Machine learning (ML) is a branch of artificial intelligence (AI) that involves
developing algorithms and statistical models to help computers perform
complex tasks without explicit instructions. ML is based on the idea that systems can learn from data, identify patterns, and make decisions with minimal human intervention. In traditional programming, a computer follows a set of predefined instructions to perform a task. In ML, however, the computer is given a set of examples (data) and a task to perform, but it's up to the computer to figure out how to accomplish the task based on the examples it's given.
ML has many applications across industries, including:
• Financial services: Risk assessment, algorithmic trading, customer service, and personalized banking • Pharmaceuticals: Drug discovery, clinical trials, and drug manufacturing • Manufacturing: Predictive maintenance and quality control • Insurance: Recommendation engines, underwriting, and claims processing • Retail: Recommendation systems, inventory management, and demand forecasting Some examples of ML in use include: • Internet search engines • Email filters to sort out spam • Websites to make personalized recommendations • Banking software to detect unusual transactions • Voice recognition apps • Chatbots and predictive text • Language translation apps • Netflix suggestions • Social media feeds • Autonomous vehicles