IMPACT OF MACHINE LEARNING ON SOCIAL AND ECONOMIC SYSTEM – A QUALITATIVE STUDY TO EXPLORER COMPETITIVE ADVANTAGE FACTORS

Received: 30.04.2021; Revised: 29.06.2021, Accepted: 28.07.2021, Published Online: 13.08.2021

Mr. Vipul Gupta

Assistant Professor, UILAH, Chandigarh University, vipul.e11177@cumail.in

Dr.  Harpreet Kaur

Assistant Professor, UILAH, Chandigarh University, harpreet.e10957@cumail.in

Ms Nitasha Kapila

Guest Faculty Economics, DES-MDRC, PU CHD, nitashakapila@gmail.com

Abstract

“Machine Learning” in business aids in increasing company scalability and boosting company operations for businesses all over the world. “Artificial Intelligence” technologies and several “Machine Learning” algorithms have grown in prominence in the business analytics sector. In the era of huge quantum of data being generated by the virtue of integration of the various software with the business operations, the relevance of “Machine Learning” is continuously increasing. As a result, companies may now profit from knowing how companies may utilise “Machine Learning” and incorporating it into their own operations. “Machine Learning” (ML) derives useful results from the data to address very dynamic and difficult social and business problems. ML helps in establishing a system that learns automatically and produces results in less time and effort, allowing machines to discover. ML is developing at a breakneck pace, fueled mostly by new computer technology.

Keywords- “Machine Learning”, “Artificial Intelligence”, ML algorithm, Data-rich.