From a technology perspective, artificial intelligence (AI) and data mining are two topics that continue to evolve, adapt and make new technology solutions available—making them very relevant for business, government and IT leaders. While both AI and data mining have been meaningful for decades (AI being coined in the 1950s and data mining emerging in the 1990s), these technologies have exploded in relevance for modern businesses. Data mining is also referred to as knowledge discovery; it is used to reveal patterns and correlations within big datasets. AI, in simple terms, is the simulation of human intelligence processes by machines, especially computers.
Newer AI techniques and data mining, which traditionally use machine learning, together can reveal new opportunities by quickly converting mounds of data from unstructured information into actionable, structured data. Accessibility and the exploration of data become a possibility and can open insights that were previously hidden due to size, lack of structure and inefficient storage.
Once data is searchable, the ability to easily share it across systems is invaluable. Using iPaaS (integration platform as a service) as a conduit for automating and sharing data can lead to the ability to draw context and meaning of that data as well as other benefits. In fact, according to Verified Market Research (via RTInsights), the iPaaS "market is estimated to be worth $23.7 billion by 2028, increasing at a CAGR of 37.2% from 2021 to 2028." Accessible data is essential for continued, tremendous market growth.
The Possibilities Are Real
Outcomes will vary once actionable data is available and modern AI tools are used alongside that data. For example, in the insurance industry, companies can digitize their documents and images, add metadata and look at historical claims with AI to interpret and analyze pictures that couldn't be captured previously. Insurers could use the results to potentially adjust future policies. Businesses can also use AI tools for video, voice and audio at a call center to automatically analyze past reporting's to enhance customer satisfaction for new calls. Even law enforcement and security companies can now analyze video footage to address safety issues. Is it possible that societal maladies such as fraud, theft, terrorism and even car accidents could be prevented?
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/07/26/ai-and-data-mining-do-you-have-the-keys-to-the-castle/?sh=5100a7825cc5
Newer AI techniques and data mining, which traditionally use machine learning, together can reveal new opportunities by quickly converting mounds of data from unstructured information into actionable, structured data. Accessibility and the exploration of data become a possibility and can open insights that were previously hidden due to size, lack of structure and inefficient storage.
Once data is searchable, the ability to easily share it across systems is invaluable. Using iPaaS (integration platform as a service) as a conduit for automating and sharing data can lead to the ability to draw context and meaning of that data as well as other benefits. In fact, according to Verified Market Research (via RTInsights), the iPaaS "market is estimated to be worth $23.7 billion by 2028, increasing at a CAGR of 37.2% from 2021 to 2028." Accessible data is essential for continued, tremendous market growth.
The Possibilities Are Real
Outcomes will vary once actionable data is available and modern AI tools are used alongside that data. For example, in the insurance industry, companies can digitize their documents and images, add metadata and look at historical claims with AI to interpret and analyze pictures that couldn't be captured previously. Insurers could use the results to potentially adjust future policies. Businesses can also use AI tools for video, voice and audio at a call center to automatically analyze past reporting's to enhance customer satisfaction for new calls. Even law enforcement and security companies can now analyze video footage to address safety issues. Is it possible that societal maladies such as fraud, theft, terrorism and even car accidents could be prevented?
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/07/26/ai-and-data-mining-do-you-have-the-keys-to-the-castle/?sh=5100a7825cc5
