Why is Machine Learning on hype?

Machine learning is one of the favorite technologies in the market. From voice assistants to self-driving cars, machine learning is everywhere. Machine Learning is designed to operate with an idea of making computer algorithms that automatically upgrade themselves by discovering patterns in existing data without being explicitly programmed.

Machine Learning tools depend on data. The more data an algorithm obtains, it will turn out to be more accurate & effective. Machine Learning has impacted a tremendous amount of industries including retail, healthcare, robotics, mobile app development, travel, etc.

Machine Learning is used to process an extensive amount of user data including personal information, search history, content interactions, etc. to offer personalized data that we see in all social media.

Machine Learning has helped many companies simplify its user experience. For example: Netflix saved nearly $1 billion due to Machine Learning algorithms which helped in recommending personalized TV shows and movies to the subscribers.

Machine Learning algorithms are used to find and process objects illustrated in images. It is widely used by various applications like dating apps, photo editing apps, user-authentication apps, and more. For example: Facebook is working on launching an Machine Learning-based feature that describes images to vision-impaired people.

Apple's Siri and Google Assistant is respondent onto its users' commands. And, this is possible through Machine Learning's feature of speech recognition.

Machine Learning is also used in banking industries to cope up with fraud. Machine Learning tools scan the transactions made real-time and provide a fraud-score. And, this process is impossible to be done manually. For example: Paytm has various machine learning tools that study billions of transactions and determine which is legitimate and which is fraudulent. This helps in dealing with money laundering cases.

Machine learning has already increased its importance in our daily lives, and a lot more has yet to be uncovered. With the booming market for technology and Internet of Things (IoT) solutions, it is believed that more digital data will be obtained, which will increase the demand for machine learning. Machine Learning will continue to evolve to make our daily lives easier, and lower costs for business to operate. This will result in a boom in cloud-related jobs.

Source: HOB

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