What is Machine Learning (ML) and its real-world applications?

Do you know how much data a person is creating every second? The numbers are astonishing. According to Domo, during 2020 every person created 1.7MB of data every second and it is not going to slow down in the future as well. It would not be wrong to say that we are living in the 'age of data'. One of the biggest challenges in front of businesses and organizations is to make sense of all the data. They are trying to deal with it by creating intelligent systems using the concepts and methodologies from Machine Learning (ML), one of the most exciting fields of computer science. We can call Machine Learning the application and science of algorithms providing real sense to the data.

More precisely, machine learning is a subset of Artificial Intelligence (AI) and a field of computer science with the help of which computer systems can extract patterns out of raw data by using an algorithm or method. Machine learning allows the computer system or machine to learn from experience, without being explicitly programmed and human intervention.

Applications of machine learning −

Machine learning is the most rapidly growing technology and currently we are in its golden era. Starting from Spam-filtering, one of the first applications of ML, it is used to solve many real-world complex problems as follows −

  • Emotion analysis
  • Sentiment analysis
  • Error detection & prevention
  • Weather forecasting & prediction
  • Stock market analysis & forecasting
  • Speech synthesis
  • Speech Recognition
  • Customer segmentation
  • Object recognition
  • Fraud detection
  • Fraud prevention
  • Building recommender systems for online shopping