Machine learning applications: Mitigating the risks

Machine learning is gaining widespread adoption by enterprises — large and small. Three primary reasons why executives…want employees to use it are for cost savings, faster processing of massive data and faster discovery of new vulnerabilities.Large retailers use machine learning applications to find fraudulent transactions over ecommerce while preventing blocking of legitimate transactions. They use it to analyze customers’ sentiments on products seen on multiple websites and weed out hackers impersonating as long-time customers.Financial institutions use machine learning applications or systems to predict loan defaults and fraud and money laundering. Hospitals can avoid mergers and closures by having machine learning predict avoidable emergency room wait times, preventable strokes and seizures, and wasteful hospital readmissions. Machine learning in large legal firms helps lawyers decide faster what cases to take and which…

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