How you can affordably and effectively IMPLEMENT the MACHINE LEARNING at your Firm in 2019

 

 

What is machine learning and why it matters?

 

The answer to first part of this question is that Machine learning is a set of technologies that utilize concepts of Artificial intelligence for everyday use, but the second part is a very detailed question and can be explained in depth for days by listing its unlimited benefits. Machine learning is a technological approach which is directly connected to pattern recognition and automated computational learning.

Why it matters is because of its power in terms of providing unlimited benefits to small companies and big organizations. Machine learning, if implemented correctly can increase the overall company’s performance, productivity and a huge increase in sales and revenues.

 

Is machine learning too costly to invest in by smaller companies?

 

Yes and no. I agree that machine learning tools are way too costly for companies who are financially struggling to make both ends meet, but this is a onetime expense and can prove to be a long term, profitable investment. Today companies are investing in machine learning solutions because it gives an accurate prediction about upcoming trends in user consumption and buying behaviors etc. Some of the common practices of machine learning include predictive marketing, sales monitoring, fraud detection, improving customer experiences, automating workflows, customer segmentation and in maintaining dynamic pricing etc.

 

 

 

Affordable ways to implement Machine learning and Artificial Intelligence in your business:

Following are some of the ways how companies can implement machine learning solutions in their companies while keeping it light on their budgets.

 

Developing ChatBots:

Implementing chatbots is super easy and cost-effective. Chatbots provide 24/7 service and make your company seem bigger and customer oriented. Chatbots are a great way to receive instant value and return on investment using Artificial intelligence. Now almost all big companies have installed chatbots on their websites and social media platforms. For example for  Facebook, a few of the affordable platforms for chatbot development include ManyChat, Chatfuel and Dialogue flow etc.

 

 

 

Hiring Experts (Data Scientists & Consultants):

Hiring people who know already what will work in terms of machine learning implementation and what will not, saves not just a lot of time but money also. Although such experts like data scientists and consultants come with a huge price tag they can also bring real value to any company they work for because of their rich experience in data science tools and machine learning solutions.

 

Investing In Automated Machine learning tools:

If you have decided to implement machine learning in your organization, then its time invest in some automated tools like DataRobots etc. These tools can recognize patterns instantly and will be a huge contribution towards successful predictive analysis and an increase in revenue gains and market share.

 

Offering Personalized Content:

This is yet another strong, reliable and cost-effective solution for implementing machine learning and AI in your business. By offering personalized content to customers or subscribers, you can create your brand value and by engaging with them you can gain useful data for future predictions.