MACHINE LEARNING MARKET ANALYSIS

Market Trends

Machine learning is a branch of artificial intelligence that enables machines to learn directly from data, experience, and examples. By permitting computers to execute specific tasks smartly, machine learning allows computers to carry complex processes by learning from examples or data, rather than following pre-programmed rules. Increasing volume of data being generated across industry verticals creates an exhaustive repository for machines to learn from, something that is further backed by rapid strides made in processing power of computers, in turn enhancing the analytical capabilities of machine learning systems.    

Increasing advancements in technology leading to higher accuracy of systems fueling market growth   

People interact with various systems, which are based on machine learning such as recommender systems, voice recognition systems, and image recognition systems. Rapid advancement in technology in image recognition system has increased the accuracy of the system, which has fueled the demand for machine learning in various systems. For instance, in image labeling challenge, the accuracy of machine learning was 72% in 2010 and it reached to 96% in 2015. The ability of machines to process large volumes of data and to use the data for prediction have made the machine learning a key tool in various applications such as BFSI, healthcare etc.