According to International Data Corporation (IDC) forecasts that spending on AI (Artificial Intelligence) and ML (Machine Learning) will grow from $12B in 2017 to $57.6B by 2021. Increased warehouse automation and reduced cloud storage costs have contributed to the integration of ML by the industry. Machine learning builds ability in your system to learn from experience and arrive at decisions independently without being explicitly trained for it.
With the adoption of ML, the companies have reported a major increase in productivity. Alibaba, which has the largest warehouse facility in China, was able to increase the company’s productivity by net 70% by introducing ML in robotics. The important factor to keep in mind is the design algorithm based on prediction or classification.
Advantages of Machine Learning
- Saves time by guiding operators to the shortest path.
- Machine learning is used in facial recognition, or speech recognition, when used in warehouse operations, reduces confusion among workers leading to an increased inaccuracy.
- Navigation is an issue for robots, with ML integrated with robots leads to mastering the navigation.
- Dramatically boost labor management and supervision.
Why e-commerce needs to integrate Machine Learning
- Pattern analysis allows recognizing customer’s preferences and expectations, which can be used to provide recommendations to them.
- Machine Learning-powered predictive analytics offers data on production forecasting, delivery time, and other risks, variables that have a direct impact on the cost of the warehouse.
- It helps to avoid failures by analyzing the history of the order and recognizing products that are at higher risk of error.
- Machine Learning is integrated with anti-fraud algorithms that assess whether or not the order is genuine, thereby ensuring the prevention of fraud.
Is Machine Learning a significant factor in today’s date?
According to Flipkart, since the introduction of the ML, the click-through rate had risen 10 percent and the conversion rate had risen 3 percent. From the results it is clearly visible that growth can be achieved with the integration of Machine Learning. As demand for immediate delivery increases, companies increase the efficiency of the operations through Warehouse Automation (link), Artificial Intelligence (link), and Machine Learning.
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