Machine learning is a wonderful technology that enables computers to work without being explicitly “told” what to do. Modern day technology evolved so much that we can train machines to improve data processing and the type of information that we provide. Today, as this type of technology evolved and was emancipated by experts in the industry, we can enjoy self-driving cars, intuitive web search, speech recognition software with numerous practical applications, personalised marketing strategies and not only. As we can all guess, the evolution of machine learning is unlikely to stop soon. While the technology is not that recent, only recently it has been widely adopted by an increasing number of companies. For today’s generation, machine learning is the buzz. But what are the newest machine learning trends that you should keep your eyes peeled for?
Robotic process automation
Robotic process automation has become widely adopted since humans began to rely increasingly on machine learning. The technological revolution phenomenon is dominated by robots and smart drones that took over many tasks previously performed by humans. Tasks that were, inevitably, subjected to human error. Robotic process automation extends today in manufacturing, health, finance and many other industries. While there is a keen concern about “robots taking over our jobs”, experts say that this shouldn’t concern us for now and not even in the future. While there will be necessary a reprofiling of many of us, focusing more on soft skills and programming jobs, we will have our jobs secured. Robot process automation will only make our jobs easier, taking over those redundant and repetitive tasks. plus, some intelligent mind to create the blueprint of those smart robots will still be necessary.
Better IT operations
There are many components out there today that generate impressive amounts of data: hardware components, software components, servers and operating systems. IT is generating massive volumes of data that can be transformed by machine learning into better, more accurate operations. However, we should make sure that we fully understand that not all data can be successfully used as inputs for machine learning. Only that type of data that can be used to make an enterprise proactive and more productive. Machine learning filters all the data that it receives and generates intelligent insights to businesses using such technology. This allows them to use information in such a manner to adapt and perfect their business processes, all this while being supported by predictive analytics and better machine learning operations.
Higher transparency in decision-making positions
The advantages offered by machine learning in a variety of industries have been felt enormously. Industries such as finance, health retail, logistics and medicine have been largely impacted by the perks offered by machine learning. The algorithms used by this technology are generally enforced in loan application processing and medical diagnosis. Smart watches and health tracking devices are in growing demand, currently and the information provided by those can be used by medical experts to put accurate diagnosis.
Machine learning is an amazing tool (read here more about data science vs machine learning to better understand the concept) in transforming the whole decision-making process into a more transparent and accurate one. In those domains where rules and laws are the standards, think of an HR department, for instance, machine learning can help companies eliminate decisions made on gender, skin colour or religion biases. Robots and algorithms are unlikely to be influenced by such coordinated, being “trained” to pay attention to those relevant variables exclusively.
Higher cybersecurity capabilities
While higher access to data and new way of processing it is offering new development opportunities, progressive hacking techniques and methods have also appeared. Interconnectivity makes smart devices more vulnerable to such attempts and this could become a worldwide vulnerability. But the tech evolution is also due to put a strain on those attempts through new, innovative methods and security standards. Since machine learning has impressive capabilities, it is easy to adapt to meet new challenges when it comes to cybersecurity. Machine learning offers the advantage of anticipating potential security threats and making those less likely to occur.
Machine learning creates new job opportunities
Hot when it comes to the job industry, machine learning jobs have been in popular demand, lately. There is a huge gap when it comes to data scientist jobs and machine learning professionals might be the next best thing to be in the near future. The educational system will undoubtedly be disrupted by this increasing demand and education providers will have to find appropriate ways to fill the gap in the industry. Hiring issues will remain severe in this particular sector as the demand is increasing and there aren’t enough specialists to fill in those positions.
The future of machine learning
Machine learning is certainly big and will develop furthermore in the following years, immersing in more areas of our everyday life.
Fraud detection in the baking industry is based on such technology, accurate medical diagnosis is put based on the information provided by such technology and all areas of our lives are changed to different degrees by it.
Business in various sectors experienced a never-seen-before growth and potential. In 2020, it is estimated that approximately $50 billion will be directed to machine learning developments in a variety of sectors. Many start-ups and small businesses will also experience the perks offered by this type of technology. With its development, the prices for such tech will become more accessible increasing the number of establishments that have easy access to it. The forecasts when it comes to machine learning adoption are promising, more than 70% of the businesses today being estimated to invest in such technologies in the near future.Conclusion
2019 holds such an amazing potential when it comes to wider adoption of machine learning techniques. The algorithms on which this technology works will become higher performing and more accurate. New solutions to various everyday matters will shortly take a palpable shape, thanks to artificial intelligence and machine learning. Our lives, in all their aspects, will be redefined by machine learning.