AI vs Machine Learning vs Deep Learning
AI vs Machine Learning vs Deep Learning
What is More Relevant for Retail Industry?
These days when it comes to technology, everybody seems to be talking about AI and machine learning. So much so that they are often used as interchangeable terms. People believe that AI and machine learning are similar concepts. To this mix, deep learning also gets added naively. But it is the trained mind who knows that these three are not interchangeable.
In fact, machine learning and deep learning are branches of AI as a bigger discipline. Think of them like the Matryoshka dolls, each one of them sitting inside the other. That’s what happens with machine learning, deep learning, and AI.
So, let’s explore each one of these concepts independently. Let’s start with the smallest piece first.
Deep Learning
So, what is deep learning?
As mentioned earlier, deep learning is a technique of machine learning that empowers computers to perform human like tasks. It allows computers to perform activities that come naturally to humans like recognizing voice, images, sentiments, motion etc.
What makes this technique extremely popular is the fact that if implemented properly, the computers can exceed humans in performance.
So, where do we see deep learning practically implemented? In more places than we even realize!
We all know that driverless cars are getting a lot of attention these days. What fuels these cars? Deep learning algorithms! We have heard about facial recognition. Once again, deep learning is at work here. Speech recognition solutions are powered by deep learning technology.
So how can retailers use deep learning? There are many creative ways.
Retailers can allow customers to use voice recognition technology to guide them in product search. Instead of walking through different aisles looking for a particular product, the voice command can help them in navigation.
They can also use facial recognition to identify the loyal customers as they walk into the store and offer them special prices on products through dynamic pricing.
There are many practical uses of deep learning technology for retailers. To explore deep learning solutions, you can get in touch with us.
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Machine Learning
Now that we have understood deep learning, let’s take the next bigger piece which is machine learning. So, what is machine learning?
It is a part of artificial intelligence that enables learning and improving from experience. As the name itself suggests, it enables machines to learn and self-evolve without any explicit code. It is this learning ability that sets machine learning apart from other programs.
While other computer algorithms are coded for a specific purpose with all the data and conditions fed in, machine learning algorithms are not restricted to these. They make computers almost human like by instilling the learning feature.
While machine learning seems quite simple, it is one of the most complex technologies around. The calculative and deductive power used in these algorithms is often beyond human comprehension.
So how can retailers use machine learning? There are many exciting ways of using it.
We know that retail industry is focused on hyper personalization and localization. Machine learning can help here. It can allow retailers to personalize their business for every single customer. You can set up personalized offers, communications, and even products for customers based on ML recommendations.
E-commerce retailers can improve logistics and product delivery.
Retailers can also deploy self-learning chatbots to engage with customers in a meaningful conversation. The ML powered chatbots can improve the quality of conversations, reduce the in-queue time for customers, and reduce operations costs.
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Artificial Intelligence
Now let’s see what is artificial intelligence or AI as it is popularly called.
AI is the science of developing simulated intelligence in machines. In simple terms, it is computer programming that empowers a machine to think and act like humans – basically emulate human behavior.
AI is the larger discipline which includes machine learning and deep learning. So, all that we have seen as part of ML and DL technologies is a subset of AI.
There are many practical examples of AI in retail industry today. There are voice assistants, accountants, billing anomaly identifiers, search assistants, etc. A retailer can have multiple AI applications available. But what really matters is the fact that you have the right kind of solution.
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Conclusion
Many retailers are known to jump the bandwagon of AI and invest in solutions that have very less relevance to their business, focused geography, and even strategic objectives.
We work with retailers as a technology consultant to help them through the decision-making process. We recommend solutions that would do maximum justice to the brand and its business goals. We help them understand whether they should invest in machine learning or deep learning solutions. We also help them identify potential areas where AI solutions would make most difference.
To get your artificial intelligence solutions strategy evaluated get in touch with us. To know more about path-breaking AI solutions for retail, contact our AI specialists.