The Motley Fool

Why is Machine Learning Such a Promising Technology?

Artificial Intelligence (AI) is extending its reach into many aspects of our personal and professional lives. Some areas within AI are already being actively implemented in algorithms used by companies and businesses. One of these subset areas which is proving to be very promising is machine learning.

Machine learning is a study of algorithms and statistical models which computer systems use to perform tasks without being given explicit instructions. The AI system makes use of pattern recognition and inference to “learn” over time how to be more effective and efficient in carrying out its tasks.

Iterative learning process

Machine learning is powerful and promising because it allows computer programs to learn from their own errors, and improve over time without human intervention. The power of this lies in an iterative process instilled into the system, which enables it to correct mistakes, refine its process and speed up its search for results.

Better, faster and more personalised

Several large companies have installed and gone “live” with a machine learning version of current software, and the results have been resoundingly positive. AI assists the programme to react faster, work better and also delivers more personalised results as it reacts to different users and “learns” their preferences. Though it is still early days, customised services tailored for each and every customer is the end goal.

Machine learning models

IT professionals are now trying to develop techniques to automate the standard workflow of machine learning. Normal development requires a time-consuming process and lots of technical programming knowledge, which makes it out of reach for normal computer and cloud users.

Business users who wish to create machine learning models will soon be able to make use of simple tools to design their own machine learning algorithms and models, mining the relevant information that they require.

The Foolish takeaway

With so much effort and capital pouring into AI research, it will only be a matter of time before machine learning forms a mainstream part of almost all computing and phone-enabled software.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.