The one-word answer to this question is, ‘Yes.’
To know further about machine learning it is crucial to understand machine learning is a branch of AI and computer science. The branch that focuses on how data and algorithms can best be used to make them imitate the learning procedure of humans.
In simple words: machine learning is nothing but a subfield of AI that can largely defined as the ability of machines to copy human’s intelligent behavior.
Numerous industries like image and speech recognition, medical diagnosis, predictive analysis, and extraction, as well as statistical arbitrage uses machine learning.
While these are industry-based uses of machine learning, the technology plays an important role in daily life as well. Let’s look.
ROLE OF MACHINE LEARNING IN DAILY LIFE
Data science and AI both use machine learning for respective functions. With the exponential growth in data, businesses all over the world have realized the importance of skilled professionals like artificial intelligence scientists.
Result: A surge in demand for certified artificial intelligence scientists.
Data is the fuel for businesses around the world and data-driven decisions help organizations to stay ahead of their competitors. The data penetration in your life is such that you won’t even recognize it. For instance, the active filtering of your system messages by Gmail into Primary, Social, and Promotions.
ROLE OF MACHINE LEARNING IN BUSINESSES
Machine learning is the lifeblood for businesses for two major reasons- problem-solving and adding value. A learned AI professional will be the best fit for handling what Machine learning has got to offer. As on the marketing front, ML analyses historical and real-time data for modifying marketing strategies, instant upsell and cross-sell recommendations and making predictions of customer behavior. It adds value to marketing and segmentation strategies for personalized recommendations. Not only that, in financial world, ML has proven to be a boon, most significant use being fraud detection, with its ability to learn from data and spot anomalies and suspicious patterns. ML also helps in identifying the gaps and weak nodes for devising predictive maintenance.
The use of machine learning spans across industries and applications, enhancing customer experience and adding business value for higher ROI.
MACHINE LEARNING- REAL WORLD APPLICATIONS AND USE CASES
Popular ML use cases in day-to-day life are:
- Smartphone applications– From the voice assistant that sets your alarm and find you the best restaurants to the simple use case of unlocking your phone with facial recognition- machine learning is omni-present and is embedded in our favorite devices. Voice assistants like Apple’s Siri, Google Assistant, Amazon’s Alexa, amid others- the common thread being ML algorithms and NLP. Other examples include analyzing pixels on smartphone cameras, App store and Play store recommendations, Face unlocking on smartphones, there’s no end to this insane technology.
- Transportation optimization– Uber, Ola, and Lyft are running on an entirely different radar when talking about ML integration. While detecting the dynamic pricing in travel, selecting the most optimal route while commuting, Google maps- all have ML embedded into their nerves.
- Popular web services– This involves your daily interactions with the most used applications such as Email filtering, Google search, Google Translate, LinkedIn and Facebook recommendations and ads. Everything that we see, interact with and even touch is powered by ML broadly.
- Sales and marketing– Talking about ecommerce biggies like Amazon and Flipkart, where wide recommendation spree happens all the time to your favorite apps like Netflix, Goodreads, Zomato, Uber Eats, MakeMyTrip, Chatbots, personalized marketing, the list is endless.
- Security– This has a huge ML interference as it helps businesses better analyze threats and respond to adversarial attacks promptly. Video surveillance, Cyber security (Captchas) are some of the examples.
- Financial domain– From Fraud detection in Banking to Personalized banking, ML has huge applicability that is envious.
- Popular use cases– Self-driving cars are the latest muse made possible by machine learning, and their crowning achievements include detecting objects in the environment and assessing the driver’s condition. Amid other things, scene classification.
MACHINE LEARNING- FUTURE TRENDS
Future possibilities of ML are limitless. Imagination, problem-solving and professional expertise in machine learning skills are expected to drive innovations in business strategies and new product offerings. Only the best AI ML certification is the key to churn out some incredible technologists that are sure to soar in AI domain. Future trends include:
- Automation through MLOps
- ML Democratization and Broadening Access
- Achieving Scalability Through Containerization
- APIs and Wider Availability of Pre-packaged Tools
- ML and Time Series Solutions for Future Planning
Predictive analysis is a major need of any business and with machine learning organizations can make accurate predictions.