What is machine learning? How it is helpful for decision making?

Technology truly has served as a catalyst in the process of development of our civilization. Human and machine co-exist today in a manner that they create a significant blend to connect and ease access issues. In this whirlpool of technology, AI (artificial intelligence) deserves a definite mention. It is based on a heavy algorithm. Machine Learning as an integral part of AI.

Machine Learning implies a concept where the central belief that computers are capable of learning by themselves without programmed inputs to perform certain tasks. It is basically the process of empowering the computers. This can be broadly divided into supervised, unsupervised learning and even semi-supervised learning. In recent time, Machine Learning has come to limelight repeatedly in the world of technology.

Humans are empowered with the mind that can channelize the resources to the optimum level. It is through this mind that the skill of decision making is utilized. There are both positive and negative aspects of Machine Learning. On one hand, it can help in processing data and take an objective decision, there is an issue with understanding human capital when it comes to non-human decision makers. However, unbiased and non-subjective processing of data can help in getting the results without a load of sentiments and prejudices.

Machine Learning has an additional benefit of processing large chunks of data that is sometimes tiresome for men to do and eventually lead to a failure in making the right decision. It is easily adaptable to new and complex data. After processing the data, it is capable of analyzing any flaws or errors. These also help in creating effective plans of Actions for improvement. There is a co-relation between inputs and outputs in the process of decision-making. These points are extremely useful for ventures that work mainly around risk management.

However, there is also dependency factor towards technology without the input of skills from the Human Resources which is the case for too much technological intervention anyways.

Updated on: 02-May-2022


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