Intuit CEO on the Power of Machine Learning for Small Businesses

In this segment from "Interview 30" on Motley Fool Live, recorded on Dec. 8, Intuit (NASDAQ:INTU) CEO Sasan Goodarzi talks about the many applications and capabilities of machine learning.

Sasan Goodarzi: We apply machine learning to everything that I know about you. How many accounts payables do you have? What's the creditworthiness of your customers? How many customers do you have in the pipeline that haven't paid you yet? We crunch all of that data and we apply machine learning and behavior learnings to know if I can actually, for instance, give you a loan, and if I can give you a loan, for how long can I give you a loan and for how much? That's just one example. That's how we apply machine learning to put the power of the insights in your hands. In the case of Mailchimp, they do 2.2 machine learning predictions per day. That's incredible because that actually helps them put the power of insights in your hands. What does that look like? It looks like, hey, you have spent this much money on Facebook (NASDAQ:FB) or on Etsy (NASDAQ:ETSY). Here are the customers you've acquired. Here's where you're not acquiring customers. Here's where your profitable customers are. All of those data points and machine learning capabilities helps make you smarter as a small business so that you can be effective in growing your business. That's just another example of what got us very excited about Mailchimp.

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Source Fool.com