Applications of Machine Learning and IoT in Business Management, e-commerce and Finance
Geetha Manoharan, Prithu Sarkar, Chirag Aggarwal, Kawerinder Singh Sidhu, Neeru Sidana, Maddikera Kalyan Chakravarthi · 2024
Machine learning is a part of AI technique which has algorithms associated with it. These algorithms help to study human behaviour and approaches. The Internet of Things, or IoT, is also expanding in today’s world at a faster rate and for its higher reach this technology has been widely used by the existing companies in the industry. The research aims to study how Machine learning and IoT can be applied in business management, e-commerce and finance. The major objectives of the research are to understand about the Internet of Things and MI and analyse various methods for machine learning and AI. The study also analyses the applications in banking, electronic commerce, and company administration. This empirical research will include a qualitative analysis of data collected from the secondary data sources. The study reveals the higher importance of using IOT and Machine learning as it can be useful in revenue generation, profit optimisation and sales forecasting. Also, these advanced technologies can be extremely helpful in providing better safety, recognizing fraud, and handling portfolios are some of the major uses. It is expected that in the near future the use of IoT and Machine learning will increase and businesses will be more benefited from it.