Interest in machine learning has exploded over the past decade. You see machine learning in computer science programs, industry conferences, and the Wall Street Journal almost daily. For all the talk about machine learning, many conflate what it can do with what they wish it could do. Fundamentally, machine learning is using algorithms to extract information from raw data and represent it in some type of model. We use this model to infer things about other data we have not yet modeled. Neural networks are one type of model for machine learning; they have been around
Machine learning is proving its power across virtually every industry in ways that add actionable insight and efficiency. But one can look at the rise of this transformative paradigm with a more focused lens to see AI technologies as a business tool of the highest order, one that improves processes and inspires new models. AI, in other words, has a big role to play on the balance sheet.
Two leading brands in very different spaces — Capital One in financial services, John Deere in agriculture — are seeing efforts that stretch back decades come to fruition with the launch of cloud-based AI platforms. Capital One is developing digital products and experiences using machine learning to help millions of customers with their financial lives; John Deere’s Precision Agriculture solution helps farmers gain precise information about their machines and crops. In both instances, AI and a cloud platform combine to enable transformation.