If machine learning were a kid in school, it would be the most brilliant and coolest student.
We've all heard about how important machine learning has become, but what do we really know about the impact it has on how we make decisions daily?
Machine learning (ML) has transformed how we as humans interact with machines, technologies, and data. But it wasn't always so popular; what started out as a niche industry has grown into a billion-dollar market.
Today, machine learning forms a part of every industry you could think of: healthcare, finance, entertainment, retail, and manufacturing. It has become essential for businesses to adopt ML to boost revenue, cut costs, and automate operations.
In a world that thrives in disruptive technologies, these 51 machine learning statistics will help you navigate your way through this cryptic field.
Machine learning is defined as the way in which machines learn from identifiable patterns to automate processes. It is a branch of artificial intelligence (AI) and aims to improve and automate data with little scope for human intervention.
Here are some fascinating ML statistics to highlight its vital role in our lives.
accuracy was demonstrated when using machine learning to predict the mortality of COVID-19 patients.
Source: Nature.com
ML is being adopted by businesses, small and large on a massive scale. With several tools flooding the AI market, companies are running neck to neck to identify, analyze and leverage data insights. ML adoption is higher than ever, with product/service development, operations, and sales and marketing witnessing the highest increases in ML use cases.
If you've been around in the business world for a while now, you know that ML is the future. The rapid pace of changing technologies opens more opportunities for ML to drive innovation in conventional business processes. Investing in ML is going to become imperative for any business to survive in the digital age.
Sales reps are often on the fence about adapting to new methods of selling, or are they? As recent statistics show, an increasing number of sales departments are taking to ML to help move the customer quicker through the sales funnel. It is gradually becoming one of the most valuable sales enablement tools for better conversions.
of companies worldwide will be using AI in at least one of their sales processes.
Source: Venture Harbour
Customers have changed and so have their expectations. To market your product effectively, you will need access to highly personalized content and user experience along with intelligent campaigns. Machine learning will give you exactly that.
As the need for ML continues to grow across industries, there is a growing demand for data scientists, machine learning engineers, ML scientists, AI application engineers, data analysts, and more. This is quite literally the best time to make a career in the AI field; here's why.
increase has been seen in the number of jobs listed for data science on LinkedIn.
Source: KDnuggets
Sources:
Machine learning is a fundamental part of artificial intelligence, it quite literally will teach itself and your business processes to get smarter. Adopting to and investing in machine learning is bound to reap valuable insights for your business and for the next online parcel you are waiting on. ML is changing a lot about our lives. The least we can do is give it more collective thought.
Want to delve deeper into the world of artificial intelligence? Read up on deep learning, the subset of machine learning that mimics the human brain’s functioning.
Give machine learning software applications a try and find yourself spending less time on business operations.
Aayushi Sanghavi is a Content Marketing Specialist at G2. After graduating with a degree in communication and psychology, she found her interest in writing on the internet. She has written on topics such as Business, Tech, and SaaS and has a passion for learning about SEO along the way. Currently, she specializes in creating content in the customer service space and believes in the power it can have on conversions. She’s either reading, dancing, or exploring the city of Chicago in her free time.
Give machine learning software applications a try and find yourself spending less time on business operations.
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