Artificial Intelligence and Machine Learning (AIML)

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Artificial intelligence (AI) is a collection of techniques that are designed to mimic human thought processes in computers.

Machine learning (ML) is a technical discipline designed to apply the principles of data science and statistics to uncover knowledge hidden in data.

• is a subset of AI
• analyzes data to uncover trends, categorize records, help run businesses more efficiently
• goals of ML:
  • Descriptive analytics
    • seeks to describe data
    • e.g., describe customer demographics and behavior
  • Predictive analytics
    • seeks to use existing data to predict future events
    • e.g., build a model to predict how customers will respond to email strategy
  • Prescriptive analytics
    • seek to optimize behavior by simulating many scenarios
    • e.g., determine the best way to allocate marketing spend
      • optimize performance of an automated manufacturing process