When used efficiently, the advantages of machine translation boil down to two main factors; it is usually faster and cheaper when compared to human translation.
Machine translation saves you time: MT can help you shorten lead time of your large translation projects due to the fact that machine translation engines are capable of translating large volumes of texts in a very short while.
Machine translation reduces translation costs: MT is cost-efficient for large volumes of translation. Using customized machine translation engines can help cut translation costs due to less human involvement.
Machine translation can also be used as a productivity tool for human translators. When incorporated into a hybrid workflow, where human and machine translation are used in combination, high quality MT output can help increase the overall productivity of human translators.