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Kavii SuriTop Contributor
GEEK | Content Writing Intern | Pursuing CS | Exploring ML and Data Science
Asked a question 2 years ago

How can ML help in the growth of my startup?

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Kavii SuriTop Contributor
GEEK | Content Writing Intern | Pursuing CS | Exploring ML and Data Science

ML is the buzz word now-a-days, let's look at what benefits can it give you?

Machine Learning is a technology that is an outcome of artificial intelligence. It is very important to update oneself regarding development in the machine learning field. It is very important to understand that machine learning is the need of the moment. Large companies like Amazon have already understood this. They recommend products based on the machine learning algorithms that are generated as a result of the purchase history of the consumers. They are better able to work on the expectations of the customers due to the use of ML technology. Startups must learn a lesson from this and attempt to employ machine learning strategies for their enterprises. This is useful because it helps the startups to maintain a fair share of the market by capturing the consumer data. There is no need for a pre-trained model of AI technology in this field to bring about quality machine learning.

 

Enhancing Customer Service Experience

Machine Learning algorithms help companies read the activities of the consumers. 

Machine Learning and Social Media Marketing

Machine Learning can be of immense help in the social media marketing efforts of a company. It is very important to act on the spur of the moment when it comes to social media marketing. Machine learning algorithms help you automate your social media marketing skills. This ensures that regular company posts are done on the web site of the company and several other social media sites. This ensures quality social media presence and quality blog posts for the company. ML is of immense importance in this sphere because it helps companies to track the social media behavior of the customers. This, in turn, helps to do target marketing or campaign-based marketing whenever the need arises. The prospects for revenue generation are also increased in such a scenario. It helps to create a uniform corporate presence for the company across different platforms

Machine Learning and the Consumer Durable Industry

Startups in the consumer durables industry face the highest risks due to the volatile nature of the market. It is here that machine learning can be of immense value. Machine Learning enabled services can easily adjust to changing customer requirements. Companies that are going to be late in adapting to this wholesale AI-based Machine Learning Environment are likely to be at a loss due to the inability to adjust to a business environment in tremendous flux. How would that day be when your bowl could remember when it last had pasta and it reminded you of your cause of craving. In a world where the internet of things has been on the rise in combination with AI and ML, this would not be fancy but a fact projected into the near future. Software developers and AI architects, it is your turn to bring the erstwhile science fiction to reality!

Machine learning is the one of the fastest growing technologies for the business of the future. Many companies are using AI-driven software to increase efficiency, improve customer relationships, and boost sales.

NLP(Natural language Processing)-

NLP is an approach make machines understand the human language. With the help of AI-driven programs which learn from past interactions and mistakes, it is possible to make machines understand regular human speech. E.g. applications like search engines and voice-activated assistants are beginning to understand regular human speech. Just as importantly, these programs improve their accuracy every day. By using AI, personal assistants can be developed which can help increase the efficiency and grow the business in several ways like includes making appointments, scheduling meetings, adding events to a calendar, booking flights and hotels, and more.

Manufacturing - 

The manufacturing industry has wide applications of Machine Learning. Using AI-driven technology, businesses can save money by making production more efficient, optimizing the inventory management and predicting equipment breakdowns or detecting faults before they happen. The massive amount of data generated can be processed & stored by ML efficiently which saves a lot of time of the managers. This data can be conveniently used later for other operations.

Data Science –

Data science helps business professionals in making appropriate decisions. With the help of data science, the feedback from customers can be categorized into positive or negative feedback and based on that proper steps can be taken. Data science is also used in analytics to see the progress, growth of the company in the market.