Small and large companies want to get into the wave of machine learning. Big names like Google and Amazon use and abuse this technology. Machine learning (ML) is an AI application that uses statistical and big data models to make predictions about future trends.
Small businesses can also use machine learning
To avoid being surprised by competitors, small businesses know they need to look for the latest technological solutions. In recent years, these companies have successfully implemented SaaS products, cloud-based software, and other digital solutions. Machine learning is just the next step in upgrading your business.
Some industries are mature and perfectly prepared for new machine learningmodels. But all companies can integrate machine learning in a current way.
Machine learning applications in SMEs
- Marketing: machine learning technology helps provide information and improve marketing decisions. In 2018, 43 of the marketing professionals used AI and machine learning to improve predictive models and overcome billing goals.
- Automation: One of the best advantages of machine learning is automating repetitive tasks and increasing productivity. Many companies already use email and document automation informed by AI. Chatbots are another excellent application of affordable machine learning solutions that provide better customer service and adaptive responses.
- Security: Because machine learning tracks patterns in data, algorithms are great for identifying suspicious account behavior and detecting fraud. These tools can be used in financial monitoring and network security.
- SEO: Google algorithms are widely informed by machine learning,so companies should use SEO to keep up. Tools such as Analytics and Ahrefs use AI technology to improve pattern tracking and make new feedback available to customers.
- Customer suggestions: Almost everyone interacts with machine learning daily through personalized suggestions on Netflix or Spotify. These types of predictions can also help personalize ad campaigns and suggest upcoming purchases for customers. When identifying patterns in user behavior, machine learning lets you determine which individual ads are most likely to be relevant to specific users.