New Delhi, India, December 05: Tools and technologies are here to stay and make our lives easier. Time Series Anomaly Detection is a smart technique that helps companies to track key performance indicators and trends over time. These indicators can range anywhere from tracking clicks to a website to company revenue and inventory management to monitoring anomalous activities on the web. Anomaly Detection is helping in improving conversion rates, reducing churn, bringing in more web visitors, to help define the road map for growth and financial sustainability of any business these days, probably working like any of the CxOs. But is the world ready to trust AI as the next CxO?
Advertisement
Researchers are innovating and developing classic algorithms, like anomaly detection, to uncover far more meaningful insights that are not just good to know but also actionable. In this competitive era, no one has time to go through all events happening around them, understand, translate, plan and work on it. Everyone needs real-time analysis to know what a small change could cause in terms of $$ value. Researchers are putting a cherry on the cake by developing algorithms that are fully automated and, most importantly, trustworthy.
Mr. Aishwarya Asesh, an expert in Time Series Analysis and Forecasting, says, “Anomaly Detection is like a fire alarm, you need it around, but most importantly, it should work in the hour of need.” He further explained, Anomaly Detection opens an opportunity to learn and grow; for a student, it could help in getting better scores, and for any business, it can help make billions.
Advertisement
After months of research, Mr. Asesh invented a technique which is unique and one of a kind. Unlike most of the ML, and AI innovations happening these days, his algorithm is domain-independent and can run at any scale. He said, “The algorithm is customizable to different modalities of data and confidence intervals can be tuned as per requirements”, making the study of time series analysis accessible to all.
85% of businesses agree that AI would help them, but AI is too complex for everyone to understand and expensive to develop. “Yes, these are not simple concepts to digest; Anomaly Detection can help with insights and analysis. Data Scientists, Analysts, excel at strategy and understand empathy. There needs to be a relationship between the user and the computer.” Mr. Asesh added. “People across the need to trust and understand algorithms to build that trustworthy AI-human relationship.”
Thanks to researchers like Aishwarya Asesh, with more robust algorithm development and groundbreaking advancement in technologies, a world where AI as the next big CxO is not far. Executives and researchers are relying on such algorithms and adopting them on large-scale data for making informed critical decisions.
Source by Jacinto Fernandez
