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Top 5 Machine Learning Trends For 2023
Machine learning is a subset of artificial intelligence in which machines learn from the data and make predictions or decisions on the new data without being explicitly programmed. Machine learning is an industry that is continuously evolving with several new innovations coming up every year. The market for artificial intelligence is expected to be worth $500 billion in 2023 and $1,597.1 billion in 2030. This indicates that there will be a continued high demand for machine-learning technologies in the future.
In this article, we will see the top 5 machine-learning trends for 2023.
1. Foundation Models
Foundation models are large pre-trained language models that are trained on a large amount of data. Recently they have become very popular in recent times with the release of ChatGPT and most likely they will remain popular even in the future also. These models are useful in a wide range of tasks such as sentimental analysis, sentence completion, content generation, language translation, coding, and customer support.
Foundation models are trained on millions and billions of machine learning parameters. These models can be fine-tuned on specific tasks to improve the model performance on those tasks. Some examples of foundation models are GPT-3, MidJourney, BERT, GShard, and many more. These models have revolutionized the field of AI and are widely used in industry for a variety of tasks.
MLOps (Machine learning Operations) is basically a process to simplify the process of taking a machine learning model to the production and then maintaining and monitoring them.MLOps is the integration of Machine Learning and DevOps.The main aim of MLOps is to automate the machine learning lifecycle from data preparation, and modeling to deployment and monitoring.
In recent years MLOps has been one of the main reasons for many machine learning projects as it helps organizations to scale their machine learning project and make reliable machine learning models which is easy to maintain with the help of MLOps.MLOps also helps to reduce the cost of organization because if we have one machine learning model then there is no need to hire people to make a newer version of that model. MLOps is a very popular field nowadays and by 2025 the MLOps market is expected to expand to almost $4 billion.
3. Multimodal Machine Learning
Multimodal machine learning is a type of machine learning in which the machine learns from multiple types of data such as text, image, audio, and video instead of learning from just one type of data.
In our traditional machine learning algorithms, we train the machine with only one type of data but in the real world, there might be a case when the model has to predict or classify the input data which has more than one type of data. In such cases, we use multimodal machine learning.
One example where we can use multimodal machine learning is video analysis to analyze both video and audio. By training the model on both video and audio we can analyze the emotions, objects, and events in the video.
Microservices architecture is an approach in which an application consists of many loosely coupled and independent components or services. These independent components or services usually have their own technology stacks. These components or services communicate with each other with the help of REST APIS, event streaming, and message brokers.
The main benefit of using microservices is that when we have to update the application, we do not have to touch the whole code, we can add new features independently to the components without touching other components. We can scale components independently of each other instead of scaling the whole application which reduces the cost associated with scaling.
Big companies like Netflix, uber,airbnb, amazon, and Spotify are using microservices and more companies will likely use this in the future. The global microservices architecture market was valued at $3.3 billion and is expected to reach $7.8 billion by 2028.
5. No and Low Code ML Platforms
No and low code ML platforms allow you to build complex machine learning models without using programming or low code programming, they allow the functionality to build machine learning models just by using drag and drop features. Since finding an experienced programmer with the required skill sets is not an easy task these days where good programmers are always in demand.
So these kinds of platforms are very helpful for businesses.
Some popular no-code or low-code machine learning platforms are Google AutoML, Microsoft Azure ML Studio, IBM Watson Studio, and H20.ai.Less than 25% used this technology in 2020 and 70% of the new applications will use low code or no code by 2025.
In conclusion, machine learning is a very rapidly evolving field with many innovations coming in this field one after another, and 2023 promises to be a year of exciting development in this area. By learning about the top 5 trends of machine learning in 2023 businesses can learn how they can use machine learning to increase productivity, promote growth, and provide better customer experiences.
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