Accelerating Business Growth with Big Data and Artificial Intelligence

Artificial Intelligence (AI) is considered to be the fourth industrial revolution. Artificial Intelligence with the help of big data has transformed all industries around the world Artificial intelligence refers to the simulation of human or animal intelligence in computational systems so that they are programmed to think like Intelligent beings and mimic the actions of intelligent entities. Computational systems which have programmed intelligence can solve different real-world problems far more accurately and efficiently than computational systems that are deterministic and hardcoded. Since many problems in business and business analytics cannot be solved by deterministic systems, AI plays a major role in tackling problems in the business world Machine learning and deep learning which are subsets of the field of AI is widely used to solve and optimize many problems in business such as marketing, credit card fraud detection, algorithmic trading, customer service, portfolio management, product recommendation according to the needs of customers, insurance underwriting. AI and big data have revolutionized the business world and this paper discusses some AI and big data technologies that are currently being used to accelerate business growth.