As machine learning comes into the picture, there is no need to teach computers how to solve complex problems such as text translation. Instead of this, we can build the systems that will let them learn to perform tasks by themselves only.
What is machine learning?
Machine Learning is somewhat related to Artificial Intelligence. It is focusing on to solve complex problems but its main goal is to allow systems to learn automatically without human interference. Nowadays humans getting more addicted to machines and already started using this technology in various field and this is the reason the future of machine learning is going to be very bright.
Applications of machine learning
Banking: After realizing the advantages of machine learning, banks are using the power of machine learning to improve the business, increase revenue, and to perform efficiently. Machine learning also helps in loan management and approval which results in enhancing the customer experience.
Healthcare: machine learning becoming very useful in the healthcare industry as it can help to monitor patient’s health and can keep the track of patient’s reports in real-time. It also helps in delivering accurate data on time which can lead into improved treatment and diagnosis
Digital Marketing: as machine learning is stepping into almost every domain, it is helping the digital marketing field too. Chatbots are using machine learning technology to assist customers 24 x 7. It also helps in creating advertisements that can convert into a sale. It can optimize the website for voice search queries which is a trending technology nowadays.
Education: machine learning can identify weaknesses of students and can give suggestions to improve. It can also support teachers by helping them to improve their lessons. It also helps to check how much lessons students are able to learn
Retail: based on your previous purchases, most of the websites are recommending you the items that you might like and this is only done by machine learning. This technology can analyze your search and buying history and can recommend the products. Retailers are taking its advantage to optimize prices, inventory management and to implement a marketing campaign.
Oil and gas: for the oil and gas industry there are a number of machine learning use cases and they are still expanding day by day. Machine learning is helpful in finding different types of energy sources and analyzing which type of minerals are there in the ground.
Future Predictions of Machine Learning:
· For more accurate results, instead of a single entity, different computational entities will be cooperating together in the future. The achievement can be restricted if there is a single entity, but if there is collaborative learning, it can generate better learning results.
- Quantum machine learning algorithm will deliver fast results than a classical algorithm
- Nowadays we are getting popups for recommendations that are not related to us or maybe we are not interested in them. In the future, we can expect more relevant and personalized recommendations and preferences.
- In supervised learning, it is necessary to provide a set of labels to study patterns but unsupervised learning will start learning algorithms without any set of labels. In future ML will use only an unsupervised algorithm that will contribute to accurate results.
Benefits of machine learning
Identification of trends and patterns: machine learning can analyze and review a large database and can easily identify trends and patterns. Machine learning can track and understand the purchase histories of the user and help them to show correct items or products.
No human involvement needed: machine learning means giving the ability to the machines to learn itself and make predictions by improving algorithms. Anti-virus software is the most common example of this as they automatically start filtering when new information or data is detected. ML can also detect spam.
Continuous Improvement: as machine learning automatically learn itself, its algorithm continuously gains experience and keep improving in terms of accuracy. More amount of data we are providing to systems, more accurate results it is showing.
Handling Multi Variety Data: Machine learning algorithms can handle a large amount of data no matter is one dimensional, multi-dimensional or multi-variety of data. A large amount of data we provide to systems can make better predictions and can provide us more accurate results.
Thus, we have studied the basics of machine learning and the future scope of it. Along with, we have studied its advantages and application in different fields which are helping us in our real life. As a result machine learning will become more trending by 2020. Machine learning is booming in the employment sector also and everyone is trying to make a career in this field. NearLearn is one of the best institutes which offers machine learning certification training in Bangalore with placements. If you want to know more about our machine learning training and certifications please contact us. Related Post: How to become a Certified Machine Learning Engineer?
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