This is era of Artificial Intelligence (AI), Industries are taking benefits of it through different manner, will discuss the connection between ERP & AI and how organisation can take maximum benefit through it.
First we will understand what is AI and how it works.
Artificial intelligence (AI): It is a branch of computer science related with automation of intelligent behavior. As its name sound Intelligence which is created and it is not natural, it is artificial by nature. We as a human can predict things on the basis of our experience. A person who has more experience has the probability to predict near to accuracy. Same thing apply to machine. The more data we put into machine will be able to analyse it and provide result accordingly. The main difference between two that human mind has the limit to think but machine has no limit to think- it is purely based on data. In other words it has no boundary, its boundary less.
Further it will classify in to three divisions in order to advance feature:
Artificial Narrow Intelligence: It applied presently in Sire, Alexa, Sophia, self driving car etc
Artificial General Intelligence: Experts are working on it so that Machine can think as human.
Artificial Super Intelligence: Presently it is hypothetical situation where machine can surpass human mind.
AI can be classify it in following
- Machine Learning
- Deep Learning
Here we will only discuss about Machine Learning, because it is closer to our subject.
Machine Learning has also further subset, as
- Supervised ML: We have past data (labels) with result to analyze it and predict future trend. Algorithms are trained using labeled examples, such as an input where the desired output is known.
- Unsupervised ML: is used against data that has no historical labels. The system figure out what is being shown. The expectation is to explore the data and find some structure within. Unsupervised learning works well on transactional data
- Semi supervised Learning: It is a combination of both above two. This type of learning can be used with methods such as classification, regression and prediction. Mainly useful when the cost associated with labeling is too high commonly using in face recognition on web cam.
- Reinforced ML: is often used for robotics, gaming and navigation.
Hence, we seen that the type of analytical data we require have to input data in system and get desired result. It is commonly use in Financial, Retail, Healthcare etc. Business houses are using best ERP Software to avail this benefit.