The Advantages and Growth of Machine Learning in the Society.
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Machine Learning (ML) has come to change the world of technology, It is becoming an aspect of concern in so many industries. It is the aspect of artificial intelligence (AI) that allows machines to learn and improve from previous experiences, without being explicitly or specifically programmed for a task.
They are numerous ways in which machine learning is being utilized in society today. Below are real-life machine-learning application areas.
1. Self-driving cars: self-driven car utilizes machine learning algorithms, which allows the car to avoid obstacles and navigate the roads properly.
2. Image and speech recognition: Images and speeches are recognized through the use of machine learning algorithms, image and speech recognition are used in our mobile phones, an example of this use case is Siri for Apple products, and many more
3. Video games: Video games are made interesting and engaging through the use of machine learning. Realistic characters are created with machine learning algorithms. We can make use of VR as a good example here.
4. Health care: Machine learning has improved healthcare and reduced mortality rate over the past years, it helps in analyzing users' data and making predictions about the patient outcome, it also helps in determining if a patient is at risk of getting diseases like diabetes and heart disease, and even the most common of all, "ultrasound", this is bringing tech to our own feet
5. Fraud detection: Machine learning algorithms can be used to detect fraudulent activities in the financial sector, hence this prevents business losses and promotes financial stability.
The demand for professional machine learning engineers and developers is growing rapidly. According to (the US Bureau of Labor Statistics), "The employment of machine learning engineers is projected to grow by 22% between 2020 and 2030. ". Hence this shows that there is an urgent need for the society to produce more machine learning professionals.
The market value of machine learning is also fast-growing. According to (MarketsandMarkets), the global machine learning market is expected to reach $31.43 billion by 2025, growing at a compound annual growth rate (CAGR) of 44.1% from 2019 to 2025.
The salary of machine learning engineers is also very high and competitive, according to (glassdoor), The national average salary for a Machine Learning Engineer is $136,047 in the United State
In conclusion, machine learning has brought more advantages to the tech world at large.