Machine learning is behind chatbots and predictive text, language translation apps, the shows Netflix suggests to you, and how your social media feeds are presented. It powers autonomous vehicles and machines that can diagnose medical conditions based on images.
The three types of AI and ML are:
Supervised machine learning models are trained with labeled data sets, which allow the models to learn and grow more accurately over time. For example, an algorithm would be trained with pictures of dogs and other things, all labeled by humans, and the machine would learn ways to identify pictures of dogs on its own. Supervised machine learning is the most common type used today.
In unsupervised machine learning, a program looks for patterns in unlabeled data. Unsupervised machine learning can find patterns or trends that people aren’t explicitly looking for. For example, an unsupervised machine learning program could look through online sales data and identify different types of clients making purchases.
Reinforcement machine learning trains machines through trial and error to take the best action by establishing a reward system. Reinforcement learning can train models to play games or train autonomous vehicles to drive by telling the machine when it made the right decisions, which helps it learn over time what actions it should take.
1. Artificial Intelligence Future in Healthcare
Nearly 86% of the mistakes can be prevented in the healthcare industry and AI will play a vital role in this. The future of AI in healthcare is a step toward democratizing healthcare for the benefit of patients and healthcare professionals alike, while at the same time making it less costly and more accurate through AI-powered predictive care.
2. Artificial Intelligence Future in Banking
According to IHS Markit’s AI in Banking report, the global business value of AI in Banking is anticipated to reach $300 billion by the end of 2030. Artificial Intelligence is all set to take center stage in the next decade in verticals like business intelligence and security with reduced cost, increased productivity, and enhanced customer experiences. Robo Advisors in wealth management will become a common sight and game-changers in the banking space-saving significant amounts of time for wealth managers and customers.
3. AI to Open Up Millions of New Job Opportunities
“Artificial Intelligence will take our jobs!” is the most common fear surrounding artificial intelligence in the future. With artificial intelligence automating all kinds of work, we can think of a more comfortable future for ourselves that will create new jobs and not displace them. According to a report on the Future of Jobs by the World Economic Forum, AI will create 58 million new artificial intelligence jobs by 2022.
4. Machines Directed by Humans
Now machines have defeated the smartest human minds in Chess and Go. Also when it comes to recognizing faces and driving safely, machines can outperform humans. Now, there is an increasing prediction that man+machine will be a reality soon. Machine learning applications are programmed to learn and adapt and here machines will be trained by humans providing them with large chunks of data.