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What is Machine Learning and Who’s Using it?

What is Machine Learning and Who’s Using it?

Lately, a lot of people started asking our team about machine learning and the industries who are currently using this technology. Just like us, machines are starting to mimic our human abilities. This specific subset of artificial intelligence aims to train machines to perform data-driven tasks, identify patterns, and make decisions to simplify business operations and most importantly your journey as a customer with minimal human intervention.

Since the rise of new computing technologies, machine learning today is not like the machine learning of the past. Due to its exposure to new data and platforms, its capability to produce reliable, upright decisions and results have gained new momentum. You might ask, what are the publicized uses of machine learning applications that I might be familiar with. Well, we can start with self-driving cars, your movie recommendations from Netflix, linguistic rule creation to identify what your customers are saying about you for example on Facebook, and fraud detection.

For organizations who aim to work more efficiently and gain an advantage over its competitors recognize the great value of machine learning. Especially with industries working with large amounts of data. Here are some insights that we have:

 

Financial Sector:

Banks and other authorities in the financial sector adapt machine learning for a couple of important reasons. First is to recognize important insights in data to identify investment opportunities and help its clients know when to capitalize. Next is to avoid fraud. Since machine learning can execute data mining, it can identify members with high-risk profiles and use cameras to determine warning signs of fraud.

 

Health Care:

Since the rise of wearable devices and sensors, machine learning became one of the fastest growing trends in the healthcare industry. They use it to evaluate a patient’s health in real time while helping medical experts analyze information to discover trends or delicate points to improve their overall patient care.

 

Retail:

Leaders in the retail sector use machine learning to personalize its recommendations to its customers by analyzing and capturing data like previous purchases, buying behavior, interactions, and more to promote a personalized shopping experience and effective implementation of marketing campaigns. The use of machine learning also extends to price optimization, supply planning, and most importantly customer sentiments and live feedback.

 

Transportation:

When we talk about the major key trends in the transportation industry, machine learning is definitely on the forefront. They use it to recognize patterns which deliver reliable and more efficient routes and potential problems to avoid a decrease in profitability. The data analysis and modeling aspects of this technology as tools, help logistics organizations in both the private and public sectors.

Want to know more about machine learning? Talk to us today! Blink is a customer experience company and we want to help you innovate your current customer journey by mapping it, streamline it using intelligent technologies like artificial intelligence, advanced analytics, machine learning, computer vision, beacons, and more. Most importantly, generate a personalized experience for each of your individual customers which will increase your mindshare and produce loyal and active customers and brand ambassadors who will share their great experiences about your business.

Spend 15 minutes with us to discover how we can generate the best customer experience for your business today. Talk to us. +63(2)6263205 | +63 945-500-3127 | or email us at info@blink-digital.com.

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