While it might seem new and intimidating, machine learning in business is already bringing massive benefits to companies and consumers alike.
From increasingly effective product suggestions to accurate journey time predictions and advanced customer analytics, machine learning is an incredibly powerful tool which lets you analyze every important aspect of your business without wasting human hours on the task.
But what exactly is machine learning, and how do you go from knowing that to actually using it?
“Instead of using labels to teach an AI what each object it’s looking at is, this DeepMind project teaches itself because it learns to recognise images and sounds by matching them up with what it can see and hear.
This method of learning is almost exactly like how humans think and learn to understand the world around them.” – Vaughn Highfield, How Google DeepMind is learning like a child: DeepMind uses videos to teach itself about the world
In this article we will cover:
- What is machine learning?
- Benefits of machine learning in business
- Applications of machine learning in business
- Different types of machine learning in business
- Real-world examples of machine learning in business