Machine learning – the present or future?
Many businesses struggle to grasp the concept whereas others have begun to employ this already. The sudden emergence and growth of AI and machine learning push the boundaries of technology.
A recent example would be Google Assistant, a video of which went viral as it was booking hair salon and restaurant reservations with unnerving human-like fluidity. It can pick up different accents with ease, thus illustrating how fast the machines are learning. But, this is just the beginning. Around the world, investments in IT development and technology, especially AI systems is predicted to grow to over $52 million by 2021.
A recent McKinsey Global survey found that 47 percent of companies have implemented at least one AI capability into their business processes, more than doubling the 20 percent that reported using AI the previous year.
Machine learning is helping decrease the workload of humans, especially in time- consuming tasks in numerous fields. Healthcare workers now don’t need to spend time organizing and collecting data, whereas law firms are using intelligent software programs to review documents
and past legal cases, a task which would have taken 300,000 hours before. This doesn’t necessarily mean AI will replace human workers, but rather assist them.
That’s exactly why it’s beneficial for Online marketing specialists and marketing consultants to from their strategies in accordance with the current trends and help them achieve promising results.
A boost from such machine learning method is thus bound to be monumental!
Furthermore, machine learning technology in Marketing is able to actively provide regular insights through precise predictive models. Another common use of machine learning are smart chat bots, who have tailored responses depending on the questions, overtime learning based on the responses people give.
While it will never be able to replicate human intuition, businesses will be more efficient. Whatever industry you are in, machine learning can automate the menial tasks and allow you to focus on the meaningful.