At TechDogs, we have an annual tradition of gathering together to watch the Academy Awards, enjoying popcorn, and making our predictions for each category. While we may not always be spot-on with our predictions, it's always a great time! However, wouldn't it be truly exciting if we could accurately forecast the award winners before the ceremony, just for the sake of some friendly boasting?
Interestingly, there's a Machine Learning model that has been accomplishing exactly that. Unanimous AI, an American tech company, has been making predictions for the winners in each category with an impressive 94 percent accuracy! In the previous year, this model correctly predicted the winner in 15 out of 16 categories. It's a remarkable demonstration of the potential of Machine Learning (ML)!
We encounter Machine Learning (ML) in our daily lives, often without even realizing it. If you use a voice assistant on your smartphone, rely on online translation services, or manage your finances through online banking, you are already benefiting from ML. While it may not always be obvious, ML has ignited a digital revolution. According to Forbes, Amazon's current ML algorithm has significantly reduced the 'click-to-ship' time by 225%. Similarly, Netflix saved over $1 billion in 2017 by implementing its new ML algorithm.
In Part 2 of our Machine Learning series, we will explore other facets of ML, including its commercial applications, its future prospects, and why this technology may pose challenges for humanity. If you haven't already read Part 1, we encourage you to give it a go; it remains as relevant as ever.
If you've already read it, let's dive right in! Click here to read more!
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