Unless you just came out of a cave, you must have heard about machine learning. We cannot begin to describe how it has changed the life we are living, but we will try with this blog.
Table of Contents
What you will learn-
- How machine learning has impacted our lives (we just said that, but here’s once more)
- Future trends in ML
- Some examples of its success
- 4 App categories where machine learning is effective
“Wow! how did they know I wanted this?”
No, not Santa Claus, we are talking about shopping and steaming apps. Shopping apps show you your dream outfits while streaming apps are some mentalists that recommend just the show that you would like to watch.
Are they prophets? When did they read the tarot cards you picked? Who hired wizards at the Netflix office?
You must have wondered why their guesswork is so accurate. Obviously, they do not have fortune-tellers as their employees. On the contrary, you tell them everything knowing-unknowingly. How?
The information that you give to the apps, the choices you make, everything goes to their database. This data is analyzed, understood and acted upon. All this is possible because of machine and data learning.
Machine learning in apps has impacted the way they interact with users. Apps have become more efficient and successfully serve the users catering to their individual needs. Businessmen have started to take note of this. This explains why it is a great idea to develop machine learning applications.
We did a bit of research to find out if the future trends are as promising as the present ones. We are happy to announce, we were not disappointed.
Future Trends In Machine Learning
- According to MarketsandMarkets, the global machine learning market is assumed to reach at $8.81 billion by the end of the 2022.
- The global ML industry growth is predicted to reach almost $9 billion in the latter part of 2022 at a CAGR of 42 percent.
How Machine Learning Has Made the Big Bigger?
- Based on a report by The Relevancy Group, 38 percent of executives are already using machine learning as part of their Data Management Platform (DMP) for advertising
- Netflix saved $1 billion in 2017 by using machine learning to make personalized recommendations
- With machine learning, Amazon has reduced the time between users clicking the buy button and their items being shipped to just 15 minutes on average – a 225% reduction, according to Wolfstat.
To give you a brief idea, we will talk about 4 areas where machine learning apps have proven their importance. Who knows, you might as well get some machine learning app ideas for your business.
4 Best Categories of Machine Learning Apps That are Growing Tremendously
This is one is really interesting. E-commerce apps have been using ML since quite long and they have really made a difference. Remember we told you about Amazon reducing the click to ship time to just 15 minutes?
ML is used to estimate the time of delivery which is pretty important for most of the customers. If it takes too long, they’d rather buy it from a store.
ML is used to study user behaviour and help in predicting future buying patterns. Thus, implementing AI in your e-commerce mobile application gives a huge boost to sales as well as marketing departments.
They would never show advertisements for products that have already been bought by the customer. Instead, show recommended products that other people have bought along with the first product. Think Amazon again. Makes more sense right?
ML-based apps have many more applications in this industry, we know. This is just a glimpse. If you are looking to create your custom e-commerce mobile application then you should implement AI in your application.
Now, think Netflix. No, no. Don’t stop reading to go chill. Just stay with us for a little longer.
Even when you use Netflix in your free time, this might have crossed your mind- 88% match? 62% match? They understand your taste, don’t they?
Netflix uses Artificial Intelligence, Machine Learning, and Data Science to give you the best streaming experience. This is why it is so addictive. In no other time in human history has this much content been created and consumed.
Based on your previous watch list, they can easily predict which other sorts of content would you like to consume. The makers just knew when to use machine learning and how. Result? Biggest streaming platform in the world.
Many other streaming services are now in the market, trying their luck. To be honest, giving a tough competition and sometimes being better.
Important departments of any business can make use of machine learning apps. All they need to know is how to apply machine learning in their tasks.
Your machine learning mobile app can be used to understand and analyze customer’s unique interests and buying capabilities. This way they can make effective marketing campaigns with mobile deep learning means- no more annoying ads but tailored ads for each individual instead.
What are the benefits you can get by applying machine learning to your business applications? Let’s check it out in the below image.
Machine learning tools help HR personnel in hiring new employees by tracking all candidates through vetting their resumes and speeding up the process of getting feedback to applicants. ML apps will also eliminate any sort of bias in the recruitment process.
Even your customer service department can utilize machine learning in mobile applications by letting the AI chatbots do most of the initial conversations with the customer. When enough data is collected, the humans can take over and deal more effectively. Want to develop an AI chatbot?
Also, inventory management becomes easy with machine learning apps. The reports generated by the app can tell you about the products that sell faster or are in much demand. They also estimate when there would be a need for restocking or predict product sales.
Machine learning in mobile apps for education has revolutionized learning structures for the kids as well as educators. We can use the umbrella term- custom learning experience.
Machine learning mobile apps can develop detailed logs for each student, deliver concepts and establish goals that fit their strengths and learning backgrounds. This will help them mold their career paths better
Educators, on the other hand, get an awareness of what methods are working the best with the students, offering modifications that may help students grasp course material better.
Mobile machine learning can also help in grading students’ assignments. This will save the teacher’s time. This gives more time to focus on high priority tasks like clearing doubts and emphasizing on important concepts.
Machine Learning services are infinite but we value your time, hence just gave you an idea.
Build Your Machine Learning App
We receive a lot of doubts like “why or how to create machine learning apps” and “what is the cost of machine learning app development?”. And we are more than happy to answer.
We are a leading software and app development company in Canada. We have built a range of apps for Android, iOS as well as web platforms. We take pride in developing fully equipped websites and apps, complete with UX/UI designs.
As we said, we are here to answer all your doubts. Also, we provide a 30-min free of charge consultation from our technical experts. Just fill-up the contact us form given in the footer and one of our sales executives will contact you within 48 hours.