What is Machine Learning?
Machine learning (ML) is fundamentally a subset of artificial intelligence (AI) that allows the machine to learn automatically. No explicit programs are needed instead of coding you gather data and feed it to the generic algorithm. It is a scientific study of algorithms and statistical models used by computers to perform specific tasks.
The machine builds a logic based on that data. It can access data and teach itself from various instructions, interactions, and queries resolved. ML forms data patterns that help in making better decisions. The machines learn without human interference even in fields where developing a conventional algorithm is not workable. ML includes data mining, data analysis to perform predictive analytics.
Machine learning facilitates the analysis of substantial quantities of data. It can identify profitable opportunities, risks, returns and much more at a very high speed and accuracy. Costs and resources are involved in training the agent to process large volumes of information gathered.
Working of Machine Learning:
Machine Learning algorithm obtains skill by using the training data and develops the ability to work on various tasks. It uses data for accurate predictions. If the results are not satisfactory, we can request it to produce other alternative suggestions. ML can have supervised, semi-supervised, unsupervised or reinforcement learning.
Supervised learning is the machine is trained by the dataset to predict and take decisions. The machine applies this logic to the new data automatically once learned. The system can even suggest new input after adequate training and can even compare the actual output with the intended output. This model learns through observations, corrects the errors by altering the algorithm. The model itself finds the patterns and relationships in the dataset to label the data. It finds structures in the data to form a cluster based on its patterns and uses to increase predictability.
Semi-supervised learning uses labeled and unlabelled data for the training purpose. This is partly supervised machine learning, and it considers labeled data in small quantities and unlabelled data in large quantities. The systems can improve the learning accuracy using this method. If the companies have acquired and labeled data; have skilled and relevant resources in order to train it or learn from it they choose semi-supervised learning.
Unsupervised machine learning algorithms are useful when the information used to train is not classified or labeled. Studies that include unsupervised learning prove how systems can conclude a function to depict a hidden structure from the unlabelled data. The system explores data supposition to describe the obscure structures from the unlabelled data.
Reinforcement machine learning, these algorithms can interact with its environment by generating actions. It can find the best outcome from some trial and errors and the agent earns reward or penalty points to maximize its performance. The model trains itself to predict the new data presented. The reinforcement signal is a must for the agent to find out the best action from the ones its suggestions.
Evolution of Machine Learning:
Machine learning has evolved over a period and experiences continuous growth. It developed the pattern recognition and non-programmed automated learning of computers to perform simple and complex tasks. Initially, the researchers were curious about whether computers can learn with the least human intervention just with the help of data. The machines learn from the previous methods of computations, statistical analysis and can repeat the process for other datasets. It can recommend the users for the product and services, respond to FAQs, notify for subjects of your choice, and even detect fraud.
Machine Learning as of today:
Machine Learning has gained popularity for its data processing and self-learning capacity. It is involved in technological advancements and its contribution to human life is noteworthy. E.g. Self-driving vehicles, robots, chatbots in the service industry and innovative solutions in many fields.
Currently, ML is widely used in :
1. Image Recognition: ML algorithms detect and recognize objects, human faces, locations and help in image search. Facial recognition is widely used in mobile applications such as time punching apps, photo editing apps, chats, and other apps where user authentication is mandatory.
2. Image Processing: Machine learning conducts an autonomous vision useful to improve imaging and computer vision systems. It can compress images and these formats can save storage space, transmit faster. It maintains the quality of images and videos.
3. Data Insights: The automation, digitization, and various AI tools used by the systems provide insights based on an organization’s data. These insights can be standard or customized as per the business need.
4. Market Price: ML helps retailers to collect information about the product, its features, its price, promotions applied, and other important comparatives from various sources, in real-time. Machines convert the information to a usable format, tested with internal and external data sources, and the summary is displayed on the user dashboard. The comparisons and recommendations help in making accurate and beneficial decisions for the business.
5. User Personalisation: It is one of the customer retention tactic used in all the sectors. Customer expectations and company offerings have a commercial aspect attached; hence, personalization is introduced on a wide variety of forms. ML processes massive data of customers such as their internet search, personal information, social media interactions, and preferences stored by the users. It helps companies increase the probability of conversion and profitability with reduced efforts with ML technology. It can help branding, marketing, business growth and improve performance.
6. Healthcare Industry: Machine learning assists to improve healthcare service quality; reduce costs, and increase satisfaction. ML can assist medical professionals by searching the relevant data facts and suggest the latest treatments available for such illnesses. It can suggest the precautionary measures to the patient for better healthcare. AI can maintain patient data and use it as a reference for critical cases in hospitals across the globe. The machines can analyze images of MRI or CT Scan, process clinical procedures videos, check laboratory results, sort patient information and use efficiently. ML algorithms can even identify skin cancer and cancerous tumors by studying mammograms.
7. Wearables: These wearables are changing patient care, with strong monitoring of health as a precaution or prevention of illness. They track the heart rate, pulse rate, oxygen consumption by the muscles and blood sugar level in real-time. It can reduce the chances of heart attack or injury, and can recommend the user for medicine dose, health check-up, type of treatment, and help the faster recovery of the patient. With an enormous amount of data that gets generated in healthcare, the reliance on machine learning is unavoidable.
8. Advanced cybersecurity: Security of data, logins, and personal information, bank and payment details is necessary. The estimated losses that organizations face because of cybercrime are likely to reach $6 trillion yearly. Threat is raising the cybersecurity costs and increasing the burden on the operational expenses of organizations. The ML implementation protects user data, their credentials, saves from phishing attacks and maintains privacy.
9. Content Management: The users can see sensible content on their social media platforms. The companies can draw the attention of the target audience and it reduces their marketing and advertising costs. Based on human interactions these machines can show relevant content.
10. Smart Homes: ML does all mundane tasks for you, maintaining the monthly grocery, cleaning material, and regular purchase lists. It can update the list when there are input and order material on the scheduled date. It increases the security at home by keeping the track of known visitors and barring the other from entering the premise or specifies suspicious activities.
11. Logistics: Machine learning can keep track of the user’s choices for delivery and can suggest based on the instructions and addresses they use often. The confirmations, notifications, and feedback about the delivery is processed by the machines more efficiently and in real-time.
Future of ML:
Do not be surprised if we are found learning dance, music, martial arts, and academic subjects from the Bots. We will shortly experience improved services in travel, healthcare, cybersecurity, and many other industries as the algorithms can run throughout with no break, unlike humans. They not only deal but respond and collect feedback in real-time.
Researchers are developing innovative ways of implementing machine-learning models to detect fraud, defend cyberattacks. The future of transportation is great with the wide-scale adoption of autonomous vehicles.
The voice, sound, image, and face recognition, NLP is creating a better understanding of customer requirements and can serve better through machine learning.
Autonomous Vehicles like self-driving cars can reduce traffic-related problems like accidents and keep the driver safe in case of a mishap. ML is developing powerful technologies to let us operate these autonomous vehicles with ease and confidence. The sensors use the data points to form algorithms that can lead to safe driving.
Deeper personalization is possible with ML as it highlights the possibilities of improvement. The advertisements will be of user choice as more data is available from the collective response of each user for the text or video they see.
The future will simplify the machine learning by extracting data from the devices directly instead of asking the user to fill the choices. The vision processing lets the machine view and understands the images in order to take action.
You can now expect cost-effective and ingenious solutions that will alter your choices and change your set of expectations from the companies and products.
According to the survey by Univa 96% of companies think there will be outbursts in Machine Learning projects by 2020. Two out of ten companies have ML projects running in production. 93% of companies, which participated in the survey, have commenced ML projects. (344 Technology and IT professionals were part of the survey)
Approximately 64% of technology companies, 52% of the finance sector, 43% of healthcare, 31% of retail, telecommunications, and manufacturing companies are using ML and overall 16 industries are already using machine-learning processes.
Machine Learning is building a new future that brings stability to the business and eases human life. Sales data analysis, streamlining data, mobile marketing, dynamic pricing, and personalization, fraud detection, and much more than the technology has already introduced, we will see new heights of technology.