Artificial intelligence or its subset called machine learning (ML) is not a new word to organizations. Many companies have started to adapt technologies during the on-going global pandemic, COVID-19.
According to Algorithmia’s 2020 report, machine learning has a wide range of applications, and the main use for machine learning translates to chatbots, customer service, and internal cost reduction.
A machine learning model called Dynamic pricing or sure pricing gains insights from factors such as customer interest, demand, and history in order to adjust prices and attract customers for purchase. Machine Learning is used in telecom analytics called Churn modeling in order to forecast the likelihood of customer loss and the required measures to be taken to attenuate the churn. Companies have also started to use cloud technology, which makes AI and ML be more accessible.
Amazon web services (AWS) offer amazon cloud services that cater to a wide range of machine learning solutions on the cloud, with the company claims that more machine learning happens in their cloud. Amazon SageMaker is a service that caters every developer and data scientist the ability to build, train, and deploy machine learning (ML) models. The company has developed a particular platform for machine learning, with an inference chip called Inferentia, which is useful for applications like search recommendations, dynamic pricing, and customer support.
Google cloud platform is a set of cloud computing services offered by Google. The platform caters infrastructure as a service, platform as a service, and serverless computing environments. Google cloud’s AI platform combines and integrates the angle of machine learning, starting from data storage and labeling to training to deployment.
Microsoft’s Azure cloud platform consists of built-in machine learning services for companies to incorporate machine learning models. Azure has a focus on the jeopardies of machine learning, building in called responsible machine learning solutions to alleviate bias in models.
Cloud technology is application software that stores data on remote servers, which can be accessed for later use. With the increase of machine learning services on cloud becoming unavoidable to decrease the operational costs and giving ways to new possibilities, expects companies to use the technology in the run.
