..what is machine learning, exactly? Stanford University computer science professor Andrew Ng defines it as “the science of getting computers to act without being explicitly programmed.” In fundamental terms, machine learning is a branch of artificial intelligence that is meant to replicate the way humans take in information from their environment to make better-informed choices for the future*. But realistically, will machine learning transform the way businesses are managed?
It was a regular work day—I had entered my office premises, showed my face to the small screen on the attendance system and it marked my attendance. Once inside my cabin, I was reflecting on what just happened and I realized that face recognition and other forms of biometric solutions, including fingerprint scanning and retina scanning, have been indeed a part of a larger wave called Artificial Intelligence (AI) which began a few decades ago but seem to have gradually entered our daily lives. Household robots, robotic arms in automobile factories and hazardous environments, recommendation engines used in websites and searches on net, and self driving cars are but some examples of how AI is penetrating our lives.
What is AI and machine learning
AI, which traces its roots to research done by scientists for over a century, has been explored in many different ways—though not always successfully. Mimicking physical tasks done by humans (robotics), replicating [the functions of] sense organs (motion sensing, face recognition, etc.), cognition, rule-based decision-making, solving puzzles,playing games (IBM’s Deep Blue against Gary Kasparov), replicating practices of experts in various domains (expert systems) are examples of approaches taken towards understanding AI and developing new applications for it.
Esta historia es de la edición November-December 2016 de The Smart Manager.
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Esta historia es de la edición November-December 2016 de The Smart Manager.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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Building A Quality Culture
A strong company culture defined by its values, beliefs, and behaviors, has a profound impact on its products and services. More so in today’s VUCA world, where to stay relevant and maintain a competitive edge, it is critical for organizations to build a culture that focuses on quality. Suresh Lulla, author of Quality Fables, elucidates through significant examples how creating a culture of quality is imperative to driving success and productivity.
Customers For Life
The history of General Motors in India can be traced back to the 1920s, when it became the first automotive company to set up an assembly plant in the country. The relationship since then has not been as fruitful as GM would have hoped. GM’s flagship brand, Chevrolet, was introduced in India to build upon the success of the popular Opel marque. However, success has been fleeting at best—an issue that GM India is determined to rectify. It aims to do so by adopting a two-pronged approach: using customer feedback to influence product development, and delivering a superior sales-to-service experience.
The Digital Shift
… technology will radically disrupt HR in the near future. Indeed, it is already changing the way HR works and the role it plays and opening the door to a new type of “digital HR” function.1 The rise of digital and social media is changing the dynamics of HR and creating new ways of hiring, engaging, and retaining employees.
The Story Of Telling
“The best brands are built on great stories,”* this remark by Ian Rowden best captures the strategy of diligent brand building. Much more than attractive logos or the products themselves, what builds a brand is how successfully a story is woven around it. Brand marketers have to be good storytellers indeed.
Complexity Is Simpler Than You Think
Kay Kendall and Glenn Bodinson, authors of Leading the Malcolm Baldrige Way, shatter myths about excellence models such as Baldrige and EFQM.
Proponents of Isolation Never Become Victors
Multilateralism in the political and economic space has always led to frameworks that favor the mighty. WTO was no exception. With agriculture kept out of its purview, it could never become a truly fair and free trading system. China was the only large emerging economy that exploited relative openness in low-cost manufactured goods to take full advantage of the system. Other emerging economies could at best garner minor gains.
A History Lesson (From Year One) for Trump and the Brexit Crowd: Isolationism Has Never Worked!
Professor Stephane Garelli on growing isolationism.
A Win-Win Game
Business is not a sport where some stakeholder has to lose or fare badly for others to do well. Building an atmosphere of trust and transparency between all stakeholders will help companies retain them even during adverse times.
A Sustainable Model
With a total market value of $4.3 trillion and an employment base of at least 1.3 million direct employees and millions of others indirectly employed, platforms have become an important economic force.*Companies today are constantly looking for ways to build platforms—Infosys Ltd announced its plans of monetizing its platforms to make them a $2 billion business by March 2021. But are all platform businesses successful?
Custom Made
…three in four consumers said they receive too many emails from brands, and one-fifth said they could not handle the current volume…69 per cent have ‘unfollowed’ brands on social media, closed their accounts or cancelled subscriptions.*In these times, when the market is flooded with products and services, the most efficent way to engage customers is to offer them customized content. To achieve this, brands need to focus on observing the nuances of individual preferences.
