Machine learning in the age of Augmented Innovation
Machine learning is a type of artificial intelligence (AI) that allows software applications to become more accurate in predicting outcomes without being explicitly programmed. The basic premise of machine learning is to build algorithms that can receive input data and use statistical analysis to predict an output value within an acceptable range.
The processes involved in machine learning are similar to that of data mining and predictive modeling. Both require searching through data to look for patterns and adjusting program actions accordingly. Many people are familiar with machine learning from shopping on the internet and being served ads related to their purchase. This happens because recommendation engines use machine learning to personalize online ad delivery in almost real time. Beyond personalized marketing, other common machine learning use cases include fraud detection, spam filtering, network security threat detection, predictive maintenance and building news feeds.