Old schools have a hard time grasping the fact that machines can think and learn. Even suggesting that machine learning will create a revolution fell on deaf ears. However, they soon came to terms with reality.
In this post, we will discuss reasons why machine learning will continue to be of focus in the future.
Why is machine learning important?
Machine learning is essential because it gives companies an overview of trends in user behaviour and the operational patterns of business while supporting the development of new products. Many leading companies nowadays, such as Facebook, Google etc., use machine learning as a predominant part of their functions. Machine learning has become a significant competitive advantage for many companies.
Artificial intelligence is influencing the future of every industry and every person. Artificial intelligence has been the predominant driving force of new technologies such as big data, robotics and IoT and will continue to be a technological trendsetter in the future.
What are the types of machine learning?
Classical machine learning is often categorized by the way an algorithm learns to make more accurate predictions. There are four main approaches: supervised learning, unsupervised learning, supervised learning, and reinforcement learning. The type of algorithm that data analysts choose depends on the type of data they want to predict.
Supervised Learning: In this type, data analysts provide algorithms with tagged training data and identify the variables they think the algorithm should evaluate for correlation. Both the input and output of the algorithm are cited.
Unsupervised learning: This type of machine learning includes algorithms that function on unlabelled data. The algorithm scans datasets for any meaningful connection. The data on which the algorithms train and its predictions or recommendations are predefined.
Semi-Supervised Learning: This machine learning approach is a blend of the two previous types. Data analysts can feed an algorithm known as training data, but the model can examine the data all by itself and develop its understanding of the data set.
Reinforcement learning: Data analysts use reinforcement learning to teach a machine to finish a multi-step process with preset rules. Data analysts create an algorithm to perform a task and give it positive or negative signals to figure out how a task is performed. However, most of the time, the algorithm decides what steps to take on its own.
The Importance of Human Interpretable Machine Learning
Explaining how a particular machine learning model works can be overwhelming when the model is complex. There are some businesses where data scientists use simple machine learning models as the company needs to explain how each decision was made. This is very true in industries with high compliance costs, such as banks and insurance companies.
Complex models can provide accurate predictions, but explaining to the layman how an outcome was determined can be difficult.
The future of machine learning
Although machine learning algorithms have been around for years now, artificial intelligence has become more prominent and popular—deep learning models, in particular, power today’s most advanced artificial intelligence applications.
At this time, Machine learning platforms are among the most competitive areas of enterprise technology, and most of the major vendors, such as Amazon, Google, Microsoft, etc., are struggling to acquire customers for platform services that span the spectrum of business activities. Machine learning includes data collection, preparation, classification, model building, training, and application development.
As machine learning promotes its importance to business operations, AI becomes more practical in enterprise settings.
AI is currently focusing on developing more general applications. Today’s AI models need broad training to generate a highly augmented algorithm to conduct a task. However, researchers are looking for methods to make models more malleable and practices that allow a machine to learn one content and apply it in future tasks.