October 12, 2017
Rise of the Machines: How Machine Learning Can Benefit Your Business
No, this isn’t the beginning of another Terminator movie. Machine learning is emerging as a major force in the tech industry and is beginning to embed itself in other industries as well. Imagine being able to have a program that grew on its own to better serve your needs? Machine learning is the ultimate in optimization and we’ll walk through how businesses can start using it today.
Machine learning is synonymous with artificial intelligence. Many companies now see artificial intelligence as an integral part of their digital transformations. Machine learning utilizes complex algorithms that help detect patterns and predict future outcomes. Consumers that use virtual assistants such as the Amazon Echo will notice it learns your habits and preferences the more you use it. As time goes on, machine learning builds upon data to become more accurate and powerful.
We already interact with business-driven AI today from customer facing advertisements to trading stocks. Companies can now leverage data to make better decisions and to better service their customers.
Major corporations that invest in machine learning extend far beyond the usual suspects of Silicon Valley and Seattle. A recent Forbes article highlights the recent partnership between John Deere and Blue River Technology to incorporate machine learning and robotics for precision agriculture. From improving hardware to marketing tools, machine learning applies to all industries. In healthcare, machine learning and artificial intelligence will help doctors diagnose and spot irregularities more efficiently and thoroughly. Companies and organizations that can leverage machine learning to increase operational efficiencies will enjoy growth and competitiveness in years to come. In some cases, it will be lifesaving.
One of the best ways machine learning can improve the workplace is the elimination of redundant or non-value add tasks. In customer service, chat bots can help evaluate what a customer initially needs and direct them to the right person to make better use of the time for both employee and customer. Companies can ultimately save time and focus on other core aspects of their businesses. Machine learning, if anything, will change the way people work. While machine learning may threaten some jobs entirely, optimists predict it will further enhance work to help employees become more efficient, strategic and gain increased job satisfaction.