Why Machine Learning Matters!!
by Prabin Pramanik in Apps/DevOps, General
Machine Learning is going to change the tech world more than any other technology over the next several years. And in my view, organizations should move quickly to equip themselves with the necessary tools to avoid getting lost in obscurity or biting the dust.
So, in this blog, I share why I believe that every organization should try understanding Machine Learning.
The Why?
For a moment pause and think of the products that you use in your daily life. I bet they all use some flavor of machine learning and here are a few that I am guessing we all use almost every day:
- Search Engines or portals trying to answer your questions with the best possible answers? This is a ranking problem — helping people find the right thing when they search.
- Streaming platforms suggesting movies or songs to you? This is a recommendation problem — giving users things they might be interested in, without them explicitly searching.
- Online real estate database companies predicting the price of your house? This is a regression problem — predicting a numerical value of a thing.
- Mailbox providers identifying an email as being spam or not? This is a classification problem — figuring out what kind of entity something is.
- Trying to predict the price of stocks you have? This is a time series problem—aiding companies to observe the future price of stocks and make better decisions for financial works.
And the list can go on, but I guess you got my point. Machine Learning is everywhere and it can upend industries and your product if you don’t focus on it now!!
If I can go a bit further, I will say that it’s the new kid in town and organizations need to understand Machine Learning and the opportunities it carries for transforming their products and delighting the users.
By saying that organizations need to understand Machine Learning I certainly don’t mean that you got to have in-depth knowledge of its algorithms (it will be good if you can, but that’s beside the point) but that you should know enough on it to answer questions like:
- How much value Machine Learning is going to add to my products?
- What can Machine Learning achieve for my products?
A Parting Message?
There are so many changes happening so fast and amidst all this, Machine Learning can help us understand our world in ways we couldn’t otherwise. It can help us create and discover new things more efficiently than ever before.
Want to discuss more? Reach us and our experts would love to know your take on this and how it is impacting your products.