As professionals in the technological field, in recent years we have witnessed the arrival of new tools that have revolutionised the ICT sector as know it. Today, concepts such as Machine Learning or Blockchain are regaining strength and media attention. However, how much do we really know?

In today’s post, we will explain what Machine Learning is in depth.

What is Machine Learning?

It is a branch of Artificial Intelligence with the role of creating programs that have the capacity to generate automatic behaviours. This means that they will try to create complex patterns through the millions of data with an account of an organisation or company. Thanks to this technology, we have the possibility of converting business data into relevant information, thus achieving a competitive advantage that is not negligible.
Some of the current applications of Machine Learning include:

  • Detecting fraud in transactions.

  • Anticipate possible failures of computing teams.

  • Discovering what is the best hour for publishing on Social Media

  • Modifying sections of a website or an app and reordering according to the needs of the user.

  • Medical diagnosis.

  • In search engines such as Google.

  • Economic Predictions.

Types of Machine Learning

In the field of Machine Learning, we can find different distinct models. We would like to highlight the following:

  • Supervised Learning. It is a model that is trained through the succession of many examples. From this information, the systems will generalise it for new cases. For example, to know if there is a koala or a dog in a picture, we prepare the model with thousands of images and specify which are koalas and which are dogs. After many examples, our model will finally be able to distinguish whether it is a koala or a dog in the image.

  • Non-supervised Learning. It’s main objective is to understand and abstractly visualise the patterns information directly. In a way, it is an automatic learning system that is similar to human behaviour. For example, how do we define different types of birds? Through empirical research we were able to determine and deduce the relevant patterns.

  • Learning by Reinforcement. This model is based on the experience itself. In this field, great research efforts are made. Today is one of the most promising techniques since they do not require a large amount of data. In short, it is a method based on trial and error in which when the correct action is carried out, it is rewarded as it should be.

How is Machine Learning influencing businesses?

Today there are thousands of companies that have begun to implement Machine Learning in their business models. In 2020, it is expected that the market for applications based on this technology will register revenues of more than 20 billion dollars. In what aspects of Marketing and Business is it most influencing?

  • In customer service. It helps us to discover patterns of behaviour of all types of users. This information is relevant because it will allow us to adapt our products and services to the needs of the potential consumer.

  • In the optimisation of customer profiles. It allows us to understand them and identify with them.  In addition, we can make a prediction of the possible future income of each of our clients of interest. Thanks to this information, we can make a more segmented adaption to the real needs of the user.

  • In the detection of new cultural trends. Thanks the Machine Learning we can identify with the current fashion trends much faster than using human intuition. However, not all processes are automatic and some will requite human talent to take on some new challenges in the field.

Can we predict what the future of Machine Learning will be? It is possible that within a few years these machines will reach major conclusions in periods of time that are much less than humans are capable of.  This fact will allow us to take a considerable leap in terms of quality of life. The rest we can say is unpredictable.