10/10/2019

Machine Learning Applications {Types, Definition, and Examples}

Machine learning is basically a piece of Artificial Intelligence (AI) technology or we can say that Machine Learning is a subset of Artificial Intelligence. We are going to discuss the types of Machine Learning Applications and machine learning definition. If you’re a machine learning enthusiast who wants to learn about its latest developments, you’ve come to the right place.

Machine Learning Definition


According to Wikipedia: Machine learning(machine learning definition) is the scientific study of algorithms and statistical models that computer systems use to perform a specific task without using explicit instructions, relying on patterns and inference instead.

Machine Learning(or ML for short) is basically designed to make computers learn & perform operations without any human intervention.

To put it simply, whenever a machine learning application is exposed to new data, the application automatically identifies, analyzes, and executes operations by themselves and returns an expected output.

Now, if you’re wondering how is it possible, then it’s simply because of pattern recognition algorithms.

A pattern recognition algorithm is basically the process of recognizing patterns, and it’s what powers the machine learning definition and applications.

Talking about machine learning applications, there are mainly three types of machine learning.

Types of Machine Learning


Machine learning types can be categorized as below. There are 3 types of machine learning. 

Types of Machine Learning
  1. Supervised
  2. Unsupervised
  3. Reinforcement

Supervised ML


Supervised Machine learning app development is sort of the most popular machine learning type. In fact, it’s also the simplest to understand and easiest to implement.

For instance, supervised machine learning is similar to teaching a kid using flashcards.
Supervised Machine Learning

Just like flashcards, data are provided with labels to a supervised machine learning app, which then allows the pattern recognition algorithm to predict the label and train itself over time.

Once the supervised ML app is fully-trained, it then becomes capable of identifying new & never-seen-before examples.

Here’s an example that illustrates this perfectly

Machine Learning Applications


Unsupervised ML


Unsupervised machine learning, as you might have guessed it, is the complete opposite of the machine learning type: supervised.

Data are fed without any labels to the unsupervised machine learning app along with advanced tools & algorithms to understand the properties of data by itself.

Unsupervised Machine Learning


Once the application starts recognizing a pattern, it automatically starts making sense and organizes the data by itself.

Now, since the vast majority of data in our world is unlabeled, there is huge potential for profit for machine learning app development.

Reinforcement ML


Reinforcement machine learning is all about an application learning from its own mistakes.

In simple words, if you build a reinforcement machine learning application, it will make a lot of mistakes in the beginning. But, if you provide signals to teach the algorithm about good and bad behaviours, the app will automatically learn to stick with good behaviours over the bad ones.

Furthermore, as the app matures, it will learn to make fewer mistakes over time.

So, now that you’ve learned the three different types of machine learning, let’s also take a look at some real-life examples of machine learning apps.

Machine Learning Application Examples


In case you didn’t know, there has been a dramatic spike of interest in machine learning app development.

Currently, the emerging technology has been used in multiple industries and for different platforms including ML for mobile app.

That being said, let’s look at the top machine learning application examples to know in detail.

Machine Learning Applications in Healthcare


The healthcare industry has always been one of the leading proponents of innovative technologies and machine learning is no exception.

Today, people demand smart healthcare services to not only lead better lives but to also prolong their lifespan.

And as far as Machine learning(or Part of Artificial Intelligence) in the healthcare sector is concerned, ML has played a pivotal role by improving the delivery system of healthcare services, to developing new treatment procedures and cutting down costs.

Moreover, since the healthcare data is increasing heavily by the second, there are endless possibilities for building cutting-edge healthcare apps with machine learning.

ML Applications in Finance


Machine learning applications in the finance industry have picked up quite the pace in the past recent years.

For instance, there are many finance services institutions and leading banks that have deployed Machine learning technology to streamline processes, decrease risks, and optimize portfolios for the better.

In fact, machine learning technology has become an integral part of the financial ecosystem with so many different applications such as ML-based portfolio management, fraud detection, money-laundering prevention, and so on.

As a result, today the machine learning applications have made significant advancements in the finance sector.

ML Applications in Business


Machine learning technology is also capable of enhancing almost every part of a business, from marketing to maintenance and everything in between.

For example, machine learning in a manufacturing business can help to forecast equipment breakdowns before it occurs so that the timely maintenance can be scheduled beforehand.

Apart from this, machine learning and marketing also go quite hand-in-hand today.

For instance, anticipating customer behaviour is the key to optimizing marketing campaigns, and machine learning can not only help to improve personalization but also learn from past customer behaviours to create more revenue streams.

As a result, the machine learning app development approach is heavily implemented by all sorts of businesses today.

Bottom Line


As you can see, machine learning is quite a different technology in its own way. Though many concerns have been raised by experts around the world, if we look at the positive side, machine learning can do wonders for all industries around the world.

There is no doubt that machine learning has changed the way how we do so many things in life today.

That being said, if you’re interested in building your own machine learning app, it’s recommended to consult with a mobile app development company to discover different opportunities.

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