Article: www.forbes.com/sites/bernardmarr/2017/10/30/the-amazing-ways-spotify-uses-big-data-ai-and-machine-learning-to-drive-business-success/#1b73edd54bd2
Listening to music has been the pastime for people since anyone can remember. The way music makes an individual feel is unique. Throughout history, new software has come out with innovative ways for their subscribers to listen to their favorite music. However, I believe Spotify has revolutionized the music industry by adding innovative technology that benefits the listeners as well as the artists. The idea of machine learning and artificial intelligence is something that is starting to become very important in existing technology. Using this machine learning, Spotify can create a personalized playlist for its users every week of songs it believes they will like. Personally, I use this feature on Spotify, and it is beneficial to find new music of the same genre that I enjoy. Spotify is also experimenting with data analytics by offering the artist the ability to view how well their music is doing on the app. I believe the ability to access this sort of data on a mobile device is very convenient for the artist who is on tour. Personally, I am not sure convinced with this feature will entice more artists to post their music on Spotify even if they have a profile for their music. When I log on to Spotify, I usually do not receive new artists that may like. Hopefully, in the future, there will be a feature that allows listeners to find new artists that they would like based on data analytics. To effective utilize machine learning and artificial intelligence, having the right professionals using innovated technology is vital for success. Acquiring Media chain Labs as well as MightyTv is an excellent initial investment, but I believe this is not enough for Spotify to distance themselves from other music streaming services. Spotify would like to be one of the first streaming services to go public by direct listing. Because they believe these innovations will allow them to skip paying the underwriter costs like in an IPO, Spotify could be playing a very risky game if the market crashes on them.
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