Machine Learning and The Future of Business
Business changes all the time, but advances in today’s technologies have accelerated the pace of change. Machine learning analyzes historical data and behaviors to predict patterns and make decisions. It has proved hugely successful in retail, banking and insurance sectors, to name a few, for its ability to tailor products and services to customers.
Thanks to machine learning, functions such as fraud detection and credit scoring are now automated. This can also be utilized to give customers a much more personalized user experience, recommend new products, and animate chatbots that help with routine transactions such as account checking and paying bills. The potential for change is huge. Question is, how can you tell that a company is ready for this seismic, tech-driven shift?
Other points to discuss:
- What are the benefits and challenges of integrating machine learning into your company?
- Will the concept of machine learning replace human interaction?
- How will AI and machine learning change the BFSI sectors?