Top 9 Machine Learning

Applications in Real World

1. Machine Learning Applications –
Objective
In our previous tutorial, we studied Machine Learning Introduction. Here,
we will explore Machine Learning Applications. These Applications of
Machine Learning shows the area or scope of Machine Learning.
So, let’s start Machine learning Applications.

Top 9 Machine Learning Applications in Real World

2. Machine Learning Applications

As we move forward into the digital age, One of the modern innovations
we’ve seen is the creation of Machine Learning. This incredible form of
artificial intelligence is already being used in various industries and
professions. For Example, Image and Speech Recognition, Medical
Diagnosis, Prediction, Classification, Learning Associations, Statistical
Arbitrage, Extraction, Regression. Today we’re looking at all these Machine
Learning Applications in today’s modern world.
These are the real world Machine Learning Applications, let’s see them one
by one-

2.1. Image Recognition

It is one of the most common machine learning applications. There are many
situations where you can classify the object as a digital image. For digital
images, the measurements describe the outputs of each pixel in the image.

In the case of a black and white image, the intensity of each pixel serves as
one measurement. So if a black and white image has N*N pixels, the total
number of pixels and hence measurement is N2.
Let’s discuss ANN in Machine Learning
In the coloured image, each pixel considered as providing 3 measurements
of the intensities of 3 main colour components ie RGB. So N*N coloured
image there are 3 N2 measurements.
• For face detection – The categories might be face versus no face present.
There might be a separate category for each person in a database of
several individuals.
• For character recognition – We can segment a piece of writing into
smaller images, each containing a single character. The categories might
consist of the 26 letters of the English alphabet, the 10 digits, and some
special characters.
2.2. Speech Recognition
Speech recognition (SR) is the translation of spoken words into text. It is
also known as “automatic speech recognition” (ASR), “computer speech
recognition”, or “speech to text” (STT).
In speech recognition, a software application recognizes spoken words. The
measurements in this Machine Learning application might be a set of
numbers that represent the speech signal. We can segment the signal into
portions that contain distinct words or phonemes. In each segment, we can
represent the speech signal by the intensities or energy in different time-
frequency bands.

Although the details of signal representation are outside the scope of this
program, we can represent the signal by a set of real values.
Do you know about Artificial Neural Network Model
Speech recognition, Machine Learning applications include voice user
interfaces. Voice user interfaces are such as voice dialing, call routing,
domotic appliance control. It can also use as simple data entry, preparation
of structured documents, speech-to-text processing, and plane.

2.3. Medical Diagnosis

ML provides methods, techniques, and tools that can help in solving
diagnostic and prognostic problems in a variety of medical domains. It is
being used for the analysis of the importance of clinical parameters and of
their combinations for prognosis, e.g. prediction of disease progression, for
the extraction of medical knowledge for outcomes research, for therapy
planning and support, and for overall patient management. ML is also being
used for data analysis, such as detection of regularities in the data by
appropriately dealing with imperfect data, interpretation of continuous data
used in the Intensive Care Unit, and for intelligent alarming resulting in
effective and efficient monitoring.
It is argued that the successful implementation of ML methods can help the
integration of computer-based systems in the healthcare environment
providing opportunities to facilitate and enhance the work of medical experts
and ultimately to improve the efficiency and quality of medical care.

Let’s take a tour of Neural Network Algorithms

In medical diagnosis, the main interest is in establishing the existence of a
disease followed by its accurate identification. There is a separate category
for each disease under consideration and one category for cases where no
disease is present. Here, machine learning improves the accuracy of medical
diagnosis by analyzing data of patients.

The measurements in this Machine Learning applications are typically the

results of certain medical tests (example blood pressure, temperature and
various blood tests) or medical diagnostics (such as medical images),
presence/absence/intensity of various symptoms and basic physical
information about the patient(age, sex, weight etc). On the basis of the
results of these measurements, the doctors narrow down on the disease
inflicting the patient.
2.4. Statistical Arbitrage
In finance, statistical arbitrage refers to automated trading strategies that are
typical of a short-term and involve a large number of securities. In such
strategies, the user tries to implement a trading algorithm for a set of
securities on the basis of quantities such as historical correlations and
general economic variables. These measurements can be cast as a
classification or estimation problem. The basic assumption is that prices will
move towards a historical average.

Do you know about Kernel Functions

We apply machine learning methods to obtain an index arbitrage strategy.
In particular, we employ linear regression and support vector regression
(SVR) onto the prices of an exchange-traded fund and a stream of stocks. By
using principal component analysis (PCA) in reducing the dimension of
feature space, we observe the benefit and note the issues in the application
of SVR. To generate trading signals, we model the residuals from the
previous regression as a mean reverting process.
In the case of classification, the categories might be sold, buy or do nothing
for each security. I the case of estimation one might try to predict the
expected return of each security over a future time horizon. In this case, one
typically needs to use the estimates of the expected return to make a trading
decision(buy, sell, etc.)

2.5. Learning Associations

Learning association is the process of developing insights into various
associations between products. A good example is how seemingly unrelated
products may reveal an association to one another. When analyzed in
relation to buying behaviors of customers.

Let’s discuss Deep learning and Neural Networks in Machine Learning

One application of machine learning- Often studying the association between
the products people buy, which is also known as basket analysis. If a buyer
buys ‘X’, would he or she force to buy ‘Y’ because of a relationship that can
identify between them? This leads to the relationship that exists between
fish and chips etc. when new products launch in the market a Knowing these
relationships it develops a new relationship. Knowing these relationships
could help in suggesting the associated product to the customer. For a higher
likelihood of the customer buying it, It can also help in bundling products for
a better package.

This learning of associations between products by a machine is learning

associations. Once we found an association by examining a large amount of
sales data, Big Data analysts. It can develop a rule to derive a probability test
in learning a conditional probability.
2.6. Classification
Classification is a process of placing each individual from the population
under study in many classes. This is identified as independent variables.
Have a look at Convolutional Neural Networks Architecture
Classification helps analysts to use measurements of an object to identify the
category to which that object belongs. To establish an efficient rule, analysts
use data. Data consists of many examples of objects with their correct
classification.

For example, before a bank decides to disburse a loan, it assesses customers

on their ability to repay the loan. By considering factors such as customer’s
earning, age, savings and financial history we can do it. This information is
taken from the past data of the loan. Hence, Seeker uses to create a
relationship between customer attributes and related risks.

2.7. Prediction
Consider the example of a bank computing the probability of any of loan
applicants faulting the loan repayment. To compute the probability of the
fault, the system will first need to classify the available data in certain groups.
It is described by a set of rules prescribed by the analysts.

Let’s revise Recurrent Neural Networks

Once we do the classification, as per need we can compute the probability.
These probability computations can compute across all sectors for varied
purposes
The current prediction is one of the hottest machine learning algorithms.
Let’s take an example of retail, earlier we were able to get insights like sales
report last month / year / 5-years / Diwali / Christmas. These type of
reporting is called as historical reporting. But currently business is more
interested in finding out what will be my sales next month / year / Diwali,
etc.
So that business can take a required decision (related to procurement, stocks,
etc.) on time.

2.8. Extraction
Information Extraction (IE) is another application of machine learning. It is
the process of extracting structured information from unstructured data. For
example web pages, articles, blogs, business reports, and e-mails. The
relational database maintains the output produced by the information
extraction.
The process of extraction takes input as a set of documents and produces a
structured data. This output is in a summarized form such as an excel sheet
and table in a relational database.

Nowadays extraction is becoming a key in the big data industry.

As we know that the huge volume of data is getting generated out of which
most of the data is unstructured. The first key challenge is handling
unstructured data. Now conversion of unstructured data to structured form
based on some pattern so that the same can stored in RDBMS.
Apart from this in current days data collection mechanism is also getting
change. Earlier we collected data in batches like End-of-Day (EOD), but now
business wants the data as soon as it is getting generated, i.e. in real time.

2.9. Regression
We can apply Machine learning to regression as well.

Assume that x= x1, x2, x3, … xn are the input variables and y is the outcome
variable. In this case, we can use machine learning technology to produce the
output (y) on the basis of the input variables (x). You can use a model to
express the relationship between various parameters as below:
Have a look at Advantages and Disadvantages of Machine Learning
Y=g(x) where g is a function that depends on specific characteristics of the
model.
In regression, we can use the principle of machine learning to optimize the
parameters. To cut the approximation error and calculate the closest possible
outcome.
We can also use Machine learning for function optimization. We can choose
to alter the inputs to get a better model. This gives a new and improved model
to work with. This is known as response surface design.

So, this was all about Machine Learning Applications. Hope you like our
explanation.

3. Conclusion
In conclusion, Machine learning is an incredible breakthrough in the field of
artificial intelligence. While it does have some frightening implications when
you think about it, these Machine Learning Applications are several of the
many ways this technology can improve our lives.

If you found any other Machine Learning applications, So, please let us know
in the comments!