Question

What factors are leading to the new explosion in machine learning now used by organizations and making its way into consumer products? Research firms that provide low-cost access to machine learning tools and give examples of products and services developed using these technologies.

Answer 1

A couple of factors are leading to the new explosion in machine learning now used by organizations and making its way into consumer products. First of all organizations have access to growing volumes and varieties of available data and they are looking at using this data in a meaningful manner that will help them to provide tangible benefits to the consumers. Secondly organizations now have access to computational processing that is cheaper as well as more powerful. This combined with affordable storage makes a compelling case for organizations to focus on machine learning. Hence organizations are using machine learning more than ever before for the purpose of identifying profitable opportunities and for avoiding unknown risks.

There are quite a few firms that provide low-cost access to machine learning tools. For example companies like Quantiphi, Prolifics, Fayrix, MobiDev etc. Examples of products and services developed using these technologies are:

· Self-driving cars of Waymo – These cars make use of machine learning tools and has created cars that can drive themselves without a human pilot. Waymo's cars use machine learning to see their surroundings, make sense of them and predict how others behave.

· CRM (customer relationship management) products of Salesforce – Salesforce used machine learning tools and developed its proprietary Einstein machine learning technology. This technology allows businesses that use Salesforce’s CRM software to analyze every aspect of a customer’s relationship.

· Viewing suggestions service by Netflix – Netflix uses machine learning tools to curate its collection of shows and movies and then recommend it to the subscribers based on their streaming history and habits.