Why is Machine Learning So Important?

July 6, 2021

Wider access to large volumes and varieties of data, especially the development and ubiquity of “big data”.
Much more affordable data storage solutions, which helped make big data sets available to more organizations and for a much wider variety of applications.
Increasing processing power that allows computers and specifically AI applications to complete calculations much faster than ever before.

Healthcare – Machine learning solutions are being used to help medical professionals detect the presence of diseases, and machine learning processes are also used to detect emotional states via smartphone data.
Retail – Machine learning technology powers Amazon’s “You May Also Like” suggestions, and machine learning processes are also behind Netflix’s recommendation algorithm.
Manufacturing – Machine learning helps manufacturers reduce process-driven losses, increase capacity by optimizing the production process, and reduce costs by guiding predictive maintenance.
Banking & Finance – Banks and financial institutions utilize machine learning to detect and prevent fraudulent transactions, and to identify insights in financial data, allowing them to find better investment opportunities, advise investors about when to trade, and provide other important insights related to financial matters.
Transportation – Both Google and Tesla’s self-driving cars are powered by machine learning technology, including deep learning which allows them to interpret, predict and respond to data critical for autonomous driving.

Understanding, analyzing, and applying machine learning principles for reasoning processes and uncertainty.
Utilizing machine learning to perform image analysis and reconstruction tasks.
Solving a variety of complicated problems and scenarios by implementing machine learning and AI-driven solutions.
Designing and building machine learning and AI-based solutions to perform complex tasks that model and improve upon typical human behavior.
Devising and building complex problem-solving solutions that use machine learning principles and AI best practices.
Evaluating and improving applications that rely on machine learning and AI processes.

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Why is Machine Learning Important?