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December 18, 2024
We all are talking and hearing about Artificial Intelligence and Machine Learning. We keep hearing that Machine Learning is the future. But what exactly is Machine Learning and why people say it is the future? Developers are talking about AI/ML and learning and programming for the same which makes our lives more better and convenient. There are many machine learning development companies out there that develop supercool machine learning applications. Yet, some of us still are unaware of Machine Learning. Here is some information for you if you don’t know what it is and why it is so important!
What is Machine Learning
So, according to Wikipedia, “Machine learning is the scientific study of algorithms and statistical models that computer systems use to perform a specific task without using explicit instructions, relying on patterns and inference instead.”
In more simple words, we can say, Machine learning is the method of teaching the machine to learn from the user inputs without being explicitly programmed for it. Say, if the machine asks “How are you?” and the user answers “I’m fine, thanks.”, another user answers “I’m doing fine”, another user says, “I’m well. Thanks.” then the machine will automatically learn to answer “I’m fine, thanks.” from the user inputs. And that was the simplest example of a machine learning function.
Machine Learning is considered to be the subset of Artificial Intelligence, which means the machine’s own intelligence developed by humans.
Machine Learning in Daily Life
As Artificial Intelligence and Machine Learning are taking over the whole world, we also should adopt machine learning in our daily life. In fact, our personal assistants like Google Assistant, Siri and Alexa are the best example of Machine Learning and AI.
So, more and more apps use Machine Learning to improve their business efficiency. Uber is using machine learning to learn from the user behaviors and to calculate the fare based on a lot of factors, which helps Uber to improve its business.
With Machine Learning, not only some industries, but almost all industries are sure to get benefits. Here are some industries that can leverage the benefits of Machine Learning at a huge level.
- Medical & Healthcare
- Marketing & Sales
- Finance
- Transportation
- Agriculture
- Manufacturing
- Security
So, how machine learning is going to improve these industries? Well, keep reading to know it. We will dive deep into each industry getting benefits from machine learning.
Medical and Healthcare:
With Machine Learning, the Medical and Healthcare Industry is sure to get a lot of benefits. With machine learning, disease diagnosis can be quick and more precise. Robotic surgery can also be possible with Machine learning when surgeons cannot really treat the patient. With machine learning, patient’s care could be taken beyond the regular point. The following points could take the revolution in Medical Industry with the help of Machine Learning.
- Robotic Surgeries
- Accurate Diagnosis
- Prediction of Chronic Diseases
- Prevent Hospital-Acquired Infections
Marketing & Sales
The marketing and Sales department can also get great benefits by Implementing Machine Learning to their system and leverage huge benefits out of it. With machine learning, sales forecast and performance analytics can be improved multiple times. According to McKinsey reports, implementing AI in B2B sales, increases leads and appointments by 50%. Machine learning in Marketing can lead to the following benefits.
- Sales Data Analysis
- Accurate Sales Performance
- Increased Leads
- Improved Personalization
- Differential Pricing
Finance
Just like any other industry, machine learning can also boost the finance sector by serving a lot of purposes that can boost the finance industry multiple times. We can prevent fraud by using machine learning and predict the investments beforehand through machine learning algorithms. These points can be of use by implementing Machine Learning in the finance sector.
- Fraud Prevention
- Portfolio Management
- High-Frequency Trading
- Investment Predictions
Transportation
The transportation sector is already excelling with the use of machine learning and artificial intelligence together. Self-driving cars and other such systems have made safer transportation possible through machine learning. Machine Learning is capable of avoiding accidents and taking human safety a step higher. The following could be the major changes with machine learning in the transportation industry:
- Regulated Traffic
- Automated Driving
- Passenger Safety
- Safer journey
Agriculture
Even the agriculture industry is to get benefits from Machine Learning. But how? Well, accurately stored data of crop, temperature, season, pH, atmosphere, etc’s data could be used for machine learning and from machine learning, accurate predictions could be made which crop to seed this season and which not to. Moreover, more data could be processed through machine learning and every single thing related to crop management could be improved through it. Things could be better with machine learning:
- Crop Management
- Field Condition Management
- Crop suggestions
Manufacturing
When Henry Ford introduced the assembly line in the manufacturing industry, it brought a great revolution, and another such revolution can be brought to the manufacturing industry through machine learning. The raw material requirements, product quality control, efficient shipping route, etc. could be predicted through machine learning and make the manufacturing process faster and smarter. These tasks could be super-smooth through machine learning in the manufacturing industry.
- Raw Material Management
- Quality Checking
- Shipping Route Optimization
Security
Let it be real-time security or cybersecurity, machine learning has always got you back to protect you and your system. Real-time security can improve security systems through face recognition, theft alarms and much more we can’t even think of. For cyber-security, there are a lot of scopes from machine learning and improve security multiple times. For example, preventing suspicious activities, malware detection and prevention, etc. The following points can be improved through machine learning in security systems.
- Face recognition
- Anti-theft alarms
- Malware prevention
- Web forgery prevention
So, apart from all these industries, there are a lot of industries that could be improved to a whole new level through machine learning that we don’t even know exist. So, from all these, you must be knowing by now, that how Machine Learning could be the future of every industry and why you too should adopt machine learning in your existing system. You can get your own machine learning application developed and improve your business/app and keep it ready for the future.
Machine Learning is going to spread all over the world, so why don’t we also adapt it today and get ready for the future!
If you are searching for any Machine Learning development company, you are at the right website. You can contact us or drop an email at sales@inexture.com to schedule a free consulting session on AI and ML development for your business. We are available on Skype as bde.inexture to answer your questions. So, what are you waiting for? Book a free session and boost your business with the power of Machine Learning!
