It is now well established that Machine Learning(ML) is going to be a game changer. Chatbots are already impacting a 200 billion dollar industry. Artificial Intelligence (AI) is better known but ultimately a subset of ML. Netflix And Amazon are already reaping the rewards by leveraging Big Data trends of users and customizing content as well as the advertising accordingly. Data from unstructured sources such as text messages, phone calls, videos or images can also be tracked. Using this, search engines provide relevant content and ML can even deduce inferences based on social media usage. Machines are now being used to even manage funds as Black Rock is doing. Authentic business intelligence gets extracted using patterns such as Natural Language Processing (NLP), image categorization and facial recognition as done by Facebook. ML even finds combinations or products purchased together as Amazon is doing using the algorithm of the German firm Otto. External events can be correlated with business information using data on weather, polity, stock markets and government stats.

Source:https://www.forbes.com/sites/forbestechcouncil/2017/06/28/the-machine-learning-imperative/#5e99eeae55d7

Uploaded Date:07July2017