Future Of Machine Learning: Bright Or Brief?
Machine Learning has made a big buzz in the market since its very inception. So, what is ML and how does it contribute to the evolution of the world as we know it? Arthur Samuel, an American pioneer in the field of AI, defined ML as “a field of study that gives computers the ability to learn without being explicitly programmed.”
ML algorithms come with the ability to automatically study data and learn from it, without any assistance or expertise. ML machines and applications are designed to process large quantities of data using algorithms that change and get better with time.
The primary purpose of machine learning is to enable machines to teach themselves by reading data and making precise predictions. The next important question is – what is the future of Machine Learning? Is ML here for a cameo or here to stay for good? Let’s find out!
What Is The Future of Machine Learning?
Yes, the future of Machine learning looks quite promising. The demand for Machine Learning experts is immensely rising all around the world. Right from IT, Finance, and Commerce, every industry commercializes Machine Learning for better results. Here are some statistics that vouch for the true potential of ML:
- Advancements in AI and machine learning have the potential to increase global GDP by 14% from now until 2030 (WSJ, 2019).
- 50% of respondents said that their companies have adopted AI in at least one business function (McKinsey, 2020).
- 1/3 of IT leaders are planning to use ML for business analytics (Statista, 2019).
- 25% of IT leaders plan to use ML for security purposes (Statista, 2019).
- 61% of marketers say AI is the most critical aspect of their data strategy (Max G, 2019).
In addition, here are some of the impressive milestones that have been achieved thanks to the host of benefits brought to the table by Machine Learning:
- 89% – The level of accuracy of Google’s Deep Learning program in detecting breast cancer (Health Analytics).
- Machine learning methods used to predict the mortality of COVID-19 patients demonstrated 92% accuracy (Nature.com, 2020).
- 46.8% – the accuracy of Google’s machine learning-powered lip-reading system, which topples professional human lip-readers with 12.4% accuracy (VB, 2019).
- Google’s lung cancer detection AI outperforms six human radiologists (VB, 2019).
- 60% – the reduction in translation errors of Google Translate when it changed to GNMT – a translation algorithm powered by machine learning (AIM, 2020).
The secret to the success of the ML concept lies in its very purpose. It is essentially a category that falls under the Artificial Intelligence umbrella. It involves developing software and algorithms that help in making predictions from data. Technically speaking, it is a human-made intelligence (AI) application that permits systems to learn and improve from experience.
Applications Of Machine Learning Across Industries
The machine learning future trends are evident in its applications across diverse industries across the globe.
Today it spans diverse sectors like IT, banking and finance, the automotive industry, marketing and sales, media and entertainment, and gaming. Let’s take a closer look at how Machine Learning is helping industries evolve at a speedy pace.
Robotics Field:
A blend of Machine Learning and Artificial Intelligence has certainly accelerated the growth of the robotics industry. A Hong Kong-based company Hanson Robotics developed and activated Sophia – a social humanoid robot on February 14th, 2016, all through the power of Ml and AI.
Experts in this field are on a constant lookout for solutions to help evolve robots to a point where they can mimic human expressions and emotions. The day is not far when robots will be capable enough to handle mundane tasks, leaving the more creative ones for humans. This is being achieved via AI, ML, computer vision, and so on.
Automotive Industry:
One of the best examples of the impact of Machine learning on the automotive industry is Tesla’s self-driving cars. Here, you simply have to punch in the location, and the car will get you there safely. They are proof of just how much can be achieved if we know how to leverage the benefits of ML.
There are other leading companies such as Google, Mercedes Benz, Nissan, and more who are actively investing in ML to make their cars safer on the road. This is done by equipping the cars with ML-enable features that bring more precision to the table, for example – HD cameras, IoT sensors, voice recognition systems, and such.
Medical & Healthcare:
Automated medical systems built on the back of ML can analyze and learn from patients’ medical histories to deliver an accurate diagnosis. This can help with avoiding unnecessary tests that can lead to additional expenses and stress caused to the patients.
McKinsey Global Institute estimates that using machine learning techniques to better and informed decision-making could generate up to $100 billion in value based on optimized innovation, enhanced efficiency of clinical trials, as well as the creation of new-age tools for physicians, insurers, and consumers.
Machine Learning Future Scope In India
The global machine learning market was valued at INR 839.55 Bn in 2020. It is expected to reach INR 7632.45 Bn by 2027, expanding at a CAGR of ~37.16% during the 2021-2027 period.
The future of Machine Learning in India is a bright one given that leading organizations all over the nation are now inclined towards investing in new-age technology. As such, now is the time for aspiring developers to gain mastery over Machine Learning concepts.
Best Machine Learning Course in Pune – Enroll with Cyber Success
Do you aspire to mark a mark in the dynamic field of Machine Learning? Start with Cyber Success – our course is structured to impart skills using the two most popular programming languages – Python and R. Our students are trained to master ML algorithms such as Black-Box Methods, Neural Networks, and Support Vector Machines. By the end of the course, aspirants will be able to create predictive models using Amazon Machine Learning Services.
In addition, they are trained to provide reports to management using Tableau data visualization software as well. With Cyber Success, students will learn to apply Machine Learning to practical scenarios and get 100% placement assistance with mock interviews and aptitude tests. Enroll with us to gain a certificate in Machine Learning and kick-start your career. If you are looking for excellent Machine Learning courses in Pune, feel free to contact us at (+91) 9168665643, (+91) 9168665644, or drop an email at hello@cybersuccess.biz
