Machine learning has quickly gained huge popularity in the technology sphere. It is headed for a major growth explosion in the upcoming years. Back in the year 2016, Machine Learning had crossed the $1 billion mark. Experts believe that the Machine Learning market will hit $96 billion by 2025. There are numerous predictions and research analyses being carried out on the size of the Machine Learning Market. In this blog, we discuss how companies are using Machine Learning.
Growth of Machine Learning
Let us first understand where & how will all of this growth come from. Whenever there is a new technology in the market, the first and foremost challenge people discuss is to find one used case. However, if you are not sure of how Machine Learning is going to carve the path towards its growth, then consider all the industries where Machine learning is applied. The explosive technology is applied in every industry today. Starting from manufacturing, retail, media, hardware, etc. the application of ML can be seen everywhere.
How are Companies Using Machine Learning?
When someone uploads a photo to Twitter, they want it to be seen by as many people as possible. However, if the thumbnail is incorrect, no one will click on it. Twitter appears to have found a solution to this problem by utilizing neural networks. Machine learning is being used by the social media company to crop users’ photos into engaging, low-resolution preview images in a scalable and cost-effective manner. As a result, there are fewer doorknob thumbnails.
Target
Target has discovered that machine learning may be used to predict pregnancy as well as purchase behaviour. Target’s model is so accurate that it can accurately predict which trimester a pregnant woman is in based on her purchases.
Apple
In non-technical terms, Apple just filed a patent that suggests it prioritizes cross-device customization. For example, in the near future, Apple Watch could offer an iTunes playlist to match a user’s heartbeat target in another app.
Alibaba
Alibaba is a Chinese e-commerce company with 500 million customers. From searching to purchasing, each of those customers has a unique and different path. Alibaba has a system in place to track and adapt each of those 500 million travels. Of course, using machine learning. Each shopper’s virtual storefront is designed by Alibaba. The products that come up in the search results are perfect. Ali Xiaomi is a chatbot that can converse with you.
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