Data-Driven Decision-Making: How AI Engineers Contribute

Date:

Trending

AI is a gamechanger for businesses, allowing them to make great commercial decisions. The more data-driven decisions it makes, the more it learns and the more accurate its predictions turn out, allowing businesses to make great commercial decisions.

- Advertisement -

This is starkly different from how businesses have operated over the past century or even 20 years ago. Until then, every important decision was made at a central point: a human.

The issue for modern companies today is that they’re drowning in data. Processes like spreadsheets and databases just don’t cut it anymore and humans cannot keep up.

- Advertisement -

From analyzing data and employing machine learning to train AI to develop strategies based on the collected data, AI engineers play a prominent role in enabling enterprises to make data-driven decisions.

AI Engineers can quickly analyze large datasets

Large datasets allow organizations to make data-driven decisions instantly. What content does their target audience prefer? What needs to be changed in a failing marketing campaign? Such an analysis can be incredibly time-consuming for humans, but for an AI engineer, it’s instant. 

AI Engineers can help attract, engage, and build loyalty

As businesses cater to activated and empowered customers, understanding differences in their attitudes, behaviors, and needs is of utmost importance. AI engineers are best poised to carry out intelligent segmentation and deliver a unique customer experience.

AI Engineers can boost sales and marketing campaigns

Neural networks have been proven to be by far the most precise way of countering many problems like translation, speech recognition, and image classification. Armed with natural language processing skills, AI engineers play a pivotal role in helping companies understand how their customers are interacting with their brand, and what changes need to be made to make them more appealing.

AI Engineers can help businesses understand their customers better

Using machine learning and natural-language understanding, AI engineers analyze the written or spoken word, categorizing, organizing, and analyzing customer data in real-time, to ultimately understand customer sentiment.

AI Engineers can predict future demand and supply 

Armed with a great knowledge of statistics, signal processing techniques, and neural-language processing, AI engineers help ensure the optimized quantities of inventory are maintained, leading to increased service, increased profitability, and increased capacity. 

AI Engineers can help optimize product pricing

AI engineers use AI-driven price optimization to increase conversions and margin and not only save the organization time but also money. 

AI Engineers can drive the implementation of AI within the organization

AI engineers can add value beyond the development and training of machine learning models to the implementation of these models within the organization. AI engineering brings together disciplines from across the organization to develop a unified path to attaining value when operationalizing a combination of multiple AI techniques.

Skills to Hone to Become an Expert AI Engineer

Enterprises looking to leverage AI in a big way must start with an audit of the skills required. Let’s take a quick look at essential technical and non-technical skill sets one needs to stand out as an expert AI engineer.

Applied Math and Algorithms 

This solid skill set will enable your understanding of subjects like Gradient Descent, Convex Optimization, Lagrange, Quadratic Programming, Partial Differential equation, and Summations. 

Neural Network Architectures 

Machine Learning enables simplifying and coding complex tasks, which are beyond human capabilities. One of the most precise and proven ways to solve issues is through neural networks such as image classification, speech recognition, and translation.

Programming Skills

Irrespective of specialization, AI engineers will benefit greatly from a basic understanding of computer science and programming languages like Python, R, Java, and C++. Not only are these easy to learn, but their applications also provide more scope than most other languages. 

Knowledge of Statistics

A good grasp of concepts including Matrices, Vectors, Matrix Multiplication, and knowledge in Derivatives and Integrals is essential. Proficiency in statistical concepts like Mean, Standard Deviations, and Gaussian Distributions along with probability theory for algorithms like Naive Bayes, Gaussian Mixture Models, and Hidden Markov Models are key to thrive as an AI Engineer 

Signal Processing Techniques 

AI engineers must have a good grasp of Signal Processing and possess the ability to solve several problems using Signal Processing techniques, a skillset crucial for feature extraction, an important aspect of Machine Learning. 

Non-Technical skills 

Ultimately, it’s not just the technical know-how, but softer aspects that make the difference in enabling sound data-driven decisions in organizations. A high degree of collaboration and getting together of different mindsets is essential to enabling AI to understand neural networks and the various behaviors of the human brain. 

An AI engineer needs to have excellent problem-solving skills and cultivate systematic, analytical thinking to come up with innovative solutions to problems.

While communication is key to collaborating effectively across the organization, rapid prototyping is critical to building on ideas within the minimum time requested. Success will depend upon the AI engineer’s ability to quickly test and modify models as required.

Build a Talent Foundation Before Launching AI 

What we see at KnowledgeHut (an upGrad company) as a digital and skills transformation partner to several Fortune 500 companies across the world, is that the tech skills gap is growing in large part due to talent strategies that are not sufficiently thought through.

As per a Teradata report, an estimated 80% of enterprises are investing in AI. However, companies at every level of AI sophistication are faced with a rapidly growing skills gap. 

To address this issue, a common approach that many companies are taking is to first hire Ph.D.-level data scientists. But this has led to a further set of talent issues emerging around AI product development and engineering.

Most firms are yet to fill essential roles such as AI engineers and as a result, we often see poorly managed AI development with costly, unproductive cycles. As we advance further into an AI-fuelled future, organizations that lay a greater emphasis on building a strong foundation of data-literacy skills across the organization now could be rewarded manyfold.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Subramanyam Reddy
Subramanyam Reddyhttp://knowledgehut.com
Subramanyam Reddy, Founder and CEO – KnowledgeHut

More Latest Stories

More Articles

INTERVIEW: ADDA’s Krishanu Mukherjee on Transforming Gated Communities

In an interview with TechGraph, Krishanu Mukherjee, AVP of Growth at ADDA.io, explained how its platform’s deep understanding of local compliance and hyper-local needs...

Choosing the Right Tax Consultant: A Guide for Businesses and Individuals

For both individuals and businesses, tax planning and compliance are crucial aspects of financial management. Selecting a reliable tax consultant demands careful consideration of a number of aspects, especially in the global marketplace of today since tax laws and regulations may differ substantially across...

Life Insurance Death Benefit Payouts: What Your Family Needs to Know

It is important to know more about life insurance policies and their operational modalities....

Wired vs. Wireless Headsets: A Comparative Guide for Evolving Audio Needs

Across a wide range of demographics, including gamers, fitness enthusiasts, business executives, and remote...

Union Budget 2025: Real Estate Experts See SWAMIH 2.0, ₹15,000 Cr State Support to Ease Housing Bottlenecks

The real estate sector views the Union Budget 2025-26 as a step toward addressing...

Union Budget 2025-26 Reactions: EV Makers Welcome Tax Relief and Infrastructure Investments

India’s electric vehicle industry has welcomed the Union Budget 2025-26, citing exemptions on capital...

Preparing Your Staff To Host A Successful Business Event In Another City

A business event, a convention, and exhibition, a trade show - all of these...

TradeFT Review: Comprehensive Platform Overview 2025

The financial markets are abuzz with some pretty exciting developments as 2025 gets underway,...

The Rise of Conversational AI: What It Means for Tech and SaaS Businesses

Back in the time, when AI was not as prominent, businesses used to struggle a lot. One of the biggest challenges was to rely...

Income Tax Slabs Revised in Budget 2025-26: Experts Applaud Relief for Salaried Class, VDA Taxation Still a Concern

With income tax exemption raised to ₹12.75 lakh and revisions in tax slabs, the...

Union Budget 2025-26: MSME Leaders Back Investment Limit Hike, Call E-Shram Expansion Crucial

The MSME sector has responded positively to the Union Budget 2025-26, with experts highlighting...

Evolution of Festival Advertising – A journey from Traditional to Hyperlocal Strategies

When it comes to festival advertising, brand strategies have seen notable changes shape the...

Union Budget 2025-26 Reactions: Education Sector Applauds AI, Skilling Initiatives but Flags Funding Gaps

India’s education sector leaders have responded to the Union Budget 2025-26 with optimism and...

Union Budget 2025: India’s AI Budget Allocation Stirs Mixed Reactions

India’s Finance Minister Nirmala Sitharaman's announcement of a ₹500 crore fund for a Centre of Excellence (CoE) on AI in education has drawn mixed...

Union Budget 2025: Investors, Startups React to Govt’s Push for Fund of Funds, FSS Scheme and Deeptech

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on Saturday, has drawn various reactions from investors and the startup community. The ₹10,000 crore Fund of Funds (FoF) announced in the budget has been welcomed by many as a significant step in strengthening...

Union Budget 2025: Medical Education Seats Increased by 130% in 10 Years; 10,000 More to Be Added

Education sector Budget LIVE: Presenting the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced...

Union Budget 2025: Kisan Credit Card Loan Limit Increased to ₹5 Lakh Under Modified Interest Subvention Scheme

Finance Minister Nirmala Sitharaman, in her Union Budget 2025-26 speech, announced an increase in...

Cash out Tether USDT to Renminbi in Guangzhou

If you need to quickly and safely Cash out Tether USDT to Renminbi in...

Union Budget 2025 Expectations: Insurance Sector Eyes Tax Incentives, Sops to Expand Health Insurance Reach

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025 on February...

Union Budget 2025: Farming, Agriculture Sector Pushes for Greater Subsidies, Policy Support

With Union Budget 2025 just days away, the agriculture sector is vouching for a...

Budget 2025: Pre-Owned Car Market Requests Financing Reforms, Auto Industry Looks for GST Clarity

With the Union Budget just days away, the auto sector is hoping for game-changing...

Budget 2025: Tax Reforms, Infrastructure Financing, and NBFC Support Top Budget Wishlist

As Budget 2025 approaches, experts from the NBFC, finance, and business sectors are voicing...

Adoption of Low Code Platforms by MSMEs for Operational Efficiency of Their Supply Chains

Micro, small, and medium enterprises are the backbone of the world and account for...

IIFL Finance Thane Branch Raided by Income Tax Authorities

The Income Tax Department carried out a search operation on Tuesday morning at IIFL...

Evolution of Festival Advertising – A journey from Traditional to Hyperlocal Strategies

When it comes to festival advertising, brand strategies have seen notable changes shape the...

Union Budget 2025: IIT Student Strength Doubles, ₹500 Crore AI Education Center Announced

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025-26 in Parliament today, outlined...

Union Budget 2025 LIVE: FM Sitharaman Announces Reforms in Finance Sector; Increases FDI Limit to 100%

Finance Minister Nirmala Sitharaman, while presenting the Union Budget for 2025-26 in Parliament today,...

AI in Skill Development: What Budget 2025 Should Do to Close the Workforce Skills Gap

India, with its vast pool of young talent, faces a significant challenge: a widening...

Union Budget 2025 Expectations: Hospitality Sector Urges Budget Support for Tourism Growth and Workforce Development

With the Union Budget 2025 on the horizon, hospitality sector leaders are calling for...

Union Budget 2025-26 Reactions: Education Sector Applauds AI, Skilling Initiatives but Flags Funding Gaps

India’s education sector leaders have responded to the Union Budget 2025-26 with optimism and...

Adoption of Low Code Platforms by MSMEs for Operational Efficiency of Their Supply Chains

Micro, small, and medium enterprises are the backbone of the world and account for...

Krikya Bangladesh Casino App Review

The Krikya app delivers a seamless and engaging mobile gambling experience for users of...

IIFL Finance Thane Branch Raided by Income Tax Authorities

The Income Tax Department carried out a search operation on Tuesday morning at IIFL...