Let’s take a look at machine learning applications in some key industries:

Manufacturing

Machine learning can support predictive maintenance, quality control, and innovative research in the manufacturing sector. It also helps companies improve logistical solutions, including assets, supply chain, and inventory management. For example, manufacturing giant 3M uses machine learning to innovate sandpaper. Machine learning algorithms enable 3M researchers to analyze how slight changes in shape, size, and orientation improve abrasiveness and durability. Those suggestions inform the manufacturing process.

Healthcare and life sciences

The proliferation of wearable sensors and devices has generated significant health data. Machine learning programs analyze this information and support doctors in real-time diagnosis and treatment. Machine learning researchers are developing solutions that detect cancerous tumors and diagnose eye diseases, significantly impacting human health outcomes. For example, Cambia Health Solutions uses machine learning to automate and customize treatment for pregnant women.

Financial services

Financial machine learning projects improve risk analytics and regulation. Machine learning technology allows investors to identify new opportunities by analyzing stock market movements, evaluating hedge funds, or calibrating financial portfolios. In addition, it can help identify high-risk loan clients and mitigate signs of fraud. For example, NerdWallet, a personal finance company, uses machine learning to compare financial products like credit cards, banking, and loans.

Retail

Retail can use machine learning to improve customer service, stock management, upselling, and cross-channel marketing. For example, Amazon Fulfillment (AFT) cut infrastructure costs by 40 percent using a machine learning model to identify misplaced inventory. This helps them deliver on Amazon’s promise that an item will be readily available to customers and arrive on time despite processing millions of global shipments annually.

Media and entertainment

Entertainment companies turn to machine learning to better understand their target audiences and deliver immersive, personalized, and on-demand content. Machine learning algorithms are deployed to help design trailers and other advertisements, provide consumers with personalized content recommendations, and even streamline production. 

For example, Disney uses machine learning to archive its media library. Machine learning tools automatically tag, describe, and sort media content, enabling Disney writers and animators to quickly search for and familiarize themselves with Disney characters.

Computer vision

Computer vision is a technology that automatically recognizes and describes images accurately and efficiently. Today, computer systems can access many images and videos from smartphones, traffic cameras, security systems, and other devices. Computer vision applications use machine learning to process this data accurately for object identification and facial recognition, as well as classification, recommendation, monitoring, and detection.

For example, CampSite is a leading software platform for summer camps. Their camps upload thousands of images daily to connect parents to their children’s camp experience. Finding photos of their camper became a time-consuming and frustrating task for parents. CampSite uses machine learning to automatically identify images and notify parents when new photos of their child are uploaded.