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Machine learning is much more than a buzzword — it has become a major player for many businesses. More and more companies are implementing machine learning and other AI tools to supplement or streamline their activities. This is especially true after the Covid-19 pandemic accelerated the adoption of machine learning.
The way that your company implements machine learning can have a direct impact on its performance in the year ahead, especially as AI tools become utilized in a broader range of business activities. By understanding the areas where machine learning is poised to have the greatest impact, you can move proactively to adopt these tools for your own entrepreneurial efforts.
Related: Learn How Machine Learning Can Help Your Business
Decision-making automation:
Machine learning’s ability to proficiently analyze and interpret large amounts of data in a rapid timeframe has made it an essential part of many businesses’ decision-making processes. In some cases, these tools can even be used to automate simpler, lower-level decisions that might otherwise be made by customer service reps or others.
In this situation, machine learning draws data from previous actions and trends, and uses available data to recommend the most efficient solution to a problem or request. This allows employees at all levels to spend less time focused on more repetitive decision-making tasks so they can focus their efforts on more in-depth problems.
This is undoubtedly part of why 81% of employees feel AI improves their work performance, with 49% specifically citing improved decision-making.
1. Improved privacy compliance
While many consumers have concerns about big data and machine learning negatively affecting their privacy, machine learning is often being used to enhance privacy compliance and protect data.
In a recent article for the Turkish Journal of Computer and Mathematics Education, Pramod Misra details…
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