Machine Learning has started revolutionizing the way industries perform in the recent years and in 2020, we saw few tremendous advancements in ML/AI technologies. In 2021, these advancements will be leveraged to create cutting-edge and innovative solutions that will help business thrive and succeed in the age of automation. In this blog, we are going to present the top 5 Machine Learning Trends for 2021 that will create huge impact across industries.
Increasing usage of Machine Learning
As per a research study, 77% of the devices that are in use presently utilize ML in some form or other. From virtual personal assistants like Siri, Alexa & Google to online transportation networks that estimate the price of the ride, email spam and malware filters, and social media platforms like Facebook that uses facial recognition to help recognize a friend instantly, Machine Learning has been leveraged by organizations and for day-to-day activities. The usage of ML will continue to increase in 2021.
Hyperautomation, a trend picked by Gartner refers to the possibility of automating each and every process within an organization. Being the next major phase of digital transformation, Hyperautomation can be used to automate even the legacy processes. Being one of the key components of Hyparautomation, ML helps to create automated business processes that can adapt and react to changing conditions and circumstances. With the current pandemic looking to continue into the next year, digital transformation powered by Hyperautomation seems to be the way forward for many businesses.
Intersection of ML and IoT
AI/ML and IoT need each other to flourish. ML algorithms require more data to learn, adapt and operate efficiently whereas IoT devices need to become more smart and secure. IoT devices provide the data required to train machines while integrating ML algorithms into IoT devices makes them smarter and more secure. We will continue to see the culmination of ML and IoT in many devices in 2021.
Reinforcement Learning is a technique that involves the use of deep learning algorithms that can learn from its own experiences. The machines perform on the basis of conditions set to perform a specific activity. Reinforcement Learning enables machines to find the best possible path it should take to achieve the ultimate objective.
Business Forecasting and Analysis
Whether you want to predict the trend in financial markets or forecast peak consumption in electricity during the day, time series is the best data science technique to leverage. Time Series Forecasting makes use of the best fitting model essential to predicting the future observation based on complex processing current and previous data.
Machine learning proved to be the most effective in capturing the patterns in the sequence of both structured and unstructured data and its further analysis for accurate predictions.
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