Big Data is a Big Deal. From IT firms to insurance companies to national security organizations, everything is thinking big. So where does AI come in? In simple terms, data is getting so big that organizations resorting to human management alone will find themselves very quickly out of time and money. Artificial intelligence and big data have a circular dependency on each other in order to function well and progress: big data relies on AI-aided processing in order to be useful and AI learns to function from big data sets. Here’s how AI is going big time in the world of big data:
- Data Analytics: Simply put, more data = more precise analytics. Big data and artificial intelligence make a great team when it comes to data mining and statistical modeling for meaningful analytics that empower CIOs to turn their information into action. Artificial intelligence is the only solution to process and code these large amounts of data into multiple information streams.
- Blockchain: Blockchain is unchangeable and decentralized, which dodges many security concerns. Blockchain and AI systems account for global teams, allowing multiple access points, and organized cybercrime, requiring multiple clearances. Our prediction? Healthcare organizations will be the first to take advantage of AI in big data, specifically blockchain capabilities, for security.
- Machine Learning: The sub-branches of Artificial Intelligence, specifically Machine Learning, Deep Learning, and Neural Networks, rely on large amounts of data to effectively create the algorithms that they need to function. Indeed, MetLife Insurance has combined Machine Learning and AI to reduce software and hardware expenses, nicknamed commodity parallelism; store more data sets online, thus increasing access for all relevant parties; and deeply power and scale their machine learning efforts. Finally, you need a large processor to store and process all the information, and AI provides an unstructured solution that is flexible enough to work with many algorithms.
- Insights: Both B2B and B2C businesses can benefit from incorporating more artificial intelligence into their big data strategy. Artificial intelligence can enhance and power tools that collect critical insights from customers, including standard user experience actions and self-service analytics. Insights, combined with data analytics, can help to build accurate predictive models that CIOs can use to make more informed decisions.
- New concepts: Tesla crowdsourced some of their data last year, capitalizing on a new idea made possible only by merging artificial intelligence and big data. In the big data/artificial intelligence space, we expect continued innovation to impact the market that will empower businesses further to realize the value of big data/artificial intelligence strategy.
The Trace3 Data Intelligence team works with clients to enable businesses to transform their traditional data warehouses and B/I environments to next generation Data Analytics platforms using today’s most innovative solutions. Our team will help you navigate the rapidly evolving ecosystem of tools and providers to develop the best data flow strategy for your business.
Check out the recent 451 Research Report: Trace3 Solidifies its Place as a Big Data Intelligence Service Provider