April 2018CIOAPPLICATIONS.COM6Enabling Better Decisions Machine Learning (ML), a subset of artificial intelligence (AI), is an algorithm that provides the ability to learn and improve from its own experience, rather than being explicitly programmed. In simple words, it means we no longer need to teach computers to do complex tasks; they are programmed with the ability to self-teach and improve their performance. Gradually but inevitably, ML has reshaped our daily lives. Whether we ask our virtual assistant at home to check the weather forecast or use our `smart,' self-driving automobile for the daily commute, it is ML that is making our life more comfortable.Just as we have embraced ML at home, organizations across several domains have also started understanding its potential. Typically, an organization's data, mainly text contained in emails and documents, and those silos of data, has highly important and useful information. The traditional way of making that data useful is to read and process that manually, but due to the high volume, organizations often process just a small fraction of the data, gaining only limited insight. However, the advent of ML has enabled organizations to gain complete insight by processing all the data.ML is a powerful tool that enables organizations to make accurate and predictable decisions about customers, products, marketing efforts, and recommendation engines. A classical example of an ML-based application is the wide array of digital personal assistants like Alexa, Siri, and Google Assistant. Moreover, ML can also help organizations in anti-money laundering, revenue leakage, customer segmentation, and more by disclosing insights that could not be identified before due to historic and slow approaches. According to a KPMG article, by 2020 an estimated 80 percent of business-to-customer conversations will be conducted by a machine, which will have enormous implications for all organizations both in terms of business processes and also future staffing needs.With these future insights and various reports, it is safe to say that the scope and future of ML are vast and still expanding. Organizations are taking interest and cognizance of the possibilities enabled by ML.Do let us know what you think.Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipAPRIL - 10 - 2019MACHINE LEARNING SPECIALCopyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Volume 04 - 13Published by ValleyMedia, Inc. To subscribe to CIO ApplicationsVisit www.cioapplications.com *Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffManaging EditorJoe PhillipGraphics & ArtJohn ConnorDeclan ColeAnil KumarSenior WritersClara MathewRoyce D'SouzaLeah JaneEditorial StaffBen JacksonDowel MajiJune MichaelSwayamsidha BeheraSalesEric Thomas eric.thomas@cioapplications.comEditorialContact UsPhone: 510-838-0854Fax: 510.894.8405Emailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.com
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