How can I manage the future with machine learning and AI?

As they say, future is not ours to see, but soon with advances in machine learn­ing and AI, we will be able to see clos­er and even change it.

Arti­fi­cial Intel­li­gence and ML are two dif­fer­ent things. The main con­cept behind AI is a com­put­er pro­gram designed to accom­plish tasks that require intel­li­gence

Machine learn­ing, as the name implies, is an area of ML where algo­rithms get feed­back from expe­ri­ence and improve their accuracy. 

When it comes to man­ag­ing your future, you can use ML to make the best invest­ments. Invest­ment does not nec­es­sar­i­ly mean mon­ey, but also many oth­er things includ­ing per­son­al lifestyle management.

Here are the best ways you can man­age your future with machine learning:

Personal Use

To schedule things better

When the hor­i­zon­tal and ver­ti­cal lines meet, it means the sched­ule is com­plete. You might want to sched­ule your meet­ings bet­ter in the future. 

For doing so, AI and ML can be used to pre­dict the results of poten­tial meet­ings before­hand. For exam­ple, if you want to see the peo­ple who are cur­rent­ly in your vicin­i­ty and sched­ule a meet­ing, then the AI will make a com­par­a­tive analy­sis between the peo­ple who are nearby.

If you want to plan a hol­i­day and you have not decid­ed where to go yet, ML can be used to tell you which place is bet­ter than the oth­er. The algo­rithm may be as sim­ple as doing a com­par­a­tive analy­sis based on fac­tors like tem­per­a­ture, crime rate etc.

The tech­nol­o­gy also gives us an option for future plan­ning. For exam­ple, if you have 10,000 dol­lars to spend, AI and ML can tell you which things you should buy and which things do not need to be bought.

To make the best career choice

If you are in a cer­tain career and it is not going well, ML can tell you the steps that can help improve your career and the oth­er 2 mil­lion peo­ple who are in the same career as you. The process needs some com­pu­ta­tion time, but it can’t be that dif­fi­cult.  
 
The 2 main fac­tors include how long an indi­vid­ual will work with a cer­tain com­pa­ny over a peri­od of time; if they leave, then what would hap­pen to them (e.g., they would find anoth­er job) etc. It is clear that it is not pos­si­ble to pre­dict a career’s suc­cess today. But this pre­dic­tion can be done over a peri­od of time and com­pa­nies can avoid hir­ing some­one who will leave with­in the next 10 years.

For exam­ple, AI can pre­dict a per­son­’s behav­ior over a peri­od of time and tell the com­pa­ny whether they are like­ly to leave or not. In this way, it will be easy for com­pa­nies to under­stand their employ­ees bet­ter and the com­pa­nies won’t hire some­one who is like­ly to leave with­in the next 10 years.

To manage your finances better

The more you spend, the more mon­ey you need to earn in order to make up for it. This also applies to sav­ings, and if you want your sav­ings to grow over time, then you need a good rate of return on your sav­ings. How­ev­er, we have not been able to see con­sis­tent pos­i­tive results from our invest­ment in stock mar­kets or mutu­al funds so far. AI and ML can be used to solve this problem.

So, how can AI pre­dict the poten­tial return on your invest­ments? There is a huge amount of infor­ma­tion that we can use to pre­dict the future of stock mar­kets. For exam­ple, we can look at what hap­pened in the past and see how long it took for the mar­ket to recov­er from a reces­sion, or how long it will take an econ­o­my to bounce back from a reces­sion etc.

AI will sug­gest you say­ing like, “The mar­ket has had this kind of per­for­mance before so I think it will do well in the future.” It is dif­fi­cult for humans to make pre­dic­tions about stocks, but AI and ML algo­rithms are very use­ful because they are not bur­dened with emo­tions and prej­u­dices when mak­ing decisions.

Fur­ther­more, as AI will have access in your per­son­al finan­cial tools like your income-expen­di­ture records, wal­lets, invest­ments etc., it will be able to guide you towards a bet­ter finan­cial management.

To understand people better

The study of human behav­ior is pret­ty old and it is all about under­stand­ing human behav­ior at a deep­er lev­el. Things, like why peo­ple behave in a cer­tain way and why they do not; where these things come from, etc. It is not pos­si­ble for humans to study this on their own. It’s because of the huge amount of data involved in the process.

At best, we can study the behav­ioral pat­terns in small sam­ple sizes (about 20 to 100 indi­vid­u­als). But if we want to get a com­pre­hen­sive view about indi­vid­u­al’s behav­ior or entire species’ behav­ioral pat­terns, then we can uti­lize AI and ML algo­rithms to under­stand peo­ple bet­ter through an auto­mat­ed approach.

For instance, what are the dri­ving forces behind human actions, how do we behave when the stakes are high, and if we have done cer­tain things in the past, then what is our like­li­hood to do it again etc. We can also use AI and ML to pre­dict our like­li­hood to behave in cer­tain ways.

Like­wise, peo­ple will get AIs to use to under­stand­ing peo­ple’s psy­cho­log­i­cal attrib­ut­es through a sam­ple of their behav­ior or online activ­i­ties. We can look at peo­ple’s social net­work analy­sis and deter­mine if they have a cer­tain kind of friends who will influ­ence their deci­sions pos­i­tive­ly or neg­a­tive­ly. It is pos­si­ble that a per­son may have friends who like them but they still might do dumb or embar­rass­ing things some­times (this way AI can avoid these interactions). 

To schedule meetings better

When you think of sched­ul­ing a meet­ing, you think of book­ing a room in a venue, deter­min­ing which peo­ple you need to invite to the meet­ing, and call­ing them up or send­ing an invi­ta­tion by email.

If we can pre­dict who is going to attend the meet­ing before­hand and what their atten­dance sta­tus is expect­ed to be then we can find out when and where the meet­ing should take place for everyone.

So that’s what AI does; it sched­ules meet­ings based on data giv­en. It will use your social net­work’s data about your friends’ busy sched­ules for sched­ul­ing meetings.

In addi­tion to this, it will also look at the prob­a­bil­i­ty of peo­ple’s atten­dance, the rea­sons behind their absence from the meet­ing etc. This will enable you to build con­fi­dence in what you are doing.

To diagnose your medical conditions better

We would obvi­ous­ly like to know what the issues are so that we can get bet­ter. But just because we have a list of symp­toms, it does not mean that the list is com­plete or it is even accu­rate. How do you con­firm what you are experiencing?

By list­ing out all the pos­si­ble sources of your issues, check­ing them one by one and final­ly con­firm­ing your con­di­tion. How­ev­er, this process takes a lot of time and it also involves a lot of human error as well as sub­jec­tive analy­sis tech­niques and inter­pre­ta­tion. It’s because our brain can only process so much at any giv­en point in time.

We can use AI to diag­nose these issues faster and more accu­rate­ly than humans through machine learn­ing (ML). Even if they are unable to make the cor­rect diag­no­sis imme­di­ate­ly, it will be pos­si­ble to nar­row down the list of issues over time and even­tu­al­ly yield a more accu­rate diagnosis.

To actually predict the future (up to an extent)

We talked about AI today pre­dict­ing the future in the con­text of stocks and invest­ments. How­ev­er, it is pos­si­ble to see AI actu­al­ly mak­ing pre­dic­tions about some­thing out­side of the finan­cial world too.

For exam­ple, it’s pos­si­ble to use Machine learn­ing tech­niques (ML) to pre­dict process­es such as which process par­tic­i­pants will fol­low dur­ing a meet­ing, how much time they will spend on each stage, what kind of emo­tions par­ty A will feel towards par­ty B at any point and whether they will rec­i­p­ro­cate that lat­er on etc.

It is not as sim­ple as look­ing at a sec­ond-order deriv­a­tive of some val­ue or apply­ing some math for­mu­la though. In fact, it can be chal­leng­ing to come up with algo­rithms that work with high accuracy.

AIs will pre­dict the future by using data on things like how much time they should spend dur­ing dif­fer­ent breaks, the length of dis­cus­sions between peo­ple, the amount of agree­ment and dis­agree­ment that both par­ties about a par­tic­u­lar issue feel. It is pos­si­ble for AI to pre­dict what will hap­pen in the short as well as the long-term effects of a par­tic­u­lar action of us.

Business

Businesses using ML for consumer insights and marketing effectiveness.

We may also use ML in the future to accu­rate­ly gath­er con­sumer insights and inform the con­sumer in real time.

It can pull data from social net­works, search engine queries, and oth­er rel­e­vant places to find pat­terns that humans will not be able to deter­mine with­out some form of AI. 

AI will mon­i­tor all your online activ­i­ties from web brows­ing to online shop­ping. It can take into account the weath­er con­di­tions and oth­er envi­ron­men­tal fac­tors (like a cur­rent lev­el of sun­light for exam­ple) in pre­dict­ing how peo­ple are like­ly to behave or react in dif­fer­ent scenarios.

The best exam­ple is the use of machine learn­ing algo­rithms (ML) by Face­book for tar­get­ed ad place­ment for ads on the social media platform.

Recruiting new employees with the help of ML

Recruit­ing new employ­ees with the help of machine learn­ing algo­rithms (ML) will help you to find faster and more per­fect can­di­dates for you. 

AIs such as Deep learn­ing, Bayesian infer­ence and pat­tern recog­ni­tion will enable us to pre­dict the prob­a­bil­i­ty of can­di­dates being right for a cer­tain role. In addi­tion to that, it will also pro­vide you with the math­e­mat­i­cal rea­son­ing behind why a par­tic­u­lar can­di­date is like­ly to be right for that role.

This allows you, as an employ­er, to know the prob­a­bil­i­ty of which can­di­dates would be able to per­form well at their cur­rent roles and in their future roles. It also allows you to decide which can­di­dates can be trained or pro­mot­ed faster and whether they should be paid more or less effi­cient­ly in your business.

Related:

Automat­ing repet­i­tive tasks or pro­vid­ing new solu­tions that auto­mate rou­tine work or sup­port processes

An advanced ML sys­tem can help to auto­mate repet­i­tive jobs or pro­vide solu­tions that auto­mate rou­tine work.

For exam­ple, peo­ple can use it in the con­text of call cen­ters to pre­dict the nature of a top­ic that they are like­ly to dis­cuss and then route the call accord­ing­ly. It is pos­si­ble to train AI with algo­rithms and use it in your busi­ness or home.

Like­wise, there are com­pa­nies that pro­vide chat­bots, which are chat­bots that can answer basic cus­tomer inquiries and sup­port questions.

There are even AI-based assis­tants such as Siri and Cor­tana, who can speak on your behalf to gath­er infor­ma­tion or make a request. As they become more advanced, they will be able to under­stand things in more details such as the con­text of the ques­tion or request being made by you.

Helping your maintenance to predict the best time for repair and maintenance

AI sys­tems will help you pre­dict when main­te­nance is nec­es­sary to fix a par­tic­u­lar prob­lem or when it is good enough to wait before get­ting some­one to come over there.

Experts can train an AI sys­tem to enable them to iden­ti­fy pat­terns and pat­terns in data. If it iden­ti­fies some­thing unusu­al, it will noti­fy main­te­nance as soon as possible.

AIs such as Deep learn­ing, Bayesian infer­ence and pat­tern recog­ni­tion will enable us to pre­dict the prob­a­bil­i­ty of can­di­dates being right for a cer­tain role.

In addi­tion to that, it will also pro­vide you with the math­e­mat­i­cal rea­son­ing behind why a par­tic­u­lar can­di­date is like­ly to be right for that role. This allows you, as an employ­er, to know the prob­a­bil­i­ty of which can­di­dates would be able to per­form well at their cur­rent roles and in their future roles.


As machine learn­ing or AI will inevitably have a huge influ­ence in our future, prop­er­ly man­ag­ing their role and pre­dict­ing their effects will be cru­cial for a suc­cess­ful future.

The gov­ern­ments will have to pre­pare them­selves with laws that reg­u­late the use of AI in var­i­ous sec­tors such as med­i­cine, crim­i­nal jus­tice, finance and insur­ance etc. as well as hav­ing a prop­er edu­ca­tion sys­tem that can train peo­ple in an envi­ron­ment with AI. They also need to be care­ful and aware of how they are prepar­ing AIs. A wrong time­line of advance­ments could lead to the dan­gers of mis­use, dis­crim­i­na­tion, and tox­ic environment.

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