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What if computers can be trained to “learn on the job”?
Over the past few years, the computer sciences specialty of Machine Learning has come a long way.
Today, computers can be programmed to spot statistical differences within the data that will give the computer the ability to label, represent numerically, and improve a statistical model.
The last three steps repeat, creating a continuous learning environment for the computer.
With every added data point, the computer becomes better at categorizing and labeling the data while simultaneously increasing the accuracy of the prediction model.
Machine Learning isn’t simply a theoretical exercise done in the confines of a university computer lab. We passed that threshold long ago. Now, Machine Learning is at use in everyday computing experiences and when put into the realm of business, produces significant benefits.
Because Machine Learning is a newer aspect of computer sciences, there really is no limit to what can be achieved with the right data and algorithm. Here are a few ways that businesses in a wide swath of industries are utilizing Machine Learning within their business model.