finance and product analytics into a single solution . It could bring immense business value due to cost savings ( ditching separate software ) and also help with the data democratisation efforts .

Can you elaborate on the role of Machine Learning and AI in next-generation data analytics for businesses ?

Generative AI somehow drew an artificial arbitrary line between next-gen analytics ( powered by Gen AI ) and ‘ legacy ’ AI systems ( anything that came before Gen AI ). In the public discourse around AI , people often miss the fact that the ‘ traditional ’ AI isn ’ t an outdated legacy ; Gen AI is intelligent only on the surface ; and both fields are actually complementary .

In my previous answer , I highlighted the main challenges of using Generative AI models for business data analytics . Gen AI isn ’ t , strictly speaking , intelligence – it is a stochastic technology functioning on statistical probability , which is its ultimate limitation .

Increased data availability and innovative data scraping solutions were the main drivers behind the Gen AI ‘ revolution ’; however , further progress can ’ t be achieved by simply pouring in more data and computational power . Moving towards a ‘ general ’ AI , developers will have to reconsider what ‘ intelligence ’ and ‘ reasoning ’ mean . Before this happens , there ’ s little possibility that generative models will bring to data analytics something more substantial than they have already done . Saying this , I don ’ t mean there are no methods to improve Generative AI accuracy and make it better at domain-specific tasks . A number of applications already do it . For example ,

Rytis Ulys , Analytics Team Lead at Oxylabs

guardrails sit between an LLM and users , ensuring the model provides outputs that follow the organisation ’ s rules , while retrieval augmented generation ( RAG ) is increasingly employed as an alternative to LLM fine-tuning . RAG is based on a set of technologies , such as vector databases ( think Pinecone , Weaviate , Qdrant , etc .), frameworks ( LlamaIndex , LangChain , Chroma ), and semantic analysis and similarity search tools .

How can businesses effectively harness Big Data to gain actionable insights and drive strategic decisions ?

In today ’ s globalised digital economy , businesses don ’ t have a choice of avoiding www . intelligentfin . tech

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