What is Machine Learning and how can it benefit my business right now?
For the sake of discussion, I simplify the definition of “Machine Learning”, down to: “algorithms which look for patterns that people might overlook in big sets of data.” Machine Learning works best when a feedback loop can be established to “teach” the algorithm on an ongoing basis how correct its previous output was. That feedback becomes a new piece of data the algorithm can use to provide better results in the future.
Like with all emerging technologies it can be hard to find examples of how it can be applied to any one person’s situation. Popular examples of Machine Learning involve self-driving cars and image identification.
Here are three use cases I can think of for how Machine Learning can be applied to small and medium businesses:
As with all emerging technologies, new uses will become apparent over time. We hope these brief examples inspire your thoughts on how you can make use of Machine Learning for your business.
More information on this topic:
Article with Podcast by the O’Reilly Data Show