How is Machine Learning going to Impact Decision Making and Organizational Strategy
Journal Title: Review Journal of Political Philosophy - Year 2018, Vol 0, Issue 2
Abstract
Machine learning has taken over every aspect of business be it production, marketing, finance or HR. This paper looks at how this technology has been utilized in various organizations and the benefits it has provided like predictive KPIs (key performance indicators), marketing and customer service enhancements, predictive maintenance, and many more. We also look at various issues involving successful implementation of machine learning in organizations including human capital concerns, privacy concerns, etc. There are different companies that have leveraged Machine Learning and Artificial Intelligence to their advantage. Tech companies have been very aggressive in their digitalization approach and have even been actively investing in startups to become more machine learning ready. . They are taking big bets, and developing next generation products using AI and ML to increase customer insight and thereby customer experience through enhanced offerings. On the other hand, non tech companies are also resorting to extensive adoption in machine learning and artificial intelligence in order to streamline their business operations and to increase and enhance their product and service offerings. They are doing this more cautiously, and mainly focus on their main markets and sectors. They keenly follow the innovations and potential disruptions to remain competitive. They follow the route of in house development and new product technology testing. They also selectively invest in start-ups or establish partnerships with tech companies, and use machine learning services from them. ML is helping in making the world a better place to live in. In its own dynamic way it is contributing to resource utilization and environment preservation. The use of ML in Uber has helped the individuals and the environment is far reaching with services like ride share , thus reducing the number of cars on the road at a given time and also by recommending best route to the driver and thus saving on fuel and money. Therefore, not only ML is helping transform organizations but also the society.
Authors and Affiliations
Alka Agarwal
Keywords
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