Emerging technologies like machine learning (ML) and artificial intelligence (AI) are the most sought after now. Leading organizations are adopting these technologies that mimic human behavior and assist in building customers and expanding operations.
Initial fears that ML and AI will replace jobs are disappearing and more believe that adoption of these technologies will help humans and machines work together. Recognizing these opportunities, leading organizations have embraced them, building successful business operations.
Top Five Machine Learning Success Stories
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Honeywell
The company’s sales team uses AI to prioritize meetings and manage leads for their construction vehicles, industrial machines, and avionics systems. A virtual assistance Tact.Ai collects data from Salesforce systems and Honeywell’s Microsoft Office 365. With this software, the sales team can check whether they are in line with their goals and view statistics on their interaction with customers over business proposals. This has helped in increasing the number of face-to-face meetings, and sales conversions.
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American Express
They rely heavily on machine learning and data analytics to detect fraud in real-time and save millions. Currently, they have processed $1 trillion in transactions and have 110 million AmEx cards in operation. The company also uses machine learning to develop apps that connect the cardholder with products/services and special offers. AI and ML have also helped provide industry peer benchmarking and online business trend analysis.
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Pitney Bowes
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This 100-year-old office shipping and mailing services provider has been working with machine learning for the last eight years. It uses the ML software to predict the likely failure of mail and parcel stations. In case of a potential malfunction, the software schedules a service technician to work on the machines. ML is also used to optimize shipping return volumes by supervising parcel routes and identify anomalies in processing.
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Office Depot
Office Depot uses machine learning to develop customer insights and recommend products suited to their needs. It uses advanced AI/ML capabilities like XGBoost and random forest to develop customer personas and predict customer lifetime value with product affinity.
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Walmart
Walmart is using cutting edge machine learning and artificial intelligence capabilities to transform retail service and provide better service to customers. With the use of big data, machine learning, and artificial intelligence, they strive to provide a seamless online experience as well as the in-store experience. Features like Scan and Go on the app, Pick-up Towers, and facial recognition technology are used to build customer experience.
