What are the benefits MNC’s are getting from AI/ML?
Artificial Intelligence (AI) and Machine Learning (ML) are two very hot buzzwords right now, and often seem to be used interchangeably. … Machine Learning is a current application of AI based around the idea that we should really just be able to give machines access to data and let them learn for themselves.
The list of some MNCs benefited from AI/ML:
- Walmart: Walmart is one of the leading retail chains evolving to take advantage of tech to build their business and provide better service to their customers. From their scan-and-go shopping service in their physical stores, to their usage of machine learning to optimize the delivery routes for online orders, AI and ML is deeply woven into their setup. Investing in these technologies has enabled Walmart to provide their customers with a very high rate of satisfaction, along with bypassing the need to wait in long queues.
- Amazon: Trade giant Amazon has invested in both the consumer-oriented side of AI and in applications for companies and their processes. Alexa, the company’s AI language assistant, integrated into its echo speaker series, is well-known worldwide. However, Amazon Web Services (AWS), a set of machine learning programs and pre-trained AI services for businesses, hasn’t yet done so much. AWS currently has more than 10,000 customers, including Siemens, Netflix, Tinder, NFL, and NASA.
- Tesla: Tesla is one of the topmost automobile companies in the world. What makes Tesla even more intriguing is the whole excitement around its self driven car, which makes an intense use of AI. Artificial Intelligence is the technology which has enabled the car to be self driven, as it is capable of learning and making decisions on its own without human intervention. This is what makes it stand out from the rest of the technologies we have ever heard of. Tesla has taken excellent use of AI and Big Data for expanding its customer base. The firm has made use of existing customer databases for its data analytics using it to comprehend customer requirements and regularly updating their systems accordingly.
- Banjo: Banjo was founded after the tragic bombings of the Boston Marathon 2013. The start-up uses AI to search social media to identify real-time events and situations that could be critical for emergency services and other organizations to operate faster and smarter. The company has raised more than $120 million in funding to date, including investors such as the Japanese telecommunications giant SoftBank.
- DJI: The first Chinese company on the list, DJI, is still officially a start-up but has already been valued at 15 billion dollars. The company has a market share of more than 70 percent in the global drone market and is increasingly entering the AI market. The latest drones use AI and image recognition to avoid objects. Soon, an entry into autonomous vehicles and robotics can be expected. DJI has recently entered into a partnership with Microsoft for a drone-to-computer streaming project.