Technology has come a long way since its early years. Now, technology has evolved into something useful for everyone, including businesses. No matter your industry, technology like machine learning can be a Godsend for those who want to improve how they do business.
What exactly is machine learning? And how can it be viable for businesses everywhere?
In this brief overview, we will cover the following about machine learning in businesses:
- The myths surrounding machine learning
- The different uses for machine learning, AND
- The ways that your business can start using machine learning today
Let’s dive right in!
First, there are many myths surrounding the idea of machine learning. Here are some common myths about ML:
AI and Machine Learning are Alike
In actually, they are two different things, despite needed each other in order to function.
Machine learning is actually a subset to AI. In other words, AI needs machine learning in order to put the “I” in “intelligence.” That means machine learning acts as the “brain” of AI.
AI and ML Will Replace Us
While machine learning and AI will work to help humans, they won’t entirely replace us. Sometimes, AI and ML come with their own flaws, and will still require human intervention in order to work properly.
Needless to say, AI and ML will help to relax some of the responsibilities of humans, so that they can focus on other tasks.
Machines Don’t Need Experience To Learn
Like humans, machines need to learn how to do things too. When it’s fed data, machines are able to reference it at any given time through the algorithms that they formulate.
Machine Learning Uses
Next, let’s look at the various uses for machine learning. While there are many uses for the technology today, here are some notable ones:
Machine learning helps to classify data. Depending on the patterns and trends that its fed from the data, it’ll categorize them. Thus, algorithms are created, thanks to the classifications made when studying the data.
Supervised and Unsupervised Learning
In addition, machine learning mixes of supervised learning with unsupervised learning. Here’s how both of these types of learning work:
- Supervised learning uses a training set for models by using data that’s already labeled or tagged with the right answer. In other words, ML learns from past experience by either gathering past data or the output from said past event. This allows ML to categorize data correctly or predict outcomes.
- Unsupervised learning tackles unlabeled data by evaluating and clustering it. This provokes the algorithms to automatically uncover hidden patterns or data groupings. This allows for ML to tackle more complicated problems and discover patterns faster than what humans can handle.
Plus, there is reinforcement learning, when machine learning is trained to make choices by having the AI face a game-like situation. Through trial and error, the computer solves problems, and then learns from them to better execute tasks for the programmer.
So far, businesses can benefit from machine learning, because it allows for humans to work alongside machines, and vice versa. With that said, here are a few tips on how to apply ML to your business endeavors:
- Focus On The Larger Problem
Rather than work tediously with smaller issues, allow machine learning to tackle them for you. You can automate small tasks with online ML tools, while you work on the bigger issues. When you train ML to tackle smaller tasks, it’ll know what to do from now on.
- Focus On Both Data AND Context
Nowadays, it’s not enough to study data. You’ll also need to study the context of said data. It all starts by feeding both data and context into ML, so that the right algorithms can formulate, and it can find the right correlations.
- Make Adjustments Regularly
Finally, working with data is NEVER a one-time thing. You’ll need to update your data when using machine learning. Just like updating an app or a device, ML requires that same form of maintenance. And, just like how your business may experience changes, don’t leave ML out of the loop when it comes to said changes. Update the data, feed data, and ensure that the right data is being studied and processed.
Ultimately, investing in machine learning for your business can be complex. However, thanks to this overview, you now have a better understanding of how ML uses, when to use it, and why it’s essential to your business.
George J. Newton is a writer and editor at Assignment writing services. As a business development manager, he oversees various businesses nationwide. As a content writer, he writes articles about business trends, coding, marketing, and other tech trends.