Explore the AI Landscape: Spotlight on Machine Learning

When you think of Artificial Intelligence (AI), what comes to mind? For many, it's ChatGPT, which offers quick responses to your queries. According to the RPS, by August 2024, nearly 40% of people aged 18-64 use chat-based AI, known as Generative AI. However, Generative AI is just the beginning. There are numerous types of AI, many of which operate behind the scenes, driving the success of some of the world's leading companies. 

Other kinds of AI you may not know about:  

**Please note: Self-Aware, Theory of Mind, and Strong AI are purely theoretical and do not currently exist. 

Machine Learning for Predictive Analytics 

Machine learning is one of the most powerful and well-developed types of AI currently known, and it’s impacting every industry.  

Watch the Webinar: Optimization with AI: Predictive Analytics for Smarter Mining 

According to MIT Sloan professor Thomas W. Malone, the founding director of the MIT Center for Collective Intelligence, “In just the last five or 10 years, machine learning has become a critical way, arguably the most important way, most parts of AI are done,” said “So that's why some people use the terms AI and machine learning almost as synonymous … most of the current advances in AI have involved machine learning.” 

Minitab has been leveraging ML behind the scenes to enhance predictive analytics for years. Predictive analytics is essentially data analytics on steroids. If you need to forecast something based on existing data, predictive analytics is your go-to tool. Here are a few ways ML can be applied in the Minitab Predictive Analysis Model:  

• Predict [something] based on [something else] 

• Direct Application: use a PA model to predict the outcome of interest 

• Emphasis on the accuracy of predictions 

• Link to Diagnostic Analytics: use a PA model to explain why such and such predictions are made 

• Emphasis on the explanation of predictions  

• Link to Response Optimization- Response optimization helps you identify the combination of variable settings that jointly optimize a single response or a set of responses. This is useful when you need to evaluate the impact of multiple variables on a response. 

• Use a PA model to discover optimal inputs to achieve a desired outcome 

• Emphasis on the discovery of the optimal inputs 

For those intimidated by all things “AI”, Minitab’s Predictive Analytics is easy to use and will deliver the powerful insight you need to stay ahead. 

Minitab AI: Taking the Best of AI to Power Business Decisions 

We don’t stop at machine learning. Minitab offers proven and proprietary algorithms for predictive modeling and machine learning. By providing traditional methods, like regression analysis,  and more advanced machine learning, like proprietary methods such as MARS® (Multivariate Adaptive Regression Splines), the best tree-based methods such as Classification and Regression Trees, better known as CART® , Random Forests® , and gradient boosting, better known as TreeNet® . Combining the power of generative AI and large language models (LLM), Minitab AI has been created to further our commitment to leverage the power of AI to help our customers gain insights into their data and solve business problems more efficiently and effectively. Minitab AI powers the new Minitab Brainstorm tool and many other features behind the scenes of the Minitab Solution Center.