In the late 1950’s, the term “machine learning” was coined. As the year 2020 quickly approaches, businesses are embracing the technology of machine learning at a record pace.
Machine learning allows computers to act without being programmed by a human. If you’ve ever had an e-mail from a king in Nigeria sent to your spam filter, or you’ve had Netflix recommended a movie, then you have benefited from the use of machine learning (artificial intelligence). Over the past decade, machine learning has produced self-driving cars and advanced speech recognition programs. It has given us the ability to search the web at a level never seen before. The technology is constantly growing and adapting to new experiences.
Businesses, both large and small, are finding innovative new ways to put machine learning to use. Examples of these applications include:
- Email Spam Filters
- Music & Movie Recommendations
- Face Detection
- Speech Recognition
- Credit Card Fraud Protection
- Online Advertising
The advantages of utilizing machine learning are vast. Business leaders are beginning to see the many benefits of this technology and implementing it into their daily activities. For machine learning to be effective, the following constraints must be understood:
Data is not confined to a database. Machine learning allows questions and answers to be easily evaluated. Key performance metrics can be impacted both negatively and positively. Personnel must be able to interpret the information to solve problems before they occur and act quickly during an upward trend.
Precise Insight into Consumer Behavior
It is becoming much easier to predict consumer behavior and future trends. Customers are not afraid to disclose personal information that is used to predict their needs and wants. This allows them a personalized shopping experience. This is a huge advantage to the business, as it predicts the future needs of its customers, outweighing the competition.
Streamlined Labor Force
The great fear is that robots will take over the jobs of humans, which is simply not the case. The work of humans will become more efficient, with less time spent entering data manually. Their talents will be utilized in many areas that cannot be performed by artificial intelligence.
Machine learning is an exciting concept that allows computers the ability to perform complex calculations, without human input. By the year 2020, a large percentage of businesses will be utilizing this technology. The possibilities for this type of artificial intelligence is endless.