Machine Learning is an application of Artificial Intelligence that allows computers to learn without being explicitly programmed to do so. It's the product of established statistical theory and more recent developments in computing power. Combined, the Machine Learning algorithms offer businesses the opportunity to transform their operations and the services they provide.
While Airbnb brought enormous attention to the short-term vacation rental space, more specialized players are now entering the industry, bringing differentiated offerings to a new trend in hospitality. As the amount of vacation rentals available flourishes, the trickiness in pricing rentals relevant to demand and the competition becomes more critical.
As the impacts of artificial intelligence and machine learning creep their way into every corner of the financial industry, banking providers are finding new ways to transform their approach to creating, producing and distributing their marketing materials. Advanced data analytics can help you build an omniscient system that automatically knows what to send, to whom and when, and do so without raising any compliance red flags.
Exponential progress in artificial intelligence (AI) and machine learning, fuelled by the combination of cloud, big data and new algorithms, is transforming the retail industry. As AI leverages big data to automate, predict and personalize, retail is testing and implementing these applications to garner robust competitive advantages. The key focus for AI in retail is customer relationships. In times of concerns for the retail sector in the UK where sales posted biggest quarterly fall since 2010, the refashioning of this industry comes as a breath of fresh air with many opportunities to come.