Machine learning leverages Artificial Intelligence (AI) for digital transformation. By the year 2025, this along with related technologies could be worth a hundred billion US dollars in the market. There are several ways however using which machine learning is helping companies improve their work processes. As a first, customer service is getting improved by making use of chatbots. Machine learning is helping gauge real time authentic business intelligence on customers’ traits. This is further enabling their individual characteristics to emerge so personalized marketing can be possible, enhancing their loyalty levels. A lot of mundane, repetitive jobs are getting automated, with highest positive impact being felt in finance, enabling the professional from the field to focus on high level strategic tasks. Such automation also helps reduce manual fraud through early detection. Talent recruitment has also improved as algorithms can cut across vast swathes of data, thus eliminating clutter. Similarly, this analytics can also be used to assess the overall brand exposure. A lot of data can also predict upcoming business trends, market needs and forecasts. Even supply chains are now smoother due to better developed algorithms. Other areas, where machine learning could soon further improve operations include Drone or satellite induced asset management, career development and assessment of retail shelf lives.

Source:https://hbr.org/2017/05/8-ways-machine-learning-is-improving-companies-work-processes

Uploaded Date:27/06/2017