Role of AI/ML in predictive analytics

Before we get into the role of AI/ML, let’s quickly understand how AI, ML, and deep learning (DL) are co-related.

AI refers to a field of computer science that focuses on creating intelligent machines or systems that can perform tasks that typically require human intelligence. AI aims to simulate human cognitive processes such as learning, reasoning, problem-solving, perception, and language understanding. Out of the many possibilities, some examples of AI are speech recognition, computer vision (CV), natural language processing (NLP), learning, and problem-solving.

ML is a subfield of AI that focuses on the development of algorithms and models that allow computers to learn and make predictions or decisions without being explicitly programmed. ML also gets referred to as predictive analytics since it’s able to predict outcomes. Examples of ML usage in business terms would be sales forecasting, fraud detection, sentiment analysis...