Machine Learning is the latest technology that has boosted many industries. With the help of Machine Learning, computer systems can take all the data of the customer and utilize it. Machine Learning will operate on what is being programmed whilst also adjusting to new conditions or changes. In addition, algorithms will adapt to data, developing behaviors that were not programmed prior.
ML to read and observe context means digital assistance could browse emails and extract the essential information. Intrinsic in this learning is the capacity to predict the future behavior of customers. This will guide you to understand your customers more intensely and don’t just be responsive but active.
It is used in many industries and sectors, and it possesses the capacity to grow better with time. Many sectors have already implemented ML in it.
Here are some real-life instances of machine learning.
Real-world examples of ML
- Image recognition
- Speech recognition
- Medical diagnosis
- Statistical arbitrage
- Predictive analysis
Image recognition is one of the best and most used examples of Machine Learning that is used in the real world. It is an example that everyone is aware of and has used once in their lifetime. It is used to recognize an object as a digital image based on the intensity of the pixels in black and white photos or color images.
Real-world examples of image recognition are:
- A label on an x-ray, whether cancer or not
- Assigning a name to a face in photographs, for example: tagging people in social media through image
- Identifying handwriting by separating a single letter into small images
Machine learning is generally used for facial recognition through an image. Using a database of people, the system can easily identify the commonality and match it to the faces. This is commonly used in law administration.
With the help of Machine Learning, you can easily translate speech into text. Such kind of software applications can convert live voice or recorded voice speech into text files. The voice can be separated based on the intensities and on the time-frequency band as well.
Real-life examples of speech recognition
- Voice search
- Voice dialling
- Appliance control
Here is some commonly used speech recognition software like Google Assistant, Alexa, Siri, Cortana.
ML can also help in disease diagnosis. Many of the physicians use chatbots that too with speech recognition ability to detect the patterns in symptoms.
Real-life examples of medical diagnosis
- Guiding in formulating diagnosis or recommends a treatment option
- Oncology and pathology uses Machine Learning to identify cancer forming tissue
- Interpret bodily fluids
In the case of rarest diseases, using facial recognition and Machine Learning together can help scan the patient’s photo and identify phenotypes that correspond with rare genetic diseases.
Arbitrage is a type of automatic trading strategy mostly used in finance that manages a large number of securities. The strategy uses a trading algorithm to interpret a set of security using economic correlations and variables.
The real-world instance of statistical arbitrage
- Algorithm trading that analyzes a market microstructure
- Analyzing large data sets
- Identifying real-time arbitrage opportunities
Machine learning optimizes it to enhance the results of trading.
Machine learning can segregate available data into groups, which are later on defined by rules that analysts set. Later on, when the classification is completed, the analysts can then calculate the probability of a fault.
Real-life instances of predictive analytics
- Analyzing whether the transaction is fault or appropriate
- Improving the prediction system to identify the fault
Predictive analysis is one of the most promising instances of ML. It is applicable for everything from product development to real-estate pricing.
Machine learning can easily extract structured data from unstructured data. For example, organizations assemble vast volumes of data from customers. Machine learning algorithm automates the development of adding datasets for predictive data tools.
Real-world examples of extraction
- Set up a model to assume vocal cord disorders
- Establish methods to prevent, diagnose, and treat the disorders
- Help physicians to diagnose and treat problems quickly
These processes are very tiresome. But ML can track and extract the information to obtain tons of data samples.
Machine learning has entered many sectors that are making life easy and fast. In the future, it will also be used in many more industries to provide convenience to us. You can hire a company that will provide you machine learning app development services with the development of applications based on machine learning or AI.
In this blog, I have given some real-world examples and usage of applications based on Machine Learning. You can go through the example and modify it as per your requirement and industry. I hope this blog will help you to select the industry in which you want to develop your application.
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