Machine learning is an increasingly common computing technology that enables algorithms to analyze, categorize, and make predictions about large data sets. Machine learning is less complex and less powerful than related technologies, but has many applications and is used by many large companies worldwide.
What is machine learning?
Machine Learning is designed to help computers learn in ways that are similar to how the human brain learns. ML uses large data sets and algorithms (models) to analyze and categorize data or make predictions. The more a Machine Learning model is used, the more data it processes, the better it becomes at its tasks. Models can improve themselves and can be updated by humans.
Unlike similar technologies such as Deep Learning, Machine Learning does not use neural networks. Although ML is related to developments such as Artificial Intelligence, it is not as advanced and powerful as those technologies.
Machine Learning has been around in various forms since the 1960s and is becoming more widely used. About 70% of financial services companies use some form of ML, based on certain metrics.
