Machine Learning is not something that is being introduced just now. It has been around for quite some time. But, with the huge developments in the Artificial Intelligence (AI) industry, it has gained momentum once again. ML algorithms have been in circulation for a long time but the ability to automatically apply complex mathematical calculations to big data, over and over, faster and faster is a recent development.
Basically, Machine learning is an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed. Machine learning focuses on the development of computer programs that can access data and use it learn for themselves.
A few examples of Machine learning that all of us have seen are…
- Self-driving Google cars. They take in data in real time and constantly adapt to the influx of data.
- Facebook Timelines and Ads. On Facebook, our newsfeeds mainly show posts from friends we interact with more than others and the posts we read or like more than others. Similarly, Ads shown are inspired by our shopping trends.
The sudden rise in interest regarding ML is due to the fact that data mining and analysis has gained more traction than in the past. The available data is growing in volume at such a pace that it is not feasible to analyze it manually. Computational processing is not only cheaper but also provides a greater accuracy and efficient storage.
This has made it possible for companies to produce models that can analyze huge piles of data in a much quicker fashion with higher accuracy than before. Such models give the organizations a great wealth of knowledge regarding their ventures, letting them know of profitable opportunities and what might be too risky.
Machine learning is being used by a number of organizations, some of the prominent ones of which are:
Banks and other businesses use Machine learning to learn new investment opportunities and to prevent fraud.
Machine learning has made it possible to analyze the individual’s health in real time with the help of wearable devices.
Oil and Gas:
This industry is still expanding and making use of Machine learning to analyze minerals in the ground to find the right dig sites and to prevent any refinery failures.
Websites make use of your shopping trends to show you products that might interest you. This can raise their sales.
The transportation industry is making use of Machine learning in order to calculate better routes and better ways to facilitate the people using their services.
We can expect more developments in Machine learning as it continues to be integrated into different sectors and industries.