Machine Learning and Practical Applications
The most important feature of today’s 4.0 technology era that the world is pursuing is artificial intelligence. Along with this technology development trend, the fields of supercomputers and artificial intelligence are an extremely hot industry in the technology world. An extremely important aspect of artificial intelligence: Machine Learning.
What is machine learning?
Machine learning is a method of analyzing data that will automate the building of analytical models. Using iterative algorithms to learn from data, machine learning allows computers to find deeply hidden valuable information without explicitly programmed where to look.
How is machine learning used today?
Have you ever wondered how an online retailer offers almost instantaneous offers for other products that may be of interest to you? Or how can a lender provide almost instantaneous answers to your loan requests? Many of our daily operations are supported by machine learning algorithms, including:
- Fraud Detection
- Search results on the website
- Advertise on websites and mobile devices
- Text-based emotional analysis
- Credit scoring
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Predict equipment failures
- New pricing models
- Detect network intrusion
- Identified through patterns and images
- Filter out spam emails
What fields are using machine learning?
Financial services
Banks and businesses operating in the financial sector use machine learning technology with two main purposes: identifying insights in data and preventing fraud. Insights will know about investment opportunities or notify investors of the reasonable trading time. Data mining can also find customers with a high-risk profile or use network monitoring to identify phishing signals.
Government
Government organizations working on public security or social utility have a lot of data sources that can exploit insights. For example, when analyzing sensor data, the government increases service efficiency and saves costs. Machine learning also assists in detecting fraud and minimizing the possibility of identity theft.
Health care
Machine learning is a rapidly growing trend in the healthcare industry, thanks to the advent of wearable devices and sensors that use data to assess patient health in real-time. Machine Learning technology also helps medical professionals identify trends or signals to improve treatment capabilities, diagnose diseases.
Marketing và sales
Based on past purchase behavior, websites using Machine Learning analyze purchase history, thereby recommending items that you may be interested in and interested in. The ability to receive data, analyze it, and use it to personalize your shopping experience (or execute a marketing campaign) is the future of the retail industry.
Oil and Gas
Finding new sources of raw materials. Analysis of underground oil fields. Predict oil filter sensor failure. Arrange distribution channels for efficiency and cost savings. It can be said that the number of machine learning use cases in this industry is extremely large and is still expanding.
Carriage
Analyzing data to identify patterns & trends is central to the shipping industry as it is dependent on the ability to effectively leverage each route and anticipate potential problems to increase profits. Machine learning’s data analysis and modeling functions are important to transport businesses, public transport, and other transport organizations.
