You may have heard how companies like Google and Facebook use machine learning to drive cars, recognize human speech, and classify images. Very cool, you think, but how does that relate to your business? Well, consider how these companies use machine learning today:
- A payments processing company detects fraud hidden among more than a billion transactions in real time, reducing losses by $1 million per month.
- An auto insurer predicts losses from insurance claims using detailed geospatial data, enabling them to model the business impact of severe weather events.
- Working with data produced by vehicle telematics, a manufacturer uncovers patterns in operational metrics and uses them to drive proactive maintenance.