3 Ways Machine Learning Impacts Our Daily Lives

Machine Learning Impacts Our Lives Daily and We Don’t Notice

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1. Dynamic Pricing:

Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing is a pricing strategy in which businesses set flexible prices for products or services based on current market demands. -wikipedia

Big companies like Amazon use dynamic pricing with their products and services. Dynamic pricing is important for the e-commerce industry. To summarize the definition of dynamic pricing, it is essentially the price of a product that is continuously adjusted in response to the supply and demand. This means the price can change based on the person, the time of day, or even the weather !

2. Recommendation Systems

A recommendation system sometimes called a recommender engine is one of the most powerful marketing tools in todays digital world! Big companies from Netflix, to Amazon use these recommendation engines to…