3 Machine Learning Stocks For A Profitable 2021 Portfolio

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Machine Learning (“ML”) is being integrated into everything, starting from business needs to consumer needs in the Artificial Intelligence (AI)-driven world.

The growing proliferation of ML in cloud computing solutions, quantum computing systems, automation, robotics, leading-edge medical diagnostic systems, autonomous vehicles, and smart consumer electronic appliances, to name a few, has created a unique niche for the technology.

Notably, the futuristic technology is being leveraged by companies across various sectors to make enterprise functions leaner and more efficient.

Effective algorithms, frameworks, and techniques of ML, which solve complex problems quickly, are expected to continue bolstering its adoption rate in the near term as well as the long run.

Looking at this, technology behemoths such as Alphabet’s (GOOGL - Free Report) Google, Amazon (AMZN - Free Report), Microsoft (MSFT - Free Report), and International Business Machines (IBM - Free Report) are undertaking strong efforts to achieve breakthroughs in the ML arena.

ML to Remain Promising in 2021 & Beyond

We note that the Coronavirus pandemic-induce automation in businesses has triggered the use of ML.

Moreover, the emerging megatrend in the IT industry namely hyper-automation, which states that almost everything in a business can be automated, is likely to gain popularity. This, in turn, is expected to accelerate the deployment rate of ML models in IT firms.

Additionally, boosting customer experience and personalization in the retail industry is likely to be the key rationales behind the adoption of ML in 2021.

Further, the growing proliferation of Internet of Things (IoT) devices, the increasing adoption of Machine Learning as a Service (MLaaS), the rising demand for faster computing power, and the emergence of reinforcement learning are paving the way for an ML boom in 2021 and beyond.

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