Things Startup Entrepreneurs Should Know About Machine Learning
Machine learning is playing an important role now a days not only in sci-fiction area but businesses too. And it is clear that machine learning already forcing massive changes in the way companies operate. Products like “Siri” and “Amazon Echo” is not only the limit remain for machine learning but more than 500 fortune companies are running more efficiently along with making huge money because of the use of machine learning into business. What exactly businesses and entrepreneurs are need to know about it? Here in this article you will find its appropriate answer, let’s have a look!
Also Read: Why You Should Include AI In Your Marketing Plan
About Machine Learning
Following points will give you explicit knowledge of machine learning and its basics :
- What is Machine Learning?
It is the subfield of computer science that deals with the study of pattern recognition and computational learning theory in “Artificial Intelligence”. It explores the study of construction of algorithm that can be maintained by making data-driven predictions or decisions consisting static program instructions. it deals with few of computer’s tasks where it is hard to designing and programming explicit algorithms with good performance, such as:
- Detections of network intruders or malicious insiders work in data breach,
- Optical character recognition,
- Computer vision and learning to rank,
- Email filtering
These are the basic criterias where it actually works.
- Terms Related To Machine Learning
Pattern Recognition, Computational Learning Theory, Algorithm Construction and Artificial Intelligence are the main parts of it. They can be elaborated as follows :
- Artificial Intelligence
Artificial intelligence is nothing but human made intelligent that has been integrated into the machine or digital devices to act like a human and to fulfill the human need. Where it plays an important role here to provide the algorithms for particular tasks as per the data patterns and other data functioning factors.
- Pattern Recognition
Pattern recognition is basically study of possibilities of predictions that mainly deals with the decision making in machine learning algorithms.
- Computational Learning Theory
Computational learning deals with statistics study in machine learning and is devoted to the designing and analysis of algorithms of it.
- Algorithm Construction
Algorithm in machine learning is the main and top most phenomenon that deals with the functioning and expected output fulfilling.
- Applications & Examples Of Machine Learning
- Finance,
- Recommendation & Web search engines,
- Text & Speech Recognition,
- Space, Robotics & Astronomy,
- Computational Biology & Drugs Discovery,
- Car Manufacturing & Automation
- Importance Of Machine Learning
In this fast paced technological era it is the top most buzz that contributes in high value predictions that can guide better decisions and smart actions in real time without human intervention. Hence if big data is gaining utter importance for the contributions it does, machine learning as a technology that helps analyze these large chunks of big data, easing the task of data scientists, in an automated process that is equally prominent. It impacts on data extraction, interpretation and mining done by involving automatic sets of generic methods that have replaced traditional statistical techniques.
In business, what “Machine Learning” stands for? And what entrepreneurs should know about it?
As we have seen the basic concepts about it till now in this article, we can conclude that it is indeed shaping the future of startup entrepreneurs and huge businesses. Businesses that are belong to the fields like automation, automobiles, biotechnology, genetic engineering, space research and astronomy, IT industry etc. would get much beneficial bonuses from machine learning, henceforth it gives the business people to develop a new and unique visions for future. So as per the need of agile technological world every entrepreneur should be knowledgeable about it.
Applications of Machine Learning in businesses
There are many advantages and applications in businesses it possesses, such as:
- Finance
- Market Research
- Data Driven Decision Making
- Business Growth As Per Pattern Recognition
- Stock Market & Trading
Conclusion
This article contains the basic knowledge about machine learning that every startup entrepreneur should know about. Hope it helped you well to know few essentials of it and its application in business and big data world. Liked it? Share it!