The power to Think, Decide and Act based on situation, emotion and person is something that makes Human a very unique species in the ecosystem.
Machine Learning is like building the Human type of behavior in a Non-liven Object/Machine/System based on some highly rich and complex algorithms and techniques.
Machine Learning helps me what I should take an fits my taste before I myself realize and ask for the same.
Before deep-diving into the details and granularity of the Machine Learning features. Let’s get a feel and heads up – where in our day-to-day real life Machine Learning is important and makes sense :
- Banking / Retail / Telecommunication
- Prospective Customers and Partners
- Satisfactory index of the Customer (based on relationship, transaction, marketing campaign etc.)
- Fraud, Waste and Abuse of Claims
- Forecasted Credit Risk and credibility of the customer
- Effectiveness of a Marketing Campaign
- Eg: How many accepted the offer and how many rejected it. Any decisive factors leading to acceptance.
- Cross Selling and Recommendations
- Eg: Ecommerce sites : People who purchased this product also purchased this
- Contact Center (helps the CSR to engage the customer during the call with the relevant data)
- Eg: We have seen that you have ordered the cheque books to a separate address (different from the registered address) – would you like to change your Address Details
- Healthcare & Life sciences
- Scanning & Screening – Biometrics
- Drug Discovery based on the component mix
- Diagnosis and remediation based on the Symptoms, Patient Record and Lab Reports
- AECP – Adverse Event Case Processing Scenarios based on drug, patient, geo, climatic conditions, past history, food intake etc.
- Handwriting to Text or Speech (Identification & Learning Graphology Techniques)
- Debugging, Troubleshooting and Solution Wizard
- Email filtering based on Spam
- Text & Mail categorization/recommendation
- Support Issues and enriching KeDBs (Knowledge Error Databases)
- Friends and Colleagues Recommendation – via Facebook, LinkedIn, Twitter etc.
- Self-Driving Cars – by building artificial intelligence and algorithms
- Image Processing
- Handwriting / Signature / Fingerprint / Iris / Retina Verification
- Face Recognition
- DNA Pattern Matching
(Feel free to suggest and help me enrich this list based your experience and the real time scenarios you have witnessed)
- Building something with a machine/non-living object which is a replica of human brain and that caters to meet the brains of millions and billions of users – is NOT an EASY job.
- A Rich Volume, Quality Data and Flawless Algorithm is very critical for building/training a Machine Learning Model to think/decide/act like humans do.
- With millions/billions of non-stop data processing – human mind can get fatigue/tired. At times the Human factor also creates a “Dependency“. This is where Machine Learning Algorithms play a crucial role. Build once and automate it.
- In simple words : “Big Data + Machine Learning = Deadly Duo“
Stay Tuned and Watchout for this space for Detailed Blogs/Notes/Links on Deep Diving Machine Learning. Till then Thanks for Stopping By.
Happy Learning!! 🙂