Machine Learning

Posted by Chris on 6/23/2017 to Advanced Business
Machine Learning

Machine Learning

The fact is that elements of human thinking involving data gathering-evaluation-analysis, reasoning and decision making has been made possible to be reproduced by machines under controlled conditions. Combined with learning algorithms designed to evaluate decisions taken to improve the ones that will follow, machines are already in position to take over some human activities. The general term used for applications operating like that is what is widely known as Artificial Intelligence. 

In business machine learning and decision making will soon take over the majority of low level decisions like monitoring sales, expiry dates and shelf cycle and reorder on certain stock levels. Higher management decisions like what new products to introduce who will be the preferred provider and basic logistics are expected to follow. The higher the stakes like human and animal life risk, environmental or economic damages the less trust we have on machines. Complex human activities like strategic thinking, risk assessment and content creation including writing, photo as long as video products art and graphic design are not expected to be done by machines in the near future.

At the moment, over 85% of the market experts do not have the knowledge to design such systems and do not feel confident assessing ready-made Artificial Intelligence solutions.

If there is a need to invest in something this would definitely be knowledge either educating oneself or employing or outsourcing such applications to highly qualified professionals. 

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