Machine Learning is a method where data based algorithms are used to automate the process of building analytical concepts. Machine based learning withdraws the need to be reliable on rule based programming by building iterative models that learn itself from data and also find hidden insights from them. Computing technology helps in Pattern recognition to come up with reliable and repeatable decisions.
The huge chunks of Data called as the “Big Data” is very complex and difficult to manage. Machine based learning has made it easier to get insights from this large pool of data and it has now become evident to be largely used in era of digitization and technological advancement. It is based on the theory that machines can learn from their surroundings without being programmed to do specific tasks.
The researchers have been, from long programming computer systems to become smart learning machines with Artificial Intelligence (AI) systems, an example from Fei Fei Li, head of Stanford’s AI Lab started to feed millions of images into computers that basically a three year child would see and test it afterwards if the system can identify the feeded images with accuracy. To their surprise, it was possible and finally came out with a program where visual elements can be read precisely and identified.
With the ability of machines to adopt the algorithms and do million times faster calculations on the data counts recent development. The advanced machine based learning examples which are topics of major discussions today are:
Getting to know about the customer reactions and views about you. Ex- Companies can know what people are saying about them on twitter or facebook. Are there negative and positive sentiments? So, they can strategize their future actions related to improve their brand image.
The technology behind self driving cars. This gets possible through continuous machine learning.
Fraud detection systems, credit approval systems where machines learn about the credibility of people through their online behavior history.
The products that are shown as advertisements on your facebook page or product recommendations while you are on some online shopping platforms like Amazon are also results of machine based learning technologies.
Machine learning can help come out with solutions that diagnose patients faster and with much more accuracy.
Everyday, the businesses are getting new opportunities to use this technology to do better business. Those who can crack this code will surely be successful no matter what. Apart from helping businesses in their PR activities, customized offerings, deciding credit limit etc, it also plays a major role in enhancing the individual’s experience. For example, each user’s facebook feed is personalized with the help of machine learning. Posts from those friends where you stop scrolling to see, like or comment over them are shown more on your feeds. The method behind this is pattern recognition by data scientists through Predictive analytics and statistical analysis.
Machine Based Learning can give you mind-blowing results with time. The future is dependent on such technologies which enhance the accuracy of predictions and experience of users. The examples being are Online Shopping or Grocery Delivery Apps. The machine can predict whether you like milk chocolate, dark chocolate or sugar free chocolates and can customize the offerings as per your taste which will obviously increase the chances of user buying the chocolate.