Here’s Why Machine Learning is the Next Big Thing
The amount of data we have been producing in the last couple of years has been incredible. With increased use of handheld devices and the internet almost becoming free and inevitable, we now resort to smartphones for questions we have and don’t. Data is what is putting the smart in smartphones and this has invariably led to the rise of one of the crucial aspects of artificial intelligence – machine learning. Thanks to this technology, we have optimized several tasks and processes which were starting to become redundant.
We have also moved towards an intuitive environment, where machines are making it easier for us by recommending things we are most likely to consume or purchase. But the application of machine learning does not just end there. Machine learning could join the bandwagon of fire, wheel, beer and yes, the internet.
It is Shaping Real World Infrastructure
Throughout the world, there is researchers and machine learning enthusiasts who are using their creativity and technology to make this world a better place. Today, power grids, logistics, companies and more aspects of people welfare sectors have started using data to make smarter autonomous decisions. There are apps and algorithms in the Internet of Things that connect to your power supply and give you real-time information on the amount of energy you have consumed and compare it with that of your neighbours’. The system also gives you an idea of the equipment consuming more electricity so that you can decide and restrict their energy consumption. Starting from a smaller scale, these ideas influence the biggies like smart power grids, supply-chain systems, automated machines that can sense probable malfunctions and more.
Predictive Analysis in Advertising
If there is one sector that could make the most of machine learning and its allied technology, it has to be advertising and digital marketing. With so many data touchpoints and new ways to record data being strategized increasingly, machine learning algorithms can predict the effectiveness and the reach of a campaign even before it is launched. Based on the past behaviour of the users in a data set, their preferences and responses to previous campaigns, these algorithms can predict the score of a marketing campaign and share interesting insights on improving its performance.
If advertising could make the most of machine learning, healthcare would be the most beneficial in terms of the breakthrough insights machine learning can generate. With the increased use of electronic health records, it has become easier to retrieve and access patients’ medical records. With such data in hand, it is now easier to offer tailored wellness programs and treatment agendas to patients. Besides, Google has also come up with a machine learning algorithm that could detect benign tumours on mammograms. Stanford, on the other hand, is using complex deep learning techniques to detect skin cancers. With the Internet of Things and machine learning algorithms, there are companies that are fighting the seeping in of counterfeit medicines in the market. With just a QR code and smart algorithms, such companies have made it possible to differentiate fake medicines from the real ones so patients could know the genuineness of their purchase.
That’s not it! Machine learning is also applied to fraud detection, the stock market, transportation, entertainment, retail, travel and more. The best part is that we are taking strong steps towards creating what we have been dreaming all through the decades – an interactive robot.
Do you still think machine learning is underwhelming?
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