Various kinds of tasks have been made easy with the use of Artificial Intelligence or the computer; activities that deal with mathematical calculations, statistics, and other finances have been made easy. When we talk about number crunching, you can be assured because your computer deals with all that for you with ease. Certainly, number crunching is not the only task your computer does for you; there are many others.
There are other things you do for yourself in a straightforward way, better than the computer, and this includes; planning, learning, and visual perception, amongst many others. But, in our world of today, smart machines capable of performing tasks that require human intelligence are now being built. Machines now think and work just like a human does. Check out my other blogs such as, “Cathie’s Stock Market Warning“.
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How do companies use machine learning?
Machine learning has to do with applying artificial intelligence to provide systems with the ability to improve from experience without being programmed automatically; the systems learn explicitly from experience. They focus on how to develop and build computer programs to access a wide range of data, and machine learning also ensures systems make use of what they learn for themselves as time goes on; this is commonly referred to as self-learning; human intervention is not needed. Machine learning includes image and speech recognition. An example of machine learning is the tracking of monetary funds online with little or no human intervention.
Let’s take PayPal for instance; they are using Machine learning for protection against money laundering. What do you think Google and search engines use to improve search results for you? They make use of machine learning. Let me give you one last example; one time or another, you must have shopped for a product online. A few days later, you keep receiving emails for more shopping suggestions, and the recommendations match with your taste. Do you think it is magic? No, it is Machine learning carrying out its function. The more data your system learns from, the more accurate its result will be at predictions.
Do Ways companies use Artificial intelligence?
There are two main ways through which companies use artificial intelligence, and I will be discussing that with you in detail.
Several companies use Artificial Intelligence to make massive profits by selling software, hardware, and services needed by the technology.
Companies use AI to benefit the services they render
There are so many companies out there who use AI to develop their existing service. High-profile application isn’t excluded; this includes; self-driving cars and smart voice assistants. Let’s take a look at Google, Amazon, and Netflix. Google is an Alphabet subsidiary (NASDAQ: GOOGL); you may be wondering what AI does for Google. Artificial Intelligence helps Google to recognize spam for Gmail users. We have Amazon, which uses AI to make product suggestions to its various customers (NASDAQ: AMZN). Lastly, we have Netflix (NASDAQ: NFLX), which uses Artificial Intelligence for content creation.
AI stocks to focus on?
Micron Technology (NASDAQ: MU)
The company manufactures memory chips for data centers and self-driving cars. They also manufacture dynamic random-access memory and flash memory found in solid-state drives. In the AI industry, the demand for memory chips will be increased rapidly. In 2018, the company predicted that a fully autonomous vehicle would require 74 GB of DRAM and 1 Terabyte of NAND. That is not all; they predicted that there would be 26 million vehicles equipped with level 3 autonomy by 2015.
Their prediction wasn’t wrong; today’s PC may have 16GB of RAM and 1 TB of NAND. Data centers controlling AI workloads need a vast memory. New iPhones perform all sorts of tasks when it comes to producing improved images. If you are interested in volatile stocks, micron technology isn’t a wrong choice for you to consider. AI will keep driving increased demand for memory chips, which makes the company a good buy.
NVIDIA (NASDAQ: NVDA)
This is a graphic chips leading company that have taken considerable advantage of the AI boom with its graphics cards becoming a de facto standard in data centers globally. The company’s data centers made nearly $1 billion of revenue in its latest quarter. One of the company’s driving forces that leads to its success is the use of Artificial Intelligence.
NVIDIA builds platforms with hardware and software, and these platforms can power self-driving features. Self-driving cars must process a massive amount of data from cameras in real-time. They should be able to detect objects like vehicles and pedestrians. The company is an admirable one because someday, its graphics will be supplemented by more specialized processors designed for Artificial Intelligence. The machine learning inference phase requires less demand than the training phase.
The training phase is not only demanding, but it also involves a lot of computing power. The company’s graphic chips are used significantly for rendering video games and do both inference and training phase tasks virtually. A wide variety of data software center applications are accelerated with the use of NVIDIA’s graphics cards.
International Business Machine (NYSE: IBM)
IBM is a tech giant, and they augment intelligence across the industries. The company is an integrated provider of hardware, software, and other extensive services to customers. IBM uses a designed strategy with AI to apply technology by augmenting intelligence and lower cost. IBM’s AI tech is also used in various health care industries to create individual care plans and also speeding up the process of delivering new drugs.
IBM is working with a marine research organization on “AI Captain,” the research is promising. It will be able to allow ships to self-navigate across the Atlantic Ocean. Awesome right? Yeah! The company’s mainframe computer systems are used in specific industries, and it signs multi-year deals worth hundreds of millions of dollars. Through the company’s acquisition of Promontory Financial Group, the company uses AI to assist clients with the daunting task of regulatory compliance.
NVIDIA, Micron, and IBM’s stock are worth considering; with the already growing market, IDC expects total spending on Artificial Intelligence to be $97.9 billion in 2023. IDC also expects a compound growth of 28.4%.
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Recommended for further reading:
- Unshakeable: Your Guide to Financial Freedom
- Keys to Success – Napoleon Hill
- The Richest Man In Babylon
- Think and Grow Rich! – Napoleon Hill
- Rich Dad’s Increase Your Financial IQ: Get Smarter with Your Money