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The machine learning App and software market is expected to be around US dollars 8.8 billion by the year 2022, within an astounding growth rate (CAGR) of 44 per cent. The engineers and software professionals specializing in the domain are in huge demand today. Machine learning involves mining of data, its analysis and learning and also processing of new data chunks. The superior and digitally evolved technology and the method of machine learning can use big data to create new opportunities for businesses and to capture and analyze the untapped business model areas for better exploration.
Applicable Across Industries in India and the World
The machine learning App data usage and analysis model is applicable across industries. It reduces the programmer workload and allows him to focus on key areas. The machines can automatically process and analyze data including the most complex of information and figures to reveal accurate analysis and outcomes that can be instantly used towards reaching to better and more informed decisions. An artificial intelligence model, machine learning allows the computers to learn automatically and help them analyze information without the need for an explicit program. Implementation of the machine learning model reduces both cost and time incurred towards processes involving data processing and makes the businesses in India more competitive and efficient.
Fast and Measurable Results
Machine learning forms the “executable” component of a Data Analytics program. Data from different sources are pooled and analyzed and the process provides for dynamic efficiency and promptness. For instance, in the year 2012, a company acquired the robotics firm Kiva, used machine learning to automate its logistics and warehouse processes and consequently the shipping time was reduced from 75 to 15 minutes.
Some of the important benefits that machine learning and artificial intelligence Apps and software have in store for Indian industries include:
- Simplification of marketing
- Accurate sales forecast
- Simplification of data entry and documentation
- Better and more precise implementation of financial regulations and rules
- Predictive maintenance for the manufacturing plants, units and industries
- Efficient customer segmentation
- Better evaluation of the life of a product or product cycle
- Qualitatively improved products as in Healthcare industry (in the form of medical devices and machines)
There are many other benefits that machine learning apps/software and Artificial Intelligence can offer to the Indian industries and the consumers as well. The machine learning apps are going to be adopted by industries throughout various business segments to be more competitive, sustainable, accountable, and profitable in both the short and long run.