Growing businesses are required to stay updated with the latest technology and industry trends. This being said, business leaders always need to have a keen eye for the upcoming trends and technologies that might impact their results and workflow in a positive way.
Today, we have way too many applications and tools – making it a herculean task to predict which ones might have a long-term success. Despite that researchers have termed a few that might rule the future.
Python
Python, the foundational language for Artificial Intelligence, is a basic necessity in case a person wants to dive deeper into the subject. The first step towards AI is by learning Python; it is both stable and flexible. As its widely used for machine learning applications, it has become one of the most preferred choices across the globe.
Most developers rely on Python libraries and frameworks as it has a set of pre-written codes that help to solve several programming problems. A few of the libraries and frameworks are –
- SciPy – advanced computing
- Keras – machine learning and deep learning models
- Scikit-learn – data modeling
- NumPy – data cleaning and data manipulation
- Seaborn – data visualization
- Caffe – image processing
- Pandas – general usage for analysis of data
- PyTorch – training deep learning models
- OpenCV – image processing
Data Science
In simple terms, data science is a combination of programming, mathematics, machine learning, and data analysis. Using advanced algorithms and scientific methods, one can extract information and insights from huge datasets, be it structured or unstructured.
In today’s world, it is used across several industries including finance, education, business and healthcare.
With time, data is said to multiply multifold, adding to the already existing massive pile of data. It would be impossible for data scientists to use traditional tools to analyze piles of unstructured datasets; they require advanced intelligent analytical tools to store, process and analyze data. This is where data science comes handly.
Machine Learning
Machine learning is an application of AI which allows software applications to excel in predictions. It focusses on developing algorithms and computer programs with the aim to enable computers to learn without human intervention.
Along with AI, machine learning is revolutionizing the way business development teams focus and understand their clients. Starting from trends to predictive analysis and beying, accessing intelligent data results in powerful insights about every aspect of the market.
There are 3 types of machine learning algorithm –
- Supervised Machine Learning Algorithms
- Unsupervised Machine Learning Algorithms
- Reinforcement Machine Learning Algorithms
Artificial Intelligence
AI is something that you can find on the tip of everyone’s tongues nowadays. Though we all have been aware of this major trend for a while, we might have also noticed people get paranoid about robots taking over the world.
It’s hard not to notice the lingering fear about loss of jobs/tasks owing to advancement in technology. Though we are already witnessing the impact on jobs like factory workers, radiologists, accountants, truckers, and paralegal staff, it is safe to say that we can take a deep breath knowing that we are still far from “Terminator”.
Researchers predict that within the next 5 years millions of jobs will be displaced, but at the same time, we’ll also see an increase in about 58 million new job roles in the field of AI.
In reality, we seldom notice that AI has already integrated itself into our daily lives. Starting from our search results to our dating prospects, and to our shopping interests, AI witnesses everything. Researchers state that the use of AI in businesses has grown exponentially by about 270% in the last four years alone.
