Page 22 - BANKING FINANCE OCTOBER 2021

ARTICLE

However labelled, the field has many branches, with many Difference between Analytics, AI, NLP,
significant connections and commonalities among them. The
most active today are shown here: ML, NN and DL
Y AI or Artificial Intelligence:
Building systems that can do intelligent things.

Y NLP or Natural Language Processing:
Building systems that can understand language. It is a
subset of Artificial Intelligence.

Y ML or Machine Learning:
Building systems that can learn from experience. It is
also a subset of Artificial Intelligence.

Y NN or Neural Network:
Biologically inspired network of Artificial Neurons

Analytics is subset of A.I. which falls under supervised Y DL or Deep Learning:
learning in machine learning segment. Analytics is the Building Systems that use Deep Neural Network on a
systematic computational analysis of data or statistics. It is large set of data It is a subset of Machine Learning.
used for the discovery, interpretation and communication
of meaningful patterns in data. It also entails applying data Y Analytics or Data science:
patterns towards effective decision making. The systematic computational analysis of data or
statistics
It can be valuable in areas rich with recorded information;
analytics relies on the simultaneous application of statistics, Types of Artificial Intelligence (AI)
computer programming and operations research to quantify
performance. There are 3 types of artificial intelligence (AI):
Y Narrow or weak AI,
Organizations may apply analytics to business data to Y General or strong AI
describe, predict, and improve business performance. Y Artificial superintelligence
Specifically, areas within analytics include predictive
analytics, prescriptive analytics, enterprise decision Y ANI - Artificial Narrow Intelligence: It has a narrow
management, descriptive analytics, cognitive analytics, Big range of abilities.
Data Analytics, retail analytics, supply chain analytics, store It comprises of basic/role tasks such as those performed
assortment and stock-keeping unit optimization, marketing by chatbots, personal assistants like SIRI by Apple,
optimization and marketing mix modelling, web analytics, Cortana by Microsoft, IBM's Watson, Image / facial
call analytics, speech analytics, sales force sizing and recognition software, Disease mapping and prediction
optimization, price and promotion modelling, predictive tools, Manufacturing and drone robots, Email spam
science, graph analytics, credit risk analysis, and fraud filters / social media monitoring tools for dangerous
analytics. content, Entertainment or marketing content
recommendations based on watch/listen/purchase
Since analytics can require extensive computation (see big behaviour.
data), the algorithms and software used for analytics
harness the most current methods in computer science, Y AGI - Artificial General Intelligence: It is on par with
statistics, and mathematics. human capabilities.

22 | 2021 | OCTOBER | BANKING FINANCE