Machine Learning: A Contributor to Sustainable Development Goal

Sumeeet Gupta, and Mritunjay Rawat

Journal of Global Economy, 2022, vol. 18, issue 1, 67-83

Abstract: Machine Learning has become a buzz word these days. In this paper we have review what exactly is Machine Learning and how it can be used in various industries providing a Competitive Advantage to Organizations to outperform its competitors and also sustain in the market. Machine Learning helps an organization or an industry to grow leading to growth in economy also while being committed to the various Sustainable Development Goals. After the Pandemic, Industries and firms have realized the importance of going Digital to stay and sustain in their respective businesses. This has provided a push towards the ML to make smart business processes for critical cost cutting, efficient economic recovery, informed decision making and as a result improving the ROI (Return on Investment). In this paper we have understood Machine Learning and reviewed various Services provided by ML for industry growth. Also, we have highlighted various applications of Machine Learning in different industries and how it can push the Indian Market towards expansion for its products and services resulting to a healthy and growing economy. At Last we have provided some suggestions as how MLcan be implemented in the Indian scenario of Oil and Gas Industry which plays a crucial role in a growing economy while committing and fulfilling the Sustainable Development Goals.

Keywords: Machine learning; ROI; MLaaS; AI (search for similar items in EconPapers)
JEL-codes: D8 I2 (search for similar items in EconPapers)
Date: 2022
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