What’s Inside the “Black Box” of Machine Learning?

Machine learning can optimize business decisions, but the decision reached by an algorithm often isn’t transparent.How far can machine learning take us? The list of possibilities is endless.  Machine learning applications “can provide customer service, manage logistics, analyze medical records, or even write news stories,” a recent report by McKinsey Global Institute explains. The McKinsey report identified 120 potential use cases and interviewed 600 industry experts on the potential impact of machine learning. As machines take on routinized decision-making processes, “the value potential is everywhere, even in industries that have been slow to digitize,” the report’s authors explain. At the same time, machine learning faces challenges as it gains traction across enterprises. The report’s authors, led by Nicolaus Henke, global leader of McKinsey Analytics, observe that “recent advances in machine learning can…

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