Machine learning is becoming the next big thing in the IT industry. Powering up the computer systems with the ability to self-learn using statistics and trends is already on the rise in the market. Today, almost every sector including health, finance, transport, education, business, and marketing, etc. are taking advantage of machine learning and working on establishing algorithms to speed up the process and increase productivity.

Market Potential

Among the top industries focusing on implementing machine learning, Internet of Things (IoT) is leading the pack with the market share of 11.4%. Besides Internet of Things, there are other non-computer related areas be it professional, scientific, and technical services as well as manufacturing sector which are emphasizing on machine learning to boost productivity and efficiency.

While there’s a risk on the jobs of many professionals with the evolution of machine learning concepts, the IT teams are also enjoying the fact that most of their mundane tasks are now automated, and many of the IT resources can work on further research and focus on technology innovation.

Big companies like Google, Amazon, IBM, Microsoft, HP, SAP, BigML, etc. are already working on machine learning concepts to streamline their mode of operations. Tech giants like IBM, Google, Microsoft, Facebook, LinkedIn, Intel, and Fujitsu top the list as seven highest ML patent producers in 2017. Also, ML patents made a staggering growth at 34% Compound Annual Growth Rate (CAGR) between 2013 and 2017 which is the 3rd fastest among other patent categories, showing the potential Machine learning has.

As the top global companies are already focusing on machine learning, India is not far behind. Many Indian companies including Flipkart are already working on a business model based on machine learning algorithms. According to the Machine Learning global market report 2018–2025, the future of machine learning looks promising. As per the report, the market capitalization is expected to reach $39.98 billion by 2025 with the rising adoption of cloud-based machine learning computing.

Machine Learning Vs Artificial Intelligence.

At times, machine learning is often confused with ai development solutions. Although they correlate, they are not the same. Machine learning uses statistical data to power up the computer’s ability to learn without the need for any update or manual programming. On the other hand, artificial intelligence is a much broader concept which incorporates the external environment. It simply uses machine learning as one of the aspects to develop machine intelligence.

Python for Machine Learning.

Python has gathered immense popularity as being the most favored language for machine learning. Here are a few reasons justifying the statement:

  • Flexible architecture
  • Special directories assisting in ML
  • Easy Syntax
  • Free from preliminary optimization
  • Assists in keeping the program simple

With assistance from easy languages and greater market demand, there is visible market acceptance leading to simpler technologies and more reliable software.

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