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Imagine you work as a researcher in a hospital. What if, when a new patient is checked in, you could calculate the risk of them dying? This would allow the clinicians to treat high risk patients more aggressively and result in more lives being saved. But, where would you start? What data would you use? How would you get this information from the data? The answer is to use machine learning. Machine learning, sometimes referred to as statistical learning, is a subfield of artificial intelligence (AI) whereby "learn" patterns in data to perform specific tasks.
Why know about Machine Learning Simplifies Product Marketing and Assists in Accurate Sales Forecasts. ML helps enterprises in multiple ways to promote their products better and make accurate sales forecasts. ML offers huge advantages to sales and marketing sector. Facilitates Accurate Medical Predictions and Diagnoses. In healthcare industry, ML helps in easy identification of high-risk patients, make near perfect diagnoses, recommend best possible medicines, and predict readmissions.Simplifies Time-Intensive Documentation in Data Entry. Data duplication and inaccuracy are the major issues confronted by organizations wanting to automate their data entry process.
Improves Precision of Financial Rules and Models. ML also has a significant impact on the finance sector. Some of the common machine learning benefits in Finance include portfolio management, algorithmic trading, loan underwriting and most importantly fraud detection.
Increases the Efficiency of Predictive Maintenance in the Manufacturing Industry. Manufacturing firms have corrective as well as preventive maintenance practices in place. However, these are often costly and inefficient.
What is Machine Learning?
Basics of Machine Learning
Machine Learning Algorithms
Artificial Intelligence
Artificial Neural Networks
Learning Algorithms
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Published March 25, 2020