AI and machine learning: Top 6 business use cases

Artificial intelligence and machine learning aren't considered new technologies anymore, but their use cases are, according to TIBCO.

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Artificial intelligence (AI) and machine learning may seem like cutting-edge technology, but in reality, the tools have been in existence since the mid-20th century, according to a TBCO report released on Thursday.

The report surveyed more than 600 executives to determine the top business use cases for AI and machine learning in today's enterprise. While the technology isn't new, it has evolved, and the use cases reflect that long progression, the report said.

SEE: Special report: How to implement AI and machine learning (free PDF) (TechRepublic)

Here are the top six use cases for AI and machine learning in today's organizations.

  1. Data security (28%): These use cases include risk identification, early detection, operation improvement and corrective action.
  2. Real time analytics (24%): AI and machine learning can use real-time analytics to find fraudulent transactions, product offers, dynamic pricing, and more.
  3. Personalized data visualizations and dashboards (24%): The tech can be used to identify irregularities in data, support predictive analytics, and suggest improvements for performance.
  4. Data integration, preparation, and management (23%): AI and machine learning is vital for understanding the details of an organization's data.
  5. Sales/revenue forecasting (23%): These use cases include accurate sales forecasting, enhanced business control, and assistance in year-over-year growth
  6. Personal security (20%): The tech can be used for home surveillance, access to controls for events, and military defense.

For more, check out this TechRepublic article on how to implement AI and machine learning in your company.

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Image: iStockphoto/Chainarong Prasertthai