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25 Apr 2022

Artificial Intelligence and Machine Learning

Date : 25th April 2022

Time : 11:00 AM to 1.00 PM

Venue : ACS College of Engineering

ICFAI Business School (IBS) organized student development program on “Artificial Intelligence and Machine Learning” for the students of ACS College of Engineering, Department of CSE, on 25-04-2022.

ICFAI Business School (IBS) was established in 1995 with case-based learning methodology as a corner stone that enables students to understand the complexities of real-life business situations. This unique methodology helps hone the decision making and analytical skills that come-in handy when the students become a part of the corporate world.

“Real Life Learning. Real World Application”

Artificial Intelligence and Machine Learning are game-changing technologies that are transforming the world around us. With businesses leveraging them to improve performance and productivity, there is an urgent need to address the skill shortage that continues to be the biggest challenge constraining AI adoption.

Artificial Intelligence and its subset Machine Learning (ML) are the fuel that drives digitalisation around us today. These emerging technologies lie at the heart of Industry 4.0, commingling machines and humans, and augmenting the capabilities of each to drive transformation across economies and our lives.

AI and ML technologies have been game-changers in every sphere of business, revolutionising every function, from planning to organising, operating, and controlling. It has led to improved efficiency and accuracy with reduced wastage of resources.

Some of its benefits are:

1)Reducing Human Errors 2)Increasing Accuracy 3)Multi-tasking 4)Augmenting Capabilities 5)Increasing Efficiency.

India has been leading the global field with the highest adoption of AI during the pandemic, leaving behind developed economies like the US, UK, and Japan. The field is led by the travel and hospitality sector with an 89 percent adoption rate, followed by telecom, media, and technology firms at 86%, financial services at 82 per cent, and healthcare and pharma at 73 per cent. More importantly, AI adoption is now across different functions from customer service to human resources, finance and tax, manufacturing, operations, sales and supply chain, R&D, legal and compliance.

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