Although the concept of Artificial Intelligence and machine learning was formed 60 years ago, it's back in the spotlight once again. By 2018, IoT devices will generate 400 zettabytes of data per year. Once there’s more data than ever, we need a tool to boil it down to something meaningful – and here’s where machine learning comes in handy.
What is machine learning?
Machine learning (ML) is the type of Artificial Intelligence that enables software to change its functionality when exposed to new programs and data and act accordingly without major code overhaul. ML apps reproduce the physical connections that occur in a human brain, although most tasks that AI is meant to perform require a lot more computing power than the average brain can handle. There are supervised and unsupervised machine learning algorithms. The former can apply their newly-gained knowledge to new data, while the latter draw inferences from databases. The general concept of Artificial Intelligence and machine learning were outlined and further developed by Alan Turing, John McCarthy and Herbert Simon between mid-40s and early 60s. Businesses’ interest in the new technology has diminished over time (the AI winter period); now we’ve entered another Artificial Intelligence hype cycle – and this time it may be back for good. Processing power and data storage facilities are getting more affordable. Big Data will soon boost enterprise annual IT spending to $ 242 billion. Since 2010, machine learning startups have raised[1] over $ 1 billion in funding. We’ve listed several machine learning applications examples below to show you what smart algorithms are capable of.
Machine learning and its applications: getting value from big data
[1]http://www.canadianbusiness.com/investing/shivon-zilis-bloomberg-beta-machine-intelligence/
[2]http://www.diabetes.org/diabetes-basics/statistics/infographics/adv-staggering-cost-of-diabetes.html [3]http://www.businessinsider.com/report-10-million-self-driving-cars-will-be-on-the-road-by-2020-2015-5-6 [4]https://techcrunch.com/2016/07/13/how-iot-and-machine-learning-can-make-our-roads-safer/ [5]http://www.mckinsey.com/industries/high-tech/our-insights/an-executives-guide-to-machine-learning
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