During recent times, there’s been a buzzword going around the digital world called Machine Learning. Machine learning is an incredible practise where computers can make predictions without the need for human input. For all its capabilities, computers are still dumb machines that require humans to intervene. We’ve come to realise that this limitation prevents computers from reaching their full potential. This is where machine learning comes in. Machine learning is a very important concept for artificial intelligence as well. Predictive technologies are expected to be the future, with research worth billions of dollars being poured in it through developments in ‘machine learning’.
The core principle of technology and human inventions has always remained the same ever since the first invention made by man. The purpose is to make our lives easier. We’ve already got computers powering up most of our world. The next step, naturally, is to make these computers more independent and less in need of constant human input. With the help of machine learning, we are doing just that. So what practical applications does machine learning have? As it turns out, many.
Machine learning has proven to be very helpful for financial services due to its predictive capabilities. Machine learning techniques can help financial services make forecasts about future profitability and investment opportunities. Machine learning can also warn financial services of any impending financial frauds as well. Moreover, machine learning is also an integral component of block-chain.
Virtual Personal Assistants
Virtual Personal Assistants are exactly what the name implies. Just like an assistant, these virtual personal assistants exist to help us with our tasks, provide us with information and give us reminders. In fact, in today’s age, everyone has their own virtual personal assistant. These assistants harness the power of artificial intelligence and machine learning to predict what our day and routine is like, giving us helpful tips, hints, and reminders at the appropriate time of day.
These virtual personal assistants are also crucial elements of IoT (Internet of Things) as well. Through home assistant hubs such as Google’s Next and Amazon echo etc. house appliances and accessories can be controlled just by commanding our virtual personal assistants. Imagine a student who is tasked with writing a Assignment Help Online; he now only has to verbally ask a personal virtual assistant to give him information about the topic.
All major tech companies now have their own versions of personal assistants, Google with the aptly named Assistant, Microsoft with Cortana, Apple with Siri and Amazon with Alexa. Clearly, the applications of a virtual personal assistant are aplenty.
Marketing & Sales
Marketing and sales is another field where machine learning has been witnessing increasing use. It has always been tricky marketing to humans. Due to their complex range of emotions, marketing and sales have always remained a profession of experiments. But with machine learning technology, the previous shopping habits of customers can be utilised to target them with advertisements tailored personally for them. This kind of targeted marketing tends to result in much higher conversion. Have you ever seen an ad for something that was searched in another site? Yup that happens as a result of machine learning.