How Big Data and AI are Changing Business

In the past few years we have seen major advances on how we use and gather data, as well as the use of artificial intelligence. I choose to write about two different articles written by the same person, Terrence Mills, the CEO of two different tech companies that focus on AI pioneering. The central ideas of the two articles are how these advances in big data and AI have had a very positive impact on different types of businesses and why this important for the future. One of the main reasons the two function together is because AI is dependent on big data. Through different algorithms, businesses can gather and collect large amounts of data; these large amounts of inputs is what we refer to as big data. How we process this data is done through AI, these machines are designed to gather the information and find patterns in the data that help the businesses interpret the data.

The first article I choose to discuss explains what big data is and how it is beneficial for the society. One of the big focus points was how big data came about because the human mind is not able to process the amount of information that is gathered today. Mills states that through machine learning, we are able to solve problems without having to know how to solve it or know why the answer is what it is. I think this can be viewed as quite controversial because it almost says that there’s no reason to learn the basics because we can simply rely on a computer to do it all for us. However, this opens up room for changing the way we learn and can help us understand how computers do this and how we can improve them to be even more advanced.

The second article lists eight ways in which big data and AI are revolutionizing businesses across the globe. While I will not be discussing everything that is being changed, I believe the first two are things that should be noted. The first one discusses how there has been a high demand for people who are able to understand big data and interpret it. I think this is important because it is proving that these advancements are creating more jobs than they are replacing. The second discusses how big data is strengthening the marketing departments of businesses. By being able to gather all these large amounts of information and feedback from consumers, businesses are able to see the exact traits and tendencies of consumers and provide them with what they need or create what they need. As we continue to make improvements, we will see more efficiency in how businesses operate.

In conclusions I think the advancements in big data and AI are limitless because we are constantly improving how we use them. I think these advancements are going to change the way businesses function in a very positive way.

Sources

https://www.forbes.com/sites/forbestechcouncil/2018/07/31/eight-ways-big-data-and-ai-are-changing-the-business-world/#493fddb945b6
https://www.forbes.com/sites/forbestechcouncil/2019/01/07/why-big-data-and-machine-learning-are-important-in-our-society/#53c512f97aa2