10 Dec Tips for HR Dummies: What’s the Difference Between AI and Machine Learning
Artificial intelligence and machine learning are two in-demand skills in the field of Fintech. However, despite this, not every HR personnel is aware of the nitty gritty differences when it comes to tech skills.
There are many misconceptions when it comes to spotting the differences between artificial intelligence and machine learning. In this article, we aim to clear up the misconceptions by highlighting the crucial difference between AI and machine learning.
What is Artificial Intelligence?
To put it simply, artificial intelligence (also known as AI) is a branch of computer science that emphasizes the development of intelligent machines. The aim is to create machines that can think and work like humans. Examples include speech recognition and problem solving to name a few.
In Fintech, artificial intelligence is sought after to optimize mundane tasks. AI is also used by the Fintech industry for customer service, behaviour analysis, and even fraud finding. However, keep in mind that artificial intelligence (AI) is a broad term.
What is Machine Learning?
Machine learning on the other hand, is a branch of artificial intelligence. Machine learning refers to the study of computer algorithms that allow computer programs to automatically improve through experience.
An example of machine learning in action is: when you feed a machine with the songs you enjoy, along with their audio statistics (e.g. genre). The machine will then decipher the data to generate a system that helps identify songs that match your desired algorithm. That way, it will be able to recommend you good music that you’ll probably listen to and rate highly. This is how your favourite streaming services like Spotify and Netflix works.
Machine learning is slightly more complicated than artificial intelligence (AI). There are two types of machine learning: supervised and unsupervised machine learning.
Learn more about the difference between supervised and unsupervised machine learning here.
Ok, so what’s the difference between artificial intelligence and machine learning?
Artificial intelligence and machine learning are related, but they’re not exactly the same thing. The one major difference is that machine learning does not have to be programmed. AI or artificial intelligence is code that does tasks based on inputs. With machine learning the computer writes the AI using maths found in data sets. Additionally, artificial intelligence is a blanket term that is often used to describe a range of underlying technologies. Whilst machine learning is a subset of AI that focuses on data and algorithms to make improvements.
We’re not going to get into the nitty gritties of the differences between artificial intelligence and machine learning. The good thing is that someone trained in machine learning will also receive training in artificial intelligence, as they often go hand in hand. Consequently, a programmer trained in Python programming will also be able to wrangle data to execute machine learning tasks (e.g. data modelling, supervised machine learning, unsupervised machine learning).
There is also a misconception amongst non-IT trained employees that artificial intelligence and machine learning might replace hard working employees. Of course this couldn’t be further from the truth.
So what’s the big deal?
There isn’t really a big deal! It’s just important to distinguish that artificial intelligence (AI) and machine learning are related but they’re not the same thing. If you’re still having trouble differentiating between the two, consider outsourcing your headache to an it recruitment agency in Singapore.
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