behaviour , and economic indicators to generate actionable insights , empowering investors to make informed decisions .
According to the Bank of England , the number of UK financial services firms that use machine learning continues to increase . Overall , 72 % of firms that responded to its machine learning survey are using or developing ML applications . These applications are becoming increasingly widespread across more business areas .
The Governor of the Bank of England , Andrew Bailey , says : “ AI is something that I think we have to embrace with our eyes open . It is very important and has potentially profound implications for economic growth , productivity and how economies are shaped going forward .”
Transforming retail experiences In the retail sector , machine learning algorithms are reshaping the customer experience , from personalised recommendations to demand forecasting . By leveraging ML algorithms , retailers can analyse consumer preferences , purchase history and browsing behaviour to deliver personalised shopping experiences , driving customer loyalty and sales .
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