The history of machine learning goes back to the 1950s, when researchers were thinking about creating artificial intelligence that could learn from data. But it was not until recently that machine learning has experienced truly strong development and growth. Because we have entered the age of web-based technologies and moved away from the desktop, it has become the norm to produce, consume and control huge amounts of information every day.
Enabling instant data exchange and analysis has become a priority, and the need for automated data transfer has given a new rise for the advantages of machine learning.
What machine learning is and why it is getting more and more important
Machine learning represents a method of data analysis which allows automating the process of building an analytical model. Basically, this means that algorithms repeatedly learn from data, using specific inputs, and build models that create predictions, but not strictly programmed instructions. When the model works with the new data, it learns to adjust based on previously received information, and makes it possible to produce new reliable results.
Since its beginning, machine learning has significantly changed, shifting away from the concept of artificial intelligence and concentrating on the development of probability theory models and methods that solve practical tasks. Today, machine learning is mostly focused on conducting big data calculations iteratively, fast and without human involvement. Contributing to this is the constantly growing amounts of data, data variety, affordable data storage, more powerful computational processing, and the need for complex analysis.
In real life, it’s not always apparent how machine learning applications work and what they specifically do, but the results are part of everyday life. Among some of the examples of machine learning algorithms are web search results, email spam filters, fraud detection algorithms and even self-driving vehicles, such as Google cars.
Below you can see the forecast analysis made by BCC Research that shows how the smart machine market is changing, growing nearly 20 percent every year.
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