What and why Machine learning?
Technology has brought tremendous change in today’s world. Innovation of new technologies has made human life simpler and easier for day-to-day activities. With the development of unique technology, human intelligence is getting replaced by artificial intelligence. Artificial Intelligence is the branch of computer science concerned with constructing smart machines that are capable of accomplishing tasks that require the human mind. It is an interdisciplinary science with several approaches, but advancements in machine learning are creating a paradigm shift virtually in every sector of the industry.
What is machine learning?
Machine Learning is the branch of artificial intelligence and computer science that concentrates on the use of data and algorithms to mimic the human brain and deliberately enhance its accuracy. It focuses on the development of computer programs that can access the data and use it to learn for themselves. It is a significant part of the rising field of data science. Machine learning algorithms are used in a wide variety of applications such as in medication, speech recognition, and computer vision, where it is hard to develop formal algorithms to perform a certain task. The major aim of machine learning is to allow the computer to learn automatically without the involvement and interference of the human mind.
Why is machine learning important?
Machine Learning is an important part of the tech sector in today’s world. It provides enterprises with a view of the trend in business operations patterns and customer behavior and as well as assists the advancement of new products. Today’s leading companies like Facebook, Google, and Uber have made the machine an important part of their operations. Machine Learning has become an important competitive differentiator for many sectors.
Applications of machine learning:
- Traffic Alerts:
Google map is possibly the application that is used as an assistant in the direction and traffic. It makes you aware of the traffic jam and shows you the best way to travel. Google collects massive data about the traffic which makes them foresee the upcoming traffic and adjust your route accordingly.
- Transportation and commuting:
Machine Learning provides a personalized application that is unique to you. It automatically detects your location and provides options to either go home or somewhere else based on your history pattern. 26% of accuracy is seen in the pick and drop service with the use of machine learning algorithms.
- Self-driving vehicles:
Machine Learning is highly used in cars like TESLA. It plays an important role in self-driving cars. It collects a huge number of data and information quickly that can guide the vehicle to operate in the correct direction. It uses external internal sensors as a part of IoT. Now Tesla is one of the most loved cars in today’s time.
- Dynamic pricing:
There are enormous amounts of pricing strategies that depend on the objective sought. Whether it is a movie ticket, a plane ticket, or cab fares, everything is dynamically priced. Artificial Intelligence and machine learning have enabled pricing solutions to track buying trends and determine more competitive product prices.
- Fraud detection:
The number of transactions has increased due to an electronic payment channel. At the same time, the number of fraud cases has been increasing. So, whenever an individual carries out the transaction, machine learning thoroughly scans the profile searching for suspicious patterns. In Machine Learning, problems like fraud detection are usually framed as classification problems.
Machine Learning facilitates the analysis of an enormous quantity of data. It delivers faster and more accurate results to specify dangerous risks and profitable opportunities. The combination of machine learning and AI technology can make it more effective in processing massive amounts of information and data.
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