Machine learning (ML)/artificial intelligence (AI) have been the buzzwords of the past couple of years. ML algorithms are behind most of the technological advancements of the past decade and are rapidly paving the way to the adoption of artificial intelligence (AI) in our everyday lives. But first things first:
What is machine learning and why is it important?
In a nutshell, machine learning algorithms search data to uncover trends and patterns. ML powers most of your favorite services – your recommendation history on Netflix and Alexa’s ability to cater to your needs.
They’re invaluable to businesses across industries because they can easily transform terabytes of data – images, sounds, strings of numbers –into actionable insights.
NLP, or Natural Language Processing, is one of the fastest-growing ML technologies. It’s laying the foundations of machine-to-human interaction, powering smart bots and helpful chat boxes, and reinventing the sales landscape. Put in simpler terms, NLP is AI technology that understands the complex patterns in human language.
The ML algorithms can translate human communication – written or spoken – into a format that the computer understands. It’s behind spellcheckers, translators, voice-to-speech transcribers, and voice assistants and it’s an invaluable tool to “mine”customer data in order to understand consumer behavior.
NLP is far from the only type of machine learning businesses employ. As to why ML has become so popular and why it’s important… companies deal with immense amounts of information on a daily basis.
With the help of AI and machine learning algorithms, they can quickly analyze complex data to deliver accurate results and inform future models. These models, in turn, can predict trends and uncover emerging patterns, as well as provide an organization with a chance to identify opportunities before they arise and anticipate risks.
Future of fusing humans and machines
Are AI robots taking over the world? Contrary to what science fiction may have you think, AI and ML are already here to stay and making the world a better place. Emerging technologies are redefining the boundaries between humans and computers: smart cameras are following shoppers in the store to gauge their mood and help companies provide better services; powerful ML algorithms cross-analyze purchase history to offer fine-tuned recommendations.
NLP solutions are minimizing wait lines and helping sales reps across the world become better at what they do.
Of course, machines have a long way to go to surpass or even reach us. Currently, however, skilled human observation is aided by machine-analyzed data to deliver a robust understanding of retail, sales operations, and consumer behavior.
The future is bright for leaders who partner with companies like Pickle; who can harness the power of AI/ML technologies to turn millions of business conversations into actionable insights in real-time.
Are you ready to get hours of time back in your day and take your team to the next level? Hit the Pickle team up.
