Machine Learning

What is Machine Learning & Real world examples of Machine Learning.

Machine learning is a type of artificial intelligence (AI) that allows software applications to become more accurate in predicting outcomes without being explicitly programmed.The processes involved in machine learning are similar to that of data mining and predictive modeling.

Examples and real world use cases of machine learning: 

 

Financial Services:

Online Fraud Detection

Machine learning is already used by cyber security firms to protect enterprises from online frauds and money launderings.ML will help personal finance customers with right products to choose for their Insurance and fintech needs.

Customer satisfaction

Machine learning helps firms to track customer spending patterns and customer churn before they occur.They analyse the user activity and provide insights into the data.

Calculating risk.

Smart machines can analyse a large number of datasets (credit scores, spending patterns, finance data) to accurately assess risk in both insurance underwriting and loan assessments, tailoring them to a specific customer segmentation and profiles.

Social Media Services:

Social media networks are using machine learning to provide personalised news feeds, and ads targeting to right audience

Face recognition is one example ,If you upload a friend picture then facebook detects the friend picture and scan through unique features and your friends list and tags accordingly to match it.

Virtual personal assistants

A virtual assistant is a software agent that can perform tasks or services for an individual. Sometimes the term "chatbot" is used to refer to virtual assistants generally or specifically those accessed by online chat (or in some cases online chat programs that are for entertainment and not useful purposes).

Virtual Assistants are integrated to different platforms.

For example:

Smart Speakers:

Amazon Echo

Google Home Smartphones

Samsung Bixby on Samsung S8

Mobile Applications: Google Allo

There is many use cases and examples of Machine Learning exists and it is still evolving day by day,As we see now enough data is available with companies like

Amazon,Google and other big companies.

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