning MLOps to expand their skill sets. Cloud technologies (71.7%) are being learned as a fundamental new talent by mid-career professionals with 3-6 years of experience, followed by MLOps (62.3%), transformers (60.4%), and others.

Professionals in retail, CPG, and e-commerce are more likely (73.7%) to learn cloud technology as a new skill. As much as 70% of BFSI personnel upskill in MLOps. Another 70% and 60% of pharma and health workers are interested in acquiring transformers and computer vision as fundamental skills.

So make sure you don't miss out on such a talent who can bring cloud and MLOps skills into your company. 

  1. Storytelling and Data Visualization 

Data visualisation is enjoyable. Of course, it depends on who you ask, but many people consider it the most gratifying aspect of data science and machine learning. Look for a candidate who is a visualisation specialist and understands how to show data based on business requirements, and also how to integrate visualisations so that they tell a story. It might be as easy as integrating a few plots in a PDF report or as sophisticated as creating an interactive dashboard suited to the client's requirements.

The data visualisation tools utilised are determined by the language. Plotly, which works with R, Python, and JavaScript, may be the best option if you need a candidate for searching for a cross-platform interactive solution. Consider Tableau and PowerBI when you need a candidate for viewing data using a BI tool. 

Figure: Use of Data Visualization tools. 

  1. Programming 

Without programming, there is no data science. How else would you give the computer instructions? All data scientists must be familiar with writing code, most likely in Python, R, or SQL these days. The breadth of what a candidate will perform with programming languages differs from that of traditional programming professions in that they’ll lean toward specific libraries for data analysis, visualisation, and machine learning. 

Still, thinking like a coder entails more than just understanding how to solve issues. If there is one thing that data science sees a lot of, it is issues that need to be solved. But nothing is worse than understanding how to fix an issue but failing to transform it into long-lasting, production-ready code.

Out of the host of programming languages, 90% CEOs hire data science specialists who are specialists in Python as their preference for statistical modelling. Beyond that, the use of SQL (68.4%) is highest in retail, CPG, and ecommerce, followed by IT at 62.9%. R is the most widely used programming language if you operate in the pharma and healthcare business, with three in five (60%) data scientists reporting using it for statistical modelling.

  1. Mining Social Media 

The process of extracting data from social media sites such as Facebook, Twitter, and Instagram is referred to as social media mining. Skilled data scientists may utilise this data to uncover relevant trends and extract insights that a company can then use to gain a better knowledge of its target audience's preferences and social media actions. You need data scientists well versed with this type of study as it is essential for building a high-level social media marketing plan for businesses. Given the importance of social media in day-to-day business and its long-term viability, hiring data scientists with social media data mining abilities is an excellent strategy for company growth.

  1. Data manipulation 

After collecting data from various sources, a data scientist will almost surely come across some shoddy data that has to be cleaned up. You need to hire a candidate that knows what Data wrangling is. How to use it for the rectification of data faults such as missing information, string formatting, and date formatting. 

  1. Deployment of a Model 

What is the use of a ship if it cannot float? Non-technical users should not be expected to connect to specialised virtual machines or Jupyter notebooks only to check how your model operates. As a result, the ability to deploy a model is frequently required for data scientist employment.

The easiest solution is to establish an API around your model and deploy it as any other application — hosted on a virtual machine operating in the cloud. Things get harder if you wish to deploy models to mobile, as mobile devices are inferior when it comes to hardware. 

If speed is critical, sending an API call and depending on an Internet connection isn't the best option. Consider distributing the model directly to the mobile app. Machine learning developers may not know how to design mobile apps, but they may examine lighter network topologies that will have reduced inference time on lower-end hardware.

Consider hiring a candidate who is well versed with all the things discussed above related to deploying a model. 

Conclusion

And there you have it: the top twelve talents skills a CEO must look for while hiring a data scientist. Keep in mind that skill levels or talents themselves may differ from one firm to the next. Some data science jobs are more focused on databases and programming, while others are more focused on arithmetic. Nonetheless, we believe that these 12 data science skills are essential for your potential candidate in 2022.

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