Forbes. Find analytical solutions in known environments, says Vaclav Vincalek
Though machine learning (ML) and AI are becoming more common in the workplace, SMEs often feel daunted by the processes and technologies involved. But it doesn’t have to be such a barrier.
You don’t have to be a professional chef to follow a recipe though -- and in the case of machine learning, you can use little technology to discover a whole lot more.
Tech entrepreneur and partner at Future Infinitive Vaclav Vincalek, has an easy use for SMEs wanting to adopt machine learning into their business:
“Machine learning can be used in robotics, business strategy planning, telecommunications—in other words, wherever the environment is known but the analytical solution is not.
Entrepreneurs and small-business owners can take advantage of ML to see what actions yield a higher reward over the longest period. Financial companies use reinforcement learning for stock trading, for example.”
When there’s an identifiable pattern, machine learning can shine. Though large amounts of data and the trends within them can be unwieldy and impossible to decode manually, using ML can simplify the process, free up time, and remove the opportunity for human error.
Machine learning can sound intimidating, but the use of automated chatbots and digital assistants that are on call 24/7 is easy, approachable and has demonstrable benefits almost immediately.
With all the strains of a new business, using machine learning to automate practices and free up time is more common than you might think.