Machine learning is an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed. Machine learning focuses on the development of computer programs that can access data and use it to learn for themselves.

The process of learning begins with observations or data, such as examples, direct experience, or instruction, in order to look for patterns in data and make better decisions in the future based on the examples that we provide. The primary aim is to allow the computers learn automatically without human intervention or assistance and adjust actions accordingly.

Machine learning algorithms are often categorized as supervised or unsupervised.

• Supervised machine learning algorithms can apply what has been learned in the past to new data using labeled examples to predict future events. Starting from the analysis of a known training dataset, the learning algorithm produces an inferred function to make predictions about the output values.
•  unsupervised machine learning algorithms are used when the information used to train is neither classified nor labeled. Unsupervised learning studies how systems can infer a function to describe a hidden structure from unlabeled data.

Why is machine learning important?

Machine learning is important because it gives enterprises a view of trends in customer behavior and business operational patterns, as well as supports the development of new products. Many of today’s leading companies, such as Facebook, Google and Uber, make machine learning a central part of their operations. Machine learning has become a significant competitive differentiator for many companies.

Explaining how a specific ML model works can be challenging when the model is complex. There are some vertical industries where data scientists have to use simple machine learning models because it’s important for the business to explain how every decision was made. This is especially true in industries with heavy such as banking and insurance.