The journey to predicting human behavior to drive future success will include machine learning and artificial intelligence. But what’s the difference?
In a fast-paced and ever-changing world, businesses must evolve to stay ahead of the competition. One of the most significant changes in recent years has been the rise of machine learning (ML) and artificial intelligence (AI).
Machine learning is a process of teaching computers to learn from data. This is done using algorithms, statistical models and neural networks. Artificial intelligence is the process of making computers more intelligent, so they can understand and carry out tasks such as reasoning and complex problem-solving.
Machine learning is the tool used to develop and build artificial intelligence. ML (the ability of machines to learn) is a subset of AI, which is the broader concept of using computers to mimic human intelligence. AI includes other cognitive tasks like natural language processing and decision-making. As technology develops and impacts how businesses are run, the distinctions between these two concepts will become even more important.
These technologies automate repetitive manual tasks and processes, freeing employees to focus on more strategic work. They are also crucial for businesses to make better and smarter decisions by analyzing data more efficiently.
AI and machine learning can even improve customer service by providing employees with all the information they need to resolve issues and queries almost as soon as they are brought up.
As businesses begin to fully appreciate the potential of AI, it is being leveraged in various business functions, such as marketing, human resources, finance, and operations. Companies in healthcare are using AI to streamline payments and billing claims. It is even used in the prognosis and diagnosis of diseases in patients.
Businesses used to rely entirely on human workers for all tasks. With the advent of machine learning, automation is on the rise, leading to increased productivity and efficiency on all fronts, and making overall decision-making more data-driven.
One of the best examples of how machine learning has profoundly affected many industries is health and fitness. With the ability to process large amounts of data, machine learning has led to a better understanding of the human body and how it responds to exercise and nutrition.
It is also driving the development of new technologies, such as wearable fitness devices and smart fitness apps, making it easier than ever for people to track and receive tailored recommendations to improve their metrics.
Another great application of ML in the fitness industry is MOTUS Consumer Insights and their effort to help fitness clubs recover from losses due to the global pandemic. MOTUS CI uses ML to generate an omni-channel marketing strategy deployed directly at the household level of the ideal consumer at the household level via their channel preference. This has proven to yield massive growth to the bottom line for many health club operators across the US.
Overall, ML has positively impacted the health and fitness industry and is making it easier for millions to live healthier and more active lives. The future of AI and ML is inevitable and has the potential to change businesses forever. These cognitive technologies will make it easier to make faster and more intelligent decisions that will lead to long-term scaling and success. Forward-thinking business owners and entrepreneurs would do well to leverage ML and AI in their own operations.