International Journal For Multidisciplinary Research

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Artificial Intelligence and Machine Learning- the New Emerging Technology

Author(s) Rajnish Kumar, Laxmi Ahuja, Suman Mann
Country India
Abstract With the emergence of new requirements & needs and ways to resolve these needs, nowadays software development has become the most demanding and powerful way to solve and satisfy the requirement of the customer and end user. Any requirement raised by the set of people from different domains and age groups, there are multiple ways to solve the purpose but nowadays software development has become the most powerful approach to solve the purpose. Additionally, software implementation has become the most effective way to satisfy the customer requirement. Basically, software development is a defined and structured method that starts with a set of requirements or some problem statement. Once the requirement is finalized then in the next phase the approach is defined to solve the requirement which is followed by code development considering the fact that it is the most suitable approach to solve the purpose. Also, this software had the capacity to solve or change the traditional mechanism of working. For example, around 10-15 years back, the BFSI sector was working with the help of pen and paper. All records were kept on some paper or registered with lots of problem statements like maintenance of documents, extra delay in processing, and flexibility of using own account money at some other location. Additionally, these bankers were not able to do any analysis or tend analysis for the available set of data which was available with the available data set. In addition to trend analysis, these people were not able to do the projection analysis finally resulting in the loss of business opportunity which was possible with the help of trend analysis. Implementation of software that could automate the activity was able to solve the initial problem statement with the help of projection and trend analysis attracting the business opportunity. The people were able to maintain track of each customer and region accordingly. Also, timely action on these data and corrective action was possible. Still, the missing part was the processing of a large dataset and extracting meaningful information from the available dataset. Also, they were not able to do a trend analysis for the market. In order to resolve the above-said problem statement Artificial Intelligence was introduced which is also known as AI which has the capacity to process larger datasets and is able to extract information that is accurate and correct in nature. Additionally, with the help of AI, the researchers were able to do the sentiment analysis of the market through which they were able to do the corrective action as per the requirement. Additionally, AI help in fraud detection, compliance enforcement, and other help in the most cost-effective manner and in very less time.
Keywords Artificial intelligence, AI, Emerging Technology, Revolutionary Technology, Agile development, Machine learning
Field Computer > Artificial Intelligence / Simulation / Virtual Reality
Published In Volume 5, Issue 6, November-December 2023
Published On 2023-11-09
Cite This Artificial Intelligence and Machine Learning- the New Emerging Technology - Rajnish Kumar, Laxmi Ahuja, Suman Mann - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.8500
DOI https://doi.org/10.36948/ijfmr.2023.v05i06.8500
Short DOI https://doi.org/gs38hq
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