It’s “Productivity”.

With the advancements in the technology, it’s quite evident that automation and artificial intelligence will continue to affect enterprise’ growth in a big way. Machine learning which fall under the umbrella of artificial intelligence (AI), has advanced rapidly over the decade and has become more accessible for enterprises to adopt. It won’t be wrong to say that machine learning will dramatically change the way enterprises do business.

The fascinating part about Machine learning is the fact that machines can learn features freely, precisely and in most of the cases large quantities of data can be introduced to ML Model which can prompt them to take independent decisions.

As computer machines are increasingly becoming smarter and capable of self learning, reasoning and determining the best course of action in real time, enterprises are poised to gain sustainable competitive advantage but researchers consider that Machine learning is still at nascent stage and its adoption among SME’s will take a little more time than expected.

So the million dollar question that keeps ticking in our mind is “In near future, will the evolution of Machine Learning replace human intervention in enterprises for decision making”? The answer to this question is quite tricky. Many experts believe that business decisions are not merely about evaluating options and choosing one but these decisions also require ethics and consideration of other intangibles that humans are accounted for. A balance can be created between humans and machines (AI) where humans can instruct computer to evaluate options and suggest for best possible outcomes for making a decision. This type of cooperation can take any enterprise to the next level of productivity.

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It is no big surprise that machine learning/ artificial intelligence has increasingly gained more popularity in the past couple of years. In the digital era, data is rapidly expanding and so is the need of analyzing and understanding this huge data for making right decisions. Big Data arrives as the hottest trend in the IT sector at the moment; machine learning is an incredibly powerful tool to make predictions or calculated suggestions based on large amounts of data. Most common example of machine learning is ecommerce websites algorithms to make product suggestions based upon the choices made by you as a customer.

What is machine learning? In simple terms, Machine learning is the practice of educating a computer about finding patterns and making connections to understand huge amounts of data. So in order to finish a given task, the machine does not use any programming software and instead of doing that it looks at the Big Data and algorithms to find out patterns for accomplishing it. Machine learning enables applications to look for patterns in the data, think and make wise decisions in the future.

Why Machine Learning is Relevant Today?

Machine Learning solutions are serving to a variety of sectors for optimizing organizational processes such as:

Automotive & Manufacturing: Identifying and navigating roads and obstructions in real-time for autonomous driving, Predicting failure and recommending maintenance on vehicle components, predicting outcomes and minimizing R&D costs, optimizing manufacturing costs are some of the tasks performed by machine learning.

Health-Care: Machine learning helps in diagnosing known diseases from scans, biopsies, audio, and other data. It is also useful in predicting personalized health outcomes to optimize recommended treatments. Machine learning can evaluate doctor’s performance and provide outcome-improving feedback.

Finance: Machine learning is extremely useful in identifying fraudulent activities using customer transactions and other relevant data as well as it is quite helpful in discovering new trends, risks and benefits for predictive analytics.

Telecom: Machine learning can predict lifetime value and risk of churn for individual customers. It is used to allocate the resources, make radical personalization for individual prospects, and forecast demand trends.

Retail and E-Commerce: Machine learning is used for product recommendation, price and product optimization, demand and supply optimization, making customer support a better experience in terms of precision in delivering solutions.

At fusion informatics, our machine learning services deliver solutions that are focused on enabling personalized and engaging customer experiences as well as optimizing organizational processes.