Machine learning could bring the following benefits to businesses

• Speech recognition: It is also known as automatic speech recognition (ASR), computer speech recognition, or speech-to-text, and it is a capability which uses natural language processing (NLP) to translate human speech into a written format.
• Customer service: Online chatbots are replacing human agents along the customer journey, changing the way we think about customer engagement across websites and social media platforms.
• Computer vision: Powered by convolutional neural networks, computer vision has applications in photo tagging on social media, radiology imaging in healthcare, and self-driving cars in the automotive industry.
• Recommendation engines: Using past consumption behavior data, AI algorithms can help to discover data trends that can be used to develop more effective cross-selling strategies.
• Robotic process automation (RPA): Also known as software robotics, RPA uses intelligent automation technologies to perform repetitive manual tasks.
• Automated stock trading: Designed to optimize stock portfolios, AI-driven high-frequency trading platforms make thousands or even millions of trades per day without human intervention.
• Fraud detection: Banks and other financial institutions can use machine learning to spot suspicious transactions. Supervised learning can train a model using information about known fraudulent transactions. Anomaly detection can identify transactions that look atypical and deserve further investigation.