A type of artificial intelligence (AI), Machine Learning involves using statistical learning and optimization methods to get computers to act without being explicitly programmed. Machine learning algorithms allow systems to identify patterns or trends in a given data, build self-explanatory models and predict new output values. Sort of learning and improving from experience. Accurate weather predictions, self-driving cars, recommendation engines on online shopping platforms, virtual assistants (Siri and Alexa) and smart homes, etc. are all applications of machine learning.
Machine learning is continuously evolving and is revolutionizing every aspect of our life and business. From helping in new drug discovery to surgery to predicting of success of nuclear devices without actually testing them. The analytical accuracy keeps on improving since the Machine learning algorithm updates autonomously and with each run it learns itself from the data it analyzes. This happens without any human intervention.
Basis the kind of research question and the available data, a scientist will choose to train an algorithm using different machine learning models:
- Supervised learning: In this model, the algorithm learns on a pre-labeled dataset, providing an answer key against which the algorithm evaluates its accuracy.
- Unsupervised learning: In this model, the algorithm identifies a trend in a given unlabeled data, builds a self-explanatory structure, and predicts new output values.
- Semi-supervised learning: This model takes the middle ground. It uses labeled data as a guide to training algorithms to identify trends in a given unlabeled data and predict independent conclusions.
- Reinforcement learning: Using trial and error, the algorithm learns from its experiences which actions yield the greatest rewards.
Importance of machine learning online course
Every major industry/sector around the world like Government, Finance, Healthcare, Agriculture, Retail, Transportation, oil & gas, cyber security, and marketing, etc. is using Machine learning algorithms. Armed with the insights from vast data, organizations can not only gain a competitive edge but also operational efficiency. Such rapid adoption by varied sectors underlines the importance of machine learning online course.
Following are the reasons to study machine learning:
- Immense career opportunities: While in 2020, the global machine learning market stood at USD 11.33 billion, it is projected to grow at a CAGR of 38.6% to reach USD 152.24 billion in 2028. The rapid embracing of AI and machine learning by various industries opens a world of opportunities for students of machine learning courses. And the icing on the cake is that such jobs come with high paychecks.
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- Machine Learning increases your knowledge and efficiency: Competencies in AI and Machine learning will help you add value to the working of your organization by using automation to enhance business operations, cost optimization as well as customer delight through real-time customer support. This facilitates faster career promotions.
- A better understanding of the customer: Machine learning helps in better understanding of the customers, their needs, preferences, and pain points. Machine learning algorithms, over time, start correlating the customer data with their behavior such that the organizations can not only personalize product/service development but also product strategy as per the customer needs. This creates long-lasting relationships with the customers and will have a significant effect on the organizations image as well as on its revenue.
- Customized Marketing Strategy: Real-time data analytics by AI and machine learning helps the organizations to tailor-make their marketing strategies & initiatives as per customer demands. This will result in a better ROI and thus will have a significant bearing on its profitability.
- Machine Learning & data science: Machine learning ensures that you gain competencies in data science as well. So in a way you are learning two things-Machine Learning and AI as well as Data Science. You will be able to analyze lots of data, extract important insights, and then will be able to use this to train the machine learning model. This means that on completion of this course, you will attract better career opportunities.
Thus Machine learning is fast emerging as an indispensable part of an organization. Thus there can never be a better time than now to build a career in machine learning since the right talent and skills will be in huge demand in this domain.