We cannot deny that this technology has made its place in many people’s heart. But still, we will tell you a brief introduction to machine learning. Machine learning or ML usually defines as an application of Artificial Intelligence. It has the ability to make computers predict something automatically.
There are two major types of machine learning algorithms. They include supervised and unsupervised machine learning, and each of them has different methods. Then, what are the machine learning applications that we can see today? Believe it or not, many applications of this technology can be easily found around us.
Let’s take a simple example: Netflix. Who doesn’t know this movie streaming app? This app is one of the most noticeable examples of machine learning in mobile apps. This app knows what you want thanks to the application of machine learning. And here are the other applications of this technology.
A company which is dealing with finance can take advantage of machine learning to deal with financial fraud. There is no doubt that fraud is one of the major issues in financial services. Apart from this, machine learning is capable to help predict future opportunities.
In this case, machine learning applications in financial services make it possible to predict a good idea for further investments. Robo Advisors are one of the examples. They are a common application of ML in the financial world. This is an online application which provides automated financial service and guidance.
Moreover, there is also algorithmic trading. It refers to the use of algorithms to hold trades alone. Here, computers execute programs with pre-determined instructions for placing a trade on the market. The instructions typically involve parameters like price, quantity, timing, and other constraints. It allows traders to ensure a viable advantage.
Machine learning can also be found in other trading tools. Back to the protection of financial risk, cyber-surveillance developed with machine learning can protect financial institutions from particular fraud. We can say that this is one of the best machine learning applications that we can see in finance.
When it comes to personal assistants, you may wonder about those who will help to assist and guide for a certain direction. Here, we are discussing personal assistants who are based on machine learning. You are probably familiar with virtual assistants in your smart devices.
Alexa, Siri, and Goole Now are among the examples of virtual personal assistants. You just need to ask something through voice and they will give you the result in no time. These three virtual assistants are based on machine learning. They are running our smartphones and other smart devices to make life easier.
We cannot deny that it is one of the most exciting machine learning applications in our everyday life. In Amazon’s Alexa, for example, you can turn on your lights automatically by simply saying “Alexa, good morning.” Then, you can also play your favorite music automatically if Alexa is running on your smart speakers.
Apple’s Siri is another entertaining application of machine learning. You can easily open the navigation direction by saying “Siri, I’m going home”. After all, there is no doubt that machine learning has been used as the base of many popular personal assistants. And these assistants can help us make life easier.
Nowadays, there are many marketing and sales strategies which are based on machine learning technology. These machine learning applications are beneficial to keep your customers in touch, so they would love to purchase your products again. But, how could it be possible? The answer is simple.
With the help of ML, you can analyze the purchase history of every customer. Then, you can suggest those products in their recommendations. As a result, the customers will choose to buy from you again next time. It makes a nice strategy, especially if you want to maintain your relationship with customers.
There are also some ways that machine learning helps to enhance modern marketing. First, it can help to optimize content in your online shop. Machine learning can focus on analyzing issues and processes, as well as searching for a way to optimize them. A/B testing is the popular method used here.
Other machine learning applications in marketing can be seen through Amazon’s success with e-commerce personalization. This e-commerce personalization is based on machine learning. Thanks to this technology, Amazon can gain huge data on their customers’ behaviors, past purchases, and interests. The result can be used to enhance customers’ shopping experience.
Aside from the areas mentioned above, there are some other notable examples out there. For example, is the application of machine learning technology in traveling. Nowadays, people love to travel by relying on GPS navigation. Here, machine learning is used to predict upcoming traffic by connecting with GPS.
Moreover, machine learning has also been applied in the healthcare industry. Machine learning applications in healthcare play essential roles. Sensors which are based on machine learning can be used to learn the data related to the patient’s blood pressure, heartbeat, and overall condition. They are then can be used for diagnosing upcoming patients.
Social media services are getting more machine-learning-based as well. Social media begins to send you some ads which suit your particular interest. This is the result of machine learning. Facebook is one of the social media platforms that take advantage of machine learning in suggesting friends or pages.
In conclusion, the use of machine learning has been so wide today. It has been using in various sectors including finance, healthcare, marketing, and many others. The good news is that each application of this technology has helped our life to be easier. Hope you enjoy these top machine learning applications!