Did you know that 77% of companies are using AI for their businesses? The global market of Artificial Intelligence is growing and successfully reshaping the ways companies operate. AI has influenced the market to a greater extent that it has not only automated lots of human tasks. According to research, AI can enhance business productivity by 1.5 percent over the next ten years, and 83% of businesses are using AI as a top priority. 56% of companies are using Artificial Intelligence to improve their business operations.
Forbes says that over half of businesses use AI for Cybersecurity and fraud management. One in four business, owners are worried about AI affecting their website’s traffic. However, 64% of business owners believe that AI will help them improve their customer relationships.
Artificial Intelligence has become a buzzword in today’s world. However, amidst all the buzz, you might have noticed that businesses are talking about AI models. So, what exactly is an AI model? Why is choosing the right AI model is important?
An Artificial Intelligence model is a program trained on a set of data to recognize to imitate human thought processes by recognizing certain patterns or making predictions without any human intervention.
AI models are trained to perform specific tasks. However, ensure that the more data you give to your AI model, the more accurate predictions you get.
There are various types of AI models for various types of tasks. However, there are some cases, where more than one AI model is used. What type of AI model you want to use and how many AI models you need to add to your app depends on the app's requirements and its complexity. However, complex models often use multiple models using ensemble learning techniques such as bagging, boosting, or stacking. The more complex the problem gets, the more clean data and computational power is required to train the model.
Types of AI models
AI models can easily automate decision-making, but there are only a few models that can autonomously optimize their performance over time. While all Machine Learning models are AI, not all AI models involve Machine Learning. However, in this section, we will shed some light on the various types of AI models. There are three types of AI models - Supervised learning, unsupervised learning, and reinforcement learning.
Supervised Learning: Supervised learning, also called classic machine learning, is a machine learning approach that uses labeled data sets. These data sets are labeled and cleaned with the help of human data experts. To guide the algorithm, experts label the data set, input key features, and target variables to help the model learn and mimic human behavior. This helps the model to make the right predictions and reduce the chance of errors. However, businesses must ensure that they clean and label data accurately. Businesses can implement supervised learning algorithms to perform tasks such as speech and text recognition, regression analysis, fraud detection, KNN algorithms, K-means, and random forest algorithms.
Unsupervised Learning: Unsupervised learning uses machine learning algorithms to analyze data without human intervention. Unlike supervised learning, unsupervised machine learning models are provided with unlabeled data sets. These algorithms discover hidden patterns and insights without any external guidance. But how do these algorithms find patterns all by themselves? Well, there are three types of unsupervised learning methods:
Clustering: A technique for exploring raw data, breaking it down into groups (or clusters), based on similarities or differences.
Association: It is a rule-based approach to finding interesting relationships between data points in large data sets. These are mostly used to organize medical datasets for clinical diagnoses.
Dimensionality Reduction: This technique reduces the number of irrelevant or random features from the entire dataset, without compromising the integrity of the properties in the original data.
Reinforcement Learning: In reinforcement learning models learn by trail-and-error learning process. The algorithm uses a reward-and-punishment paradigm and learns from the feedback of each action. Also, they are capable of finding the best processing paths to achieve final results. When the model successfully gives the right outcome, it is given a reward, and if it fails, it is given punishment. This reward-and-punishment paradigm reinforces the model to win. Reinforcement models are used to inform social media suggestions or algorithmic stock trading. The best example of a reinforcement learning model is self-driving cars.
Steps to Choose the Right AI Model for Your Application
Picking the right AI model is crucial for your app. It acts as the heart and brain of your AI application. Choosing the right model can help you improve and enhance the efficiency of your app. However, choosing the wrong one can degrade the efficiency of your app, and decrease the efficiency of the app. And, that is why you must stay careful while choosing the AI model for your application development:
Categorize Problem Statement: This is the first step towards a successful and efficient application. In this step, businesses need to figure out the type of algorithms that suits them. If the data is labeled and sorted into various categories, it is supervised learning. While, if you are using unlabeled data, it is unsupervised learning. Then, we have reinforcement learning, here our goal is to optimize the model with interactions with the external environment. If your model predicts numbers or assigns data to classes, it means that you are handling regression or classified problems.
So, before choosing the model, understand carefully what output you are trying to get from the AI model, and then choose the suitable one for your application.
Assess the Performance of the Model: Everyone wants their application to perform well, and handle issues that you are trying to solve using your apps well. So, be sure to check the performance of the AI model that you are planning to use for the application. In addition, businesses must ensure to look at the accuracy, recall, and precision of the output. However, while doing performance analysis, there is one more element to consider and it is explainability. Businesses must know why the AI model gives a particular result, and if there is any other model that can do better. Also, if there is no other better model than the one they are using, they should know the why.
Analyze the Complexity of the Model: A complex AI model can solve complex problems. But, complex models are hard to understand and implement. Also, the cost of implementation can be high. Hence, it is advised for businesses to look at the overall cost and requirements of their application. The decision to implement a complex model highly depends on your budget. If your budget allows, you can use complex AI models, otherwise, you can look for alternatives.
Check the Size and Type of the Data Sets: If you are using complex models like Neural Networks, you need a large volume of data. Whereas, a KNN model can do a better job with less data. Now, the kind of model you are planning to use also depends on the amount of data you have.
A supervised model needs labeled data, which can be costly and time-consuming, as data is labeled manually with the help of human data experts. However, if you are working with unlabeled data, then it will need an unsupervised AI model. Hence, you need to understand your problem and know the volume of data that you have. This can help you pick the right AI model for your application.
Check the Feature Dimensionality: Wondering if your AI model needs to have all the features that are given to you? Well, more features add complexity and more computational cost. However, you might be thinking that more features will help you make a better mobile app. Well, yes! But it is not always important. Using unnecessary or random features simply increases the cost of computation, without affecting the performance or accuracy of the model. Hence, it is advised to find a balance between features and complexity, helping you make a better application.
Final Words
The future of business is AI. With time, you will find AI in every business. Hence, while choosing the AI model for your application, ensure that you take the help of experts. They can guide you better and help you develop an efficient application for your business.
ToXSL Technologies is a leading Artificial Intelligence Services provider company. With our commitment to offer the most premium applications to businesses worldwide, we have built a strong reputation in the field of Artificial Intelligence. We have helped businesses grow by providing them with the best and most successful applications. So, what are you waiting for? Get in touch with us today and take your businesses a step ahead of your competitors.
