What is Machine Learning
Machine learning has been booming lately since the technology industry found new ways to simplify our lives. This technology called Machine Learning is used not only by individuals, but also by businesses that want to increase their profit in a short period of time. Most people who hear about Machine Learning for the first time consider this technology is synonymous with Artificial Intelligence, but this is further from the truth. Machine Learning is a branch of Artificial Intelligence that focuses on learning patterns automatically and gives computers the opportunity to build working algorithms without human presence.
What is the importance of Machine Learning
The increased amount of information in recent years has led to Machine Learning functions expanding to full capacity. The development of this technology has allowed companies to improve customer experience for example, Machine Learning is used by YouTube to send video recommendations to users based on a history of searches and behaviour pattern. In addition to optimizing customer experience, companies can improve processes, adapt to new technologies and, most importantly, understand customer needs in more detail. Not only it helps individuals to have a better experience on social platform, but it has on impact on businesses that want analyse their energy data, run management maintenance properly and build a successful business strategy.
How Machine Learning affects the business environment
- Cybersecurity
The use of Machine Learning in cybersecurity has made it possible to analyse cyber-attacks in detail and, at present, teams dealing with protecting companies can respond in real time against them. The integration and use of Machine Learning in cybersecurity gives companies the opportunity to:
- Integrate Machine Learning in email monitoring
- Automatically detects and prevents threats
- Manage a large volume of data
- Analyse previous attacks and prevent similar threats
- Financial Analysis
Financial analysis is a vital activity for all companies. This activity has not been easier since the advent of Machine Learning. ML or Machine Learning has begun to be used by large companies around the world to manage investment portfolios and spending, detect fraud that may occur during a transaction and many other financial activities.
- Customer Satisfaction
Customer loyalty is one of the most powerful asset companies can have. Repeated acquisition and prediction of buying behaviour will allow businesses to reduce marketing costs and ultimately can increase business performance. Companies that have integrated Machine Learning manage to personalize the customer experience through suggestions based on past acquisitions and interactions also improve the support service
Conclusion
The impact of Machine Learning on the business environment is a continuous one. With a variety of benefits, this technology has opened new opportunities in a lot of industries, such as: retail, production, pharmaceutical industry, etc. This technology can streamline any company and increase our productivity in the workplace.