Why is Machine Learning So Important in Today's Business Scenario




Why is Machine Learning So Important in Today's Business Scenario?


  • Industry 4.0, commonly referred to as the fourth industrial revolution is the paving the path    for digitization of the manufacturing sector, where artificial intelligence (AI) and machine-learning based systems are not only changing the ways we interact with man-machine    interfaces but revolutionizing it.
  • Most organizations and corporate deals with huge amounts of data.
  • ML also enables businesses to automate analysis, which was traditionally done by humans.
  • Large enterprises use ML algorithms to identify trends and patterns from diverse data related  to their area of activity.
  • Using ML, organizations can deliver personalized services and differentiated products that  precisely cater to varying needs of the customers.
  • Additionally, ML also helps business organizations to identify opportunities that can be profitable in the long run.
  • Gartner Inc predicted that through 2022, over 75% of organizations will use ML and Deep      Learning techniques. 
  • The global artificial intelligence market size is expected to be USD 390.9 billion by 2025 as  reported by Grand View Research Inc. Feb 5, 2020.
  • The forecast of growth of AI software market worldwide is 154% in 2020,2021, 147% in 2022 mentioned in article titled "Artificial Intelligence software market growth forecast" by Shanhong Liu, Statista report on April 2, 2020.


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