Machine Learning for Business
Machine Learning and Artificial Intelligence are often used interchangeable (synonyms), but they aren’t. Let’s see first how they relate to each other.
What is Artificial Intelligence?
A.I. is the science of training machines to perform human tasks. A.I. holds a concept that a computer can act like a human brain calculating the road around us every second of every day. Artificial Intelligence includes reasoning, cognitive processing, natural language recognition, planning and other research fields in addition to Machine Learning.
What is Machine Learning?
The name machine learning was introduced by Arthur Samuel in 1959. It is a field of science that explores the development of algorithms that can learn from and make predictions on data. The main difference with other common algorithms is the ‘learning’ piece. Machine Learning algorithms are not series of processes serially executed to produce a predefined output. They are instead series of processes aiming to ‘learn’ patterns from past events and build functions that can produce good predictions, within a degree of confidence.
Within the field of data analytics, machine learning is part of a piece known as predictive analytics.
ML models look for patterns in data and try to draw conclusions like people would. Once the algorithm gets really good at drawing the right conclusions, it applies that knowledge to new sets of data.