Machine learning (ML) is a subset of artificial intelligence (AI) that enables machines to learn from data and improve their performance over time without being explicitly programmed. In business, machine learning is used to analyze vast amounts of data, identify patterns, and make predictions, thereby enhancing decision-making and operational efficiency.

Key Applications of Machine Learning in Business

Fraud Detection

Machine learning algorithms can efficiently detect patterns of fraudulent activities by analyzing vast amounts of data. This helps financial institutions, e-commerce platforms, and healthcare organizations safeguard against financial losses and ensure secure transactions.

Customer Segmentation

By analyzing customer behavior, preferences, and demographics, machine learning enables businesses to categorize their customer base into distinct segments. This helps in tailoring marketing strategies and providing personalized experiences, ultimately improving customer satisfaction and loyalty.