In this age of big data, new technologies and advancements continue to change the way companies conduct business. One of the most transformative developments so far, is that of machines being able to perform tasks historically have required human intelligence. From fraud detection to personalized online shopping recommendations and even self-driving cars, machine learning has become a prominent feature of daily life.
“Machine learning” was firstt defined in 1959 by Arthur Samuel as a field of study that gives computers the ability to learn without being explicitly programmed. More specifically, it is when a machine learns using algorithms to discover patterns among massive data loads, and then utilizes those patterns to generate insights and predictions, which in turn guide smart actions and decisions.
As machine learning allows us to make progress toward human-level artificial intelligence (AI), more and more businesses are taking an interest in this technology to advance their industries.
One of the most popular reasons companies have taken an interest in machine learning is a result of wanting to increase process efficiency while cutting costs. For companies whose success relies on their customers, customer satisfaction becomes not only a goal but also a priority. With machine learning, companies can build chatbots and virtual agents to respond to customer inquiries quickly and effectively at any time of day.
In addition to its popularity in the world of customer support, machine learning serves a wide range of industries in achieving their goals. A prime example of this is IBM Watson. Designed to help businesses work faster and work smarter, Watson offers key products such as:
Watson Discovery: Enables the rapid injestion, enrichment, index and search of data to extract value
Watson Conversation: Enables automated interactions with end users
Watson Virtual Agent: Provides instant and personalized interaction with customers
IBM Watson is just one of the many companies involved in the development of machine learning. Other well-recognized companies including Microsoft Azure, Amazon Machine Learning, Maana’s Knowledge Platform, and APTTUS are investing resources into the continued development of machine learning technologies.
In conclusion, if you are a business owner or employee seeking to drive company sales or improve customer satisfaction, machine learning may be the perfect tool to help meet your business needs. With so many machine learning options available, make sure to compare different machine learning programs to find the one most suitable to your business.
Still, the power of machine learning is not limitless! One of the greatest challenges this technology faces is its vast data requirements. Fortunately for AI and machine learning, the advancement of big data integration can solve many of the issues revolving around large data capabilities.
