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Machine Learning in Industry


Date:2018-04-06


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There have been huge strides in industrial automation innovation, among which Machine-to-Machine communication (M2M), Industrial Internet of Things (IIoT), Machine Learning, Neural Networks and Deep Learning are topping the list. As the data communication technology evolves, the pathway for technologies like machine learning becomes open. From predictive cookers to self-driving cars, machine learning is everywhere. Literally, anything that comes integrated with Smart AI technology is equipped with machine learning algorithms to enable the device to adapt better to human commands and act accordingly.

Industries are changing for the better as well. A lot of the manufacturing companies have swapped their manual production lines with IIoT smart factory equipment. With the equipment being able to communicate between each other in the cloud, factories are capable of producing in higher numbers and quality. 

How is Machine Learning different from Artificial Intelligence?

Often times, Machine Learning and Artificial Intelligence are wrongfully used interchangeably. In reality however, machine learning is just one specific type of artificial intelligence. In machine learning, a machine gets to learn human behaviors through neural networks and deep learning. Sensors in a machine act like the nervous system in the human brain, and the sensor data is analyzed through the big data analytics. All this sensor data is then compared and rewritten almost every time the device performs the same action, this is how the neural network improves and so does the machine learning process. A programmer will not have to intervene and work on feeding the data into the machine manually, instead, the machine would know which data to keep and which to omit by actually learning through the processes.

Artificial intelligence is similar, except it uses algorithms, whereas machine learning is a process that uses AI to take things one step further.

Industries where Machine Learning is making an Impact

There is a wide variety of industries that could benefit from machine learning. Machine Learning can be used in many different ways, but ultimately, the goal is to enhance a specific industry’s workflow and make it more self sustaining and efficient. Below is a list of multiple industries that have been adopting machine learning and seeing amazing results from it –

Transportation

Around the world, smart cars are gaining their fair share of the market. Electronic vehicles like Tesla already have effective autopilot systems. Despite them being in a fairly primitive phase, their very existence in this era is a wonderful thing! Vehicles are no longer a wonder of mechanical science, rather their computing capability is now making transportation a perfect candidate for the driverless smart transport system. Google’s self-driven cars wander around many cities in the world to enhance their Street View system, and ride-sharing companies like Uber and Lyft are on an active rollout of self-driven cars. Apart from smaller personal vehicles, companies have started eyeing the semi truck industry as well. The machine learning feedback from all these vehicles is contributing to further possibilities of a fully automated transportation system.

Education

Classrooms in 2018 are equipped with computers, screens, tablets, and other relevant devices, and most of them are internet-connected as well. With machine learning, students could automate their note-taking process and teachers will be able to explain difficult topics in an easier manner. When machine learning is able to reduce the strain on both the teacher, and the students, the educators are able to spend more time working individually with students instead of using a “one size fits all” style teaching method.

Next Generation Finance, and Cryptocurrency

Cryptocurrency is an unconventional financial method - mostly disowned by many state-owned banks across the world, still, an accepted and used method of making payments. In blockchain and the cryptocurrency system, the government does not have any regulation or control over how transactions are being made, which has lead to some legal barriers and issues, however, cryptocurrency has taken the world by storm. Cryptocurrency mining takes place in regular computers typically, and machine learning enhances the algorithm every moment for better mining techniques. These algorithms allow cryptocurrency systems to grab a hold of the current monetary and currency conversion values, mining statuses from all over the world, a projection of cryptocurrency value based on past transactions, and risk assessment. When cryptocurrency finally becomes a mainstream financial method, the transfer of funds will be made quicker, easier, and more efficient.

Medical and Healthcare

The medical and healthcare industry is a sweet spot for the internet of things, machine learning and robotics. Mechanical arms have been used in healthcare for awhile now, especially for critical operations where humans could have trouble reaching but machines would not. For example, operating arms in an operation setting might observe the surgeon’s movement and take them as input data for machine learning and improve the operation procedure over time. In the healthcare sector, machines have to be very precise and perfect. As machine learning and AI algorithms become more advanced, the precision of these robots will increase, opening up the possibility of completely automated surgeries.

Supply Chain and Marketing

Many businesses around the world are now using machine learning as an efficient supply chain improvement tool. The information synchronization between the marketing team and the production team can now be in perfect harmony through machine learning and IoT integration. Using machine learning, businesses will have the leverage to automatically keep track of production data and market status and if any modifications are necessary, proper authorities will be informed. MIT has conducted a survey on machine learning integration among 168 large corporations, and 76% of them were found to have machine learning technologies already up and running.

Wrap Up

Machine learning has the potentials to unleash unimaginable benefits for any type of business. The revolution has just begun and the best is yet to come in the industries we have mentioned, but they are just the early adopters. Other industry will definitely find ways to utilize machine learning to simplify many different aspects of their business, as the technology advances.

Author - Greg Conrad, writer for Ax Control

Source : www.axcontrol.com