A review of the recent trends in the use of machine learning in business

Fazle Rabbi,
Australian Computer Society, Australia

Abstract

A review of recently available literature on the use of machine learning in business was conducted. In order to find the relevant literature, first, a search protocol was designed. This protocol was then applied to the open source Google Scholar search engine and results were then subsequently narrowed down using a number of criteria. It is important to note that due to the relatively nascence of the field of machine learning and the relative abundance of available literature, the search was restricted to those articles published in the period of 2017-18. Five search results were selected to be further elaborated and understood. The chosen research works covered an array of aspects of the business work. These included workforce, customer engagement, scalability, operational efficiency and selection of leadership. It was observed that there was no unified or agreed upon definition of machine learning that was used by all researchers. Moreover, it was also evident that there wasn’t outright agreement from all researchers whether machine learning would have a positive or negative impact on businesses, be it on business operations, efficiency or profitability.

Keywords: Machine Learning, Applications, Business, Review