How These 3 Household Names are Utilizing Machine Learning to Boost Business
Talk of artificial intelligence leads many to immediately think of scenes from popular fiction: computer systems trying to take over the world or robots that have suddenly turned on their human masters. While these stories might make for a good night at the cinema, they are not the most accurate representations of modern AI technology.
If you ask today’s business leaders, they see much more promise in what AI can do to improve the way they operate. In a 2017 survey of executives, managers and analysts, close to 85% of participants said that artificial intelligence will allow their company to obtain or sustain a strategic advantage over the competition.
What Machine Learning Offers to Businesses
Businesses see the potential that AI has to help them make better decisions, develop better products, and get more from the vast amounts of data that are available. For example, companies are going to use technologies like AI and machine learning to develop chatbot tools that can provide better support services than they did in the past. Also, marketers are going to use AI to refine advertising strategies. Even design teams will use it to make products that are more useful.
The recognition of the potential that AI has to improve business has led many of the world’s largest businesses to invest heavily in the technologies that support artificial intelligence. Tech companies are some of the major investors in the market for AI, but you even have traditional businesses like Ford and Walmart investing in the future of this technology.
Machine learning is starting to hit its stride as a tool for business, and in the coming years, its importance is only going to grow. With that in mind, here are three major household brands that are already using AI to improve the way that they operate.
One of the greatest challenges of artificial intelligence is providing machines with natural language processing capabilities. With Alexa, Amazon is one company that is at the forefront of developing machines that are better at understanding and responding to the natural language of humans.
With machine learning, the team from Amazon can analyze millions of interactions that consumers have with the digital assistant. They then use this information to improve the NLP capabilities of Alexa.
For most users, the attraction to Pinterest is the site’s ability to deliver content that is interesting to the individual. Making accurate content recommendations is an important part of keeping users engaged and interested.
At Pinterest, content recommendations are made using an algorithm, and machine learning is used to analyze the millions of interactions that users have with the service. This is how Pinterest ensures that every user gets the right content recommendations at the right time.
Netflix spends billions of dollars on content every year. To decide what content to invest in, they have to do more than just look at what is popular. By using machine learning to analyze consumer behaviors and viewing habits, they can make more informed decisions about the types of content that will bring value to the platform.
Machine learning and AI have already become integral parts of some of the most successful businesses in the world. However, this is just the beginning of what AI can do for business. As the technology develops, it will play a role of increasing importance for businesses in a wider range of industries.