7 Ways That Machine Learning Tools are Affecting The World
You’re stuck in bumper to bumper traffic on your way to a very important appointment, when all of a sudden your GPS app alerts you to a less trafficked route allowing you to make it to the meeting on time.
You just finished watching an awesome tv show on your favorite streaming service, when it recommends a similar show that you end up binge watching in a few days and liking better than the original show.
You start typing a search into Google only for it to complete your search term as soon as you’ve entered in 3 characters.
If it seems like the machines know everything, there’s a reason for that.
It’s called machine learning and it affects all of us everyday.
Each of these everyday scenarios is an example of how machine learning tools are affecting the world and making lives easier.
Machine learning is also allowing businesses to provide better, faster solutions without needing a team of engineers working around the clock. This process is sometimes known as RPA or robotic process automation.
Machine learning is the science of giving computers the ability to “learn” or improve at tasks through data without the need for programming. Machine learning consists of the study of the construction of algorithms that learn from data. Machine learning is often confused with data mining which is more exploratory and is often referred to as “unsupervised learning.”
With more and more cheap data becoming available, companies like Workfusion are able to help automate workforce, workflow and data analysis without engineering resources saving companies time and money and allowing their engineers to use their time elsewhere. Machine learning also allows for the building of bigger and better models to solve more complex problems, allowing companies to identify opportunities for profit and mitigate losses.
7 Ways Machine Learning Tools are affecting the world already
- Waymo’s Self Driving Car. One of the most famous examples of machine learning is Waymo Google self driving car project. The Waymo algorithm has been learning since 2009 and has already driven over 4 million miles. It is Waymo’s hope that one day we look back on human driving as a relic of the past such as dangerous as cigarette smoking.
- Customer Service Sentiment Analysis. Called Sentiment Analysis a new form of machine learning is analyzing social media feedback on sites such as twitter and drawing conclusions about the feelings behind the posts, news and more. This allows companies to track purchase intent, compare feedback against competitors.
- Fraud detection. Both traditional banks and more internet friendly companies like Paypal and Venmo are using machine learning to detect fraud. Which is why if you’ve ever traveled and used your debit card or paypal account from a new foreign location you triggered a fraud alert.
- Personalized health monitoring. More and more hospitals and healthcare providers are turning to machine learning tools for everything from analyzing charts to reminding patients to take their medications.
- Voice recognition based digital assistants. One of the most common type of machine learning that we interact with everyday are digital assistants such as Apple’s Siri or Google Assistant. These type of assistants which can learn to turn on and off lights and regulate the temperature in your home among other skills are becoming more and more popular with the rise of Amazon’s Echo and Google Home.
- Image identification. Remember when you had to tag a friend in a picture on Facebook? Now using machine learning Facebook tags your friends for you. Image identification is being used by companies like Facebook and Google to help identify everything from people in your contact lists to businesses in Google Images.
- Altering maps and routes. As I mentioned in the introduction, machine learning is also an important part of businesses like Uber and Postmates which use machine learning to determine how much to charge for rides, arrival times for delivery and more.
As you can see, every day you interact with machine learning tools that make your life easier and make companies like Facebook, Google and Apple an integral part of your life.
In this article we looked at what machine learning is, the science of giving computers the ability to “learn” or improve at tasks through data without the need for programming and why it’s important for helping companies manage workforce, workflow, and data without wasting engineering resources.
You also learned about 7 different ways that machine learning tools affect the world daily such as fraud detection, image identification and health monitoring.
According to a study by Statistica 26% of companies have earmarked at least 15% of their IT budget for machine learning.
Don’t let your business get left behind.