{"id":14087,"date":"2021-01-29T08:22:04","date_gmt":"2021-01-29T08:22:04","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=14087"},"modified":"2021-01-29T08:34:58","modified_gmt":"2021-01-29T08:34:58","slug":"ai-and-ml-as-an-inexhaustible-source-of-business-opportunities","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/","title":{"rendered":"AI and ML as an Inexhaustible Source of Business Opportunities"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-14088\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2021\/01\/Artificial-Intelligence.png\" alt=\"Man configuring AI\" width=\"800\" height=\"419\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/01\/Artificial-Intelligence.png 1024w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/01\/Artificial-Intelligence-300x157.png 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/01\/Artificial-Intelligence-768x402.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Artificial Intelligence is a super hot topic at the moment. But most people don\u2019t know how to fully grasp it. You\u2019re probably interacting with AI more than you realize. It decides if your incoming email is spam, if you\u2019re qualified for a loan, and whether or not that person on a dating website is a good match for you. Even down to the music suggestions you are listening to on Spotify and <\/span><a href=\"https:\/\/www.apple.com\/siri\/\"><span style=\"font-weight: 400;\">Siri<\/span><\/a><span style=\"font-weight: 400;\"> directing you to the nearest restaurant. And all those things are not actually magic and in the \u2018future is now\u2019 clich\u00e9 kind of way you are on the receiving end of this technology every single day. So, the future isn\u2019t now. It\u2019s actually yesterday.\u00a0<\/span><\/p>\n<h2><i><span style=\"font-weight: 400;\">Why are AI and Machine Learning So Important?\u00a0<\/span><\/i><\/h2>\n<p><span style=\"font-weight: 400;\">Training an algorithm to predict future outcomes, using a principal component model to learn about your clients\u2019 personalities, analyzing text to extract sentiments automatically on your product and grouping 650,000 lines of data to cluster clients into different segments with machine learning \u2013 all sounded like rocket science to millions of entrepreneurs some 15 years ago. Now lots of ecommerce business owners do it as easily as they use Excel or Illustrator. So, if you want your business to succeed right here, right now, make sure to harness the potential of AI and machine learning.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you\u2019re still hesitant, follow the <\/span><span style=\"font-weight: 400;\"><a href=\"https:\/\/litslink.com\/services\/machine-learning-services\">link<\/a> to learn more about machine learning services and discover new opportunities for your business.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In five years or so, \u2018proficient in machine learning\u2019 will be a must-have on any manager\u2019s CV. But for now it is still a rare skill, which you would be well-advised to develop to take your startup or existing business to the next level. Being knowledgeable about AI and machine learning will give you a strong competitive advantage over your rivals and help you employ the latest techniques wherewith you\u2019ll be able to boost your entrepreneurial venture even more.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You have probably heard about that, but the digital skills gap is growing exponentially, and you\u2019re going to be required to learn an ever-growing number of new fundamental skills if you want to stay relevant and on top of your game. Master the fundamentals and you can master the rest!\u00a0<\/span><\/p>\n<h3><i><span style=\"font-weight: 400;\">Business Benefits<\/span><\/i><\/h3>\n<p><span style=\"font-weight: 400;\">AI and machine learning specifically are fundamentally going to change your role not only as a manager or marketer, but also business owner or CEO. This will allow you to be much faster and make use of much bigger data sets, including that of your competitors. You\u2019ll be able to make predictions, correlations, and understand which of your efforts give you the highest <\/span><a href=\"https:\/\/www.investopedia.com\/articles\/basics\/10\/guide-to-calculating-roi.asp#:~:text=Return%20on%20investment%20(ROI)%20is,investment%20relative%20to%20its%20cost.&amp;text=Although%20ROI%20is%20a%20ratio,rather%20than%20as%20a%20ratio.\"><span style=\"font-weight: 400;\">ROI<\/span><\/a><span style=\"font-weight: 400;\">. AI will free you from all the repetitive monkey work and allow you to hone in on important aspects like strategizing or team dynamics.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, what are the most important questions that AI can answer for you right now? Well, the array is truly endless. Among of the most popular ones are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If someone discovers your product or service today, how likely is that person to actually sign up and purchase it?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Which of your visitors are most likely to buy your goods or avail themselves of your services?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How do your customers feel about your products and services provided?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How much will your customer spend over their lifetime?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Can you discover the psychographics (the interests, habits, opinions, attitudes) of your customers using machine learning?\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The list can be continued, of course. But the most important thing about it is that the answer is \u2018Yes\u2019 to all of the aforementioned questions. There is so much more you can apply AI and ML to. And there are lots of real-life examples illustrating the applicability and effectiveness of techniques in question. Thus, we all know that Donald Trump won the presidential elections. But did you know that it was AI that helped him target different personality types with different messages? We\u2019ll bet you had no idea. Amazon also uses AI to create its recommendation engine and show you your next \u2018holy-moly-I-need-this-product\u2019 recommendation. Another big company, ASOS, knows exactly how much you\u2019re going to spend with them over the course of your customer lifetime thanks to ubiquitous AI technologies. OTTO, in their turn, utilizes the AI algorithm designed for the CERN laboratory to cut down on stock and predict what people will buy in the next month. And that\u2019s with almost 90% accuracy.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><i><span style=\"font-weight: 400;\">Now that you know so much about the business benefits of AI and machine learning, you\u2019ll definitely want to give it a shot! It\u2019s the surest way to future-proof your business and ensure your venture will stay relevant and competitive in the market. <\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Artificial Intelligence is a super hot topic at the moment. But most people don\u2019t know how to fully grasp it. You\u2019re probably interacting with AI more than you realize. It decides if your incoming email is spam, if you\u2019re qualified for a loan, and whether or not that person on a dating website is a [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":14088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3501],"tags":[4337,19582,6841],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AI and ML as an Inexhaustible Source of Business Opportunities - OpenBusinessCouncil Directory<\/title>\n<meta name=\"description\" content=\"Artificial Intelligence is a hot topic at the moment, but most people don\u2019t know how to fully grasp it, so we will help you understand its value.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AI and ML as an Inexhaustible Source of Business Opportunities\" \/>\n<meta property=\"og:description\" content=\"Artificial Intelligence is a hot topic at the moment, but most people don\u2019t know how to fully grasp it, so we will help you understand its value.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-29T08:22:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-29T08:34:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/01\/Artificial-Intelligence.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"536\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"AI and ML as an Inexhaustible Source of Business Opportunities\",\"datePublished\":\"2021-01-29T08:22:04+00:00\",\"dateModified\":\"2021-01-29T08:34:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/\"},\"wordCount\":791,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"keywords\":[\"AI\",\"artificial intelligence\",\"machine learning\"],\"articleSection\":[\"Technology\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/\",\"url\":\"https:\/\/www.footballthink.com\/ai-and-ml-as-an-inexhaustible-source-of-business-opportunities\/\",\"name\":\"AI and ML as an Inexhaustible Source of Business Opportunities - 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