Well, to put it simply, machine learning is an extensively algorithm-driven study, which makes computer/device/software capable of learning on the basis of their own previous experience and improve the performance of a task. It also gives machines/software the ability to analyze, predict, and sort through huge amounts of data. You type a keyword on google and the next thing you know is that you are getting an advertisement by Amazon trying to sell you the same product that you just searched on google out of curiosity.

“People worry that computers will get too smart and take over the world, but the real problem is that they're too stupid and they've already taken over the world.” ― Pedro Domingos

How Machine Learning and Artificial Intelligence are Related

Artificial Intelligence is the key innovation to Machine Learning that uses statistical techniques to give computers/machines the ability to think, analyze, and respond to situations just like human beings and animals do by using natural intelligence (NI)

This is Machine Learning and Artificial Intelligence at their simplest. It can do much more, like improving the way we live and change the way we do business for good. It can also improve healthcare facilities.

How Machine Learning and AI Affect the Way We Live

Well, smart and IoT integrated homes are the best part of machine learning. While we already have home assistants such as Amazon Echo and Google Assistant that can recognize our voice and respond to our voice commands, we can see IoT integrated houses.

Impressive advancements have been made in mind-reading technology. We would be able to control appliances around the house by just merely thinking.

Software will keep track of our daily schedule and would do menial work for us like booking a cab, turning on the coffee maker in the morning, or turning on the air conditioner before we arrive home.

Machine Learning Would Change the Way We Do Business

With the newly added ability to the computers of analyzing data based on some logic, businesses could predict the upcoming events like growth, market value, and employee productivity.

It would also save companies a lot of money due to reduced human errors as machines are not prone to make the same errors that humans make.

Machine Learning Would Change the Way We Do Health Services

ML algorithms have been proven to be of use in detecting and diagnosing cancer. An early detection of Melanoma would increase the survival rate.

The major breakthrough is in the field of drug discovery; scientists can now stimulate the drug interaction in the body with ML algorithms.

This will lead to less time spent on human and animal trials and speedy discovery of new medicine.

Machine Learning Would Change the Way We Do Education

ML, if applied in education, can drastically change the education scene. The algorithms can be used to track and predict students' performance, state of mind, and much more. This would help to build a more integrated and wholesome curriculum in schools and colleges. There is no doubt it would change the way we teach, with computers able to understand and interact with students just like a teacher does. This is even better; this computer will be equipped to learn to understand more and more queries by students as the time passes, just like a professional teacher does.

What Does Industry Say About Machine Learning?

Machine Learning has undoubtedly become the most sought-after skill in the 21st century. All the tech giants such as Facebook, Microsoft, Google, Apple, NASA, ISRO, Huawei, LG, and Amazon invest heavily in R&D.

Projects of ML, even the small and common applications like keyboards, cameras, and daily planners are starting to embed concepts of Machine Learning and AI to enhance the overall experience of the user interface. This industry is expected to grow to a whopping 25 billion dollar mark by 2025 with a current growth rate of 23%. ML, as of now, is one of the highest paying skills. It's pretty obvious that the trend would remain the same in the future as well.