Machine Learning is a subfield of AI that allows computers to learn from data without being explicitly programmed. This can be accomplished by employing a variety of algorithms, which are then used to make predictions or decisions.
Predicting customer behaviour is one of the most common applications of Machine Learning.
For example, if you own a business and want to predict how likely a customer is to return based on their previous behaviour, you could employ Machine Learning algorithms.
Another common use of Big Data in Machine Learning is to detect fraud. It is possible to detect patterns in data that indicate fraud using Machine Learning algorithms.
This can save businesses money on investigations and penalties while also opening up new business opportunities.
There are numerous Machine Learning algorithms available, so selecting the best one for the job is critical. Don’t worry if you’re not sure which algorithm to use; most businesses will have someone who can assist them in selecting the best one.
Increased technological adoption will drive a 38.8% increase in the global Machine Learning market from $21.17 billion to $209.91 billion between 2022 and 2029.