Machine Learning based Enhancement of Trading and Business Enterprises

Techniques for machine learning (ML) are advancing at breakneck pace, both in academic world and business world. However, various businesses are at different stages of development when it comes to effectively using ML approaches. As a result, the current state of machine learning usage in businesses are analysed. When compared to bigger businesses, small and medium-sized companies (also known as “SMEs”) have a harder time using machine learning technology, according to research findings. However, ML technologies are becoming more popular in business domains. In order to determine the variables that permit success and the factors that contribute to success, 18 organizations in variety of sectors are considered in this qualitative empirical research. The findings indicate that small and medium-sized enterprises, in particular, struggle to use machine learning technology owing to a lack of knowledge of ML. Nevertheless, this deficiency in resources may be compensated by partners and necessary instruments. Many strategies that might close the gap for SMEs are covered in this study.