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4 Ways Machine Learning Is Changing The Way We Do Business

machine learning

4 Ways Machine Learning Is Changing The Way We Do Business

Machine learning is the biggest change to the IT industry. It is the process of using artificial intelligence to manage and digest vast amounts of data, identify trends and patterns and then make decisions based on these patterns – all with limited input from a human being. The use of machines to carry out an array of tasks in the workplace is becoming increasingly common – here are a few of them…

1) Cyber Security

Traditionally cyber security practices have been laborious tasks for the humans carrying them out. With the rate that devices and data is expanding, this is only going to increase. With machine learning, tools can be used to quickly and effectively flag suspicious activity based on an irregularity in a pattern without the need for human intervention. According to Microsoft, by 2021, machine learning in cybersecurity is predicted to boost spending in big data, intelligence and analytics, reaching highs of £71.9 billion.

2) Customer Engagement

Machine learning is enabling businesses to get closer to customers than ever before – without the extra manpower. The introduction of chatbots has allowed for businesses to use machine learning to carry out conversations with customers and clients based on a series of algorithms that would otherwise be done by a human being. In addition, machine learning can be used to identify key patterns in consumer purchase behaviour, and then make informed recommendations for future products and services based on this behaviour. Amazon and Netflix are already leading the way in this arena.

3) Employee Communications

With heavy scepticism around AI’s relationship with employees in the workplace, Information Age discuss how machine learning can in fact be used to enhance employees roles within an organisation by supporting workplace communications. They explain that machine learning tools can be used to capture data from staff meetings and voice and video conferences that would not otherwise be possible, and aid in decision-making.

4) Virtual Assistants

Virtual assistants can be used in the workplace to undertake menial, time-consuming and repetitive tasks such as arranging appointments, answering emails and making lists. These “virtual butlers” can be controlled using voice command and can free-up time for staff to focus on doing their job, without the burden of admin. At the moment, tasks requiring creative and manual labour are beyond the reach of a virtual assistant, although this gap is quickly lessening. For example, healthcare organisation Babylon is working on creating an app that can diagnose health issues using machine learning based on large amounts of health data.

What are your thoughts on machine learning? Are you already using it in your business? Let us know in the comments below.

 

 

Katie Holloway
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