Machine learning as a concept and its subsequent applicability is constantly on the rise. A three times increase in investments by corporates is expected in Artificial Intelligence (AI) by 2025 when the market will be worth a hundred billion US dollars. Machine learning is utilizing AI concepts to contribute effectively in organizations’ work processes. One such being the increased personalization in customer. Service. Another is by enhancing customer loyalty ultimately leading to more fruitful retention. This is happening because granular data is now available on customer wants and needs, thus marketing strategies can be geared up accordingly. AI is also improving talent recruitment, as the mundane tasks can be delegated to computers allowing humans to focus on the creative side. It is allowing the job profiles to be intricately matched with the applicants’ data. Similarly, major finance activities are getting automated. True business intelligence on the brand’s exposure can be measured through various analytical tools and platforms. Frauds can be detected early on before major harm can be done. The supply chains are also better aligned now thanks to intricate algorithms that can weave past news feeds or social data on obstacles. In the near future, machine learning may also be used in other areas of work such as in career strategizing, retail shelf analysis and asset management with the help of drones or satellites.

Source:https://hbr.org/2017/05/8-ways-machine-learning-is-improving-companies-work-processes?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.org%29

Uploaded Date:07/07/2017