Machine Learning: Technology Of The Future
In the next decade, Machine Learning (ML) will be one of the key technology for many fields. According to Fortune Business Insights, the global Machine Learning market size is predicted to grow from $21.17 billion in 2022 to $209.91 billion by 2029. This strongly improves the importance of ML as the technology of the future. In this blog, we will explain why it gained this position and introduce 3 prominent ML projects in BHSoft.
What is Machine Learning
Machine Learning is a sub-field of Artificial Intelligence and Computer Science. It enables systems to learn and improve from experience without being explicitly programmed. ML focuses on building algorithms that can learn from data, identify patterns in data, and make predictions about future data.
Reasons why Machine Learning is the future technology
Ability to process large databases and learn
These years, big data has changed human society dramatically. In near future, big data will be a powerful tool in promoting economic development. It will change the way humans perception of the world too. However, traditional technologies seem outdated in processing huge data volumes and various data types at a fast speed. Machine Learning technology is the best answer to resolve these problems. ML techniques enable users to uncover underlying structures and make predictions from large datasets. Its models successfully extract meaningful insights from the data at high speeds and work through huge structured or unstructured data volumes. Additionally, it automates the entire process of generating, storing, retrieving, and analyzing data.
Automate business operation
The potential for machine learning in the future ranges from cutting-edge innovations to automating mundane tasks. Its algorithms are similar to robots that can work continuously every hours of everyday a year without fatigue. With technologies like MLOps and AutoML, Machine Learning contributes significantly to the automating of business processes. Organizations can focus on more specialized tasks by using ML in repetitive work such as customer service, fraud detection, network monitoring, data integration, etc.
Widespread applications
Solutions-based Machine Learning has diverse applications in a variety of aspects. This is the reason that machine learning is outpacing all other fields of technology in terms of growth.
- Healthcare: The advent of Machine Learning in data and image analysis has contributed significantly to disease prediction, drug discovery, and medical imaging diagnosis.
- Banking and Finance: Thanks to the automated processing of huge amounts of data, Machine Learning can detect unusual or suspicious activity, generate an accurate risk score for loans, and monitor transactional data with regulatory requirements.
- Retail: Predictive Machine Learning methods, in particular, employ real-time data to categorize customers based on shared traits. Therefore, it helps retail business segments identify target markets and analyze purchasing patterns, customer behavior, and social media interactions.
- IT & Telecommunications: Machine Learning uses data-driven techniques to optimize network operations and predict potential problems and trends before they start to have an impact on the business.
Machine Learning Technology in BHSoft
With the cooperation of experienced and skilled developers, BHSoft has applied Machine learning in lots of internal projects.
Image Processing & Object Detection
Lately, BHSoft has applied Machine Learning technology to image processing and object detection with some features: getting image inputted; removing noise from the image; segmenting all objects and backgrounds from the image; creating layers for each of the segmented objects and background; creating the mask.
The product is the right solution for: glasses virtual try-on; 3D object reconstruction in BIM application; and Interior redesign in one space.
Augmented Reality (AR) camera view
BHSoft has recently been developing an Augmented Reality (AR) camera view application for Android and iOS. When using the AR camera, users can take AR 3D objects from the library and then drag and drop selected objects to a position in the room view.
This application is the perfect solution for interior designers. Moreover, due to its user-friendly design and automatic features, it would be an ideal application for ordinary users who want to rearrange the furniture in their homes.
The interface of the Augmented Reality (AR) camera view app on iPhone
Automatic Chatbot
BHBot is a Virtual Assistant developed by our AI team. It is used for exchanging information as well as for developing and training personnel in the company.
The basic functions of BHBot are: to allow users to exchange information via verbal written and voice communication; to search for information about the company information (activities, rules, working processes); and to train ( training process, learning materials, orientation). Moreover, individuals can use the BHSoft chatbot as a personal assistant which supports time management, task tracking, etc.
BHSoft Chatbot is built as a model to develop other customization chatbots for companies and operations in need.
Conclusion
Machine Learning has proved its potential to become a leading technology in the future. It impellent the advancement of various important aspects namely Healthcare, Bank and Finance, Retail, and IT & Communication in the future.
BHSoft realized the power of this technology. Therefore, we have conducted deep research and developed products to utilize ML. If your organization is seeking a solution to automate the operation process or build a powerful ML application, BHSoft commits to providing you with the greatest service to match your requirements.
