Add your business to ZipLeaf for free!
 United States Business Directory
MACHINE LEARNING IN 2022: A GUIDE FOR BUSINESSES

By Orion eSolutions

MACHINE LEARNING IN 2022: A GUIDE FOR BUSINESSES

05/04/2022 Artificial Intelligence has become a common term in the world of computing and has percolated into all areas of business and day-to-day life. The wonder here is how a computer can understand and respond logically. This is what defines Machine Learning.
Machine Learning is the technology that focuses on making smart machines where they can be more independent and human-like and are capable of self–learning. It is based on other interdependent technologies like Artificial Intelligence and Data Science.
This blog attempts to throw insights into the requirements of ML in today’s world and the skill sets and qualifications required to become a Machine Learning Engineer.

  • Market Growth: The value of the global machine learning market is forecasted to touch USD 117 billion by 2027.
  • Market Adoption-
  • ML investments by companies are growing most often by 25% with the banking, manufacturing, and IT industries allocating large budgets.
  • 20% of C-level executives (across ten countries and 14 different industries) stated that ML is a core part of their business.
(GlobeNewswire, Algoorithmia, Mckinsey, research.aimultiple.)

Why is Machine Learning Important? ML today has gone beyond being just a hyped-up term. Its ability to think like a human and its application in a variety of business verticals has tremendous potential to revolutionise lives and livelihoods. ML technology has limitless applicability and can be implemented in every sector like education, health, cybersecurity, Industry 4.0, retail, etc.
The world is seeing rapid and complex technological advancements and will require complex and skillful solutions. ML engineers will build these systems and the demand for machine learning engineers will increase exponentially.

Surveyed Data Scientists and C-level executives state that the top drivers of ML adoption are due to
  • Access to better quality information (60%)
  • Better value from data (31%)
  • Boosting Business Processes Productivity and Speed (48%)
  • Reduced costs (46%)
  • 65% of companies planning to adopt machine learning say it’s to help them with decision-making.
Results/ Benefits
  • Businesses who have implemented machine learning models report increased revenues, costs reductions or operational efficiency.
  • Google’s Deep Learning machine learning program has a high accuracy rate of 89% in detecting breast cancer.
  • Google translates accuracy increased from 55% to 85% with an ML algorithm.
  • Azure Machine Learning framework can accurately forecast stock market highs and lows by 62%
(Refinitiv, MemSQL, Microsoft, Google, Research.aimultiple.)

Who is a Machine Learning Engineer? A master’s degree in computer science, mathematics, or a relevant field is a prerequisite. A Machine Learning Engineer will definitely see some overlapping areas with a Data Scientist or a Data Analyst. However the focus areas are different. Data Scientists and Analysts mainly prioritize extracting insights from the data to make better business decisions due to which they should know ML algorithms. Machine Learning Engineers focus exclusively on building ML software.
Machine Learning Specialist or engineer is a worldwide in-demand job today with excellent career prospects. From the big companies like Microsoft, Google, Amazon, Apple to even start-ups and established IT services, like Orion seek ML engineers.
Roles and Careers The tiles for an ML Engineer can vary from Data Scientist, ML/MLOps Engineer Analyst, ML Researcher, Data & Analytics Consultant, etc.
Major job responsibilities of a Machine Learning Engineer include:
  • Designing and building ML and deep learning systems
  • Conducting machine learning tests and experiments
  • Executing appropriate ML algorithms
  • Study data science prototypes
  • Work on datasets and data representation methods
  • Extend current ML libraries and frameworks
Let's assess some of the domain-specific knowledge and skills needed to become a Machine Learning Engineer.
  • Computer Science and Programming Languages
Machine Learning engineers need to be conversant with CS concepts like data structures, algorithms, space and time complexity, etc. A good knowledge of programming languages like Python and R, Spark and Hadoop , SQL for database management, Apache Kafka for data pre-processing, etc. is very important.
  • Machine Learning Algorithms
Obviously, an ML Engineer should have a sound knowledge of all the common machine learning algorithms such as Support Vector Machine, Apriori Algorithm, Decision Trees, Naïve Bayes Classifier, K Means Clustering, Linear Regression, Logistic Regression, Random Forests, etc.
  • Applied Mathematics
Maths finds various applications in ML. Mathematical formulas are used in selecting the correct ML algorithm and parameters etc. ML algorithms are derived from statistical modeling procedures and hence it’s an advantage to have a strong foundation in Maths.
  • Natural Language Processing
NLP aims to train computers in the complexities of the human language so that machines can better understand human communication. NLP libraries have various functions to instruct computers to understand natural language. The Natural Language Toolkit is the most popular platform for NLP applications.
  • Data Modeling and Evaluation
A Machine Learning engineer should be proficient in data modeling and evaluation to understand the data and establish patterns.
  • Neural Networks
Neural Networks are based on the functioning of the human brain neurons. They comprise several layers like an input layer to receive data, which is then processed through multiple layers that transform it into valuable data suitable for output. These require a mastery of parallel and sequential computations. There are several neural networks like Feedforward Neural Network, Recurrent Neural Network, Modular Neural Network, etc and an ML engineer must know the core fundamentals of them.

How should companies hire an ML Specialist? Companies need to weigh in their requirements carefully as hiring an ML expert. Hiring a machine learning engineer requires a sound understanding of technology and job understanding. Companies can hire a machine learning engineer or outsource from a specialised AI company like Orion.
Availing the services through a specialised company will provide access to a vast talent pool, give fast solutions and be more economical.
At Orion, we are reputed for value-driven services, an expert team of professionals, and a customer-centric approach to provide end-to-end ML Services. We can help you with advanced ML solutions that enable you to analyse complex data more effectively so you can tap into the potential of your data to become more competitive.
Source link: https://orionesolutions.com/machine-learning-in-2022-a-guide-for-businesses/


About This Author

Orion eSolutions

Orion eSolutions

Top tech talents, on demand. Orion eSolutions is a catalyst to digital transformation. We are technology aficionados'. We appreciate AI and data. We understand cloud. We take pride in our innovations in connectivity, software, platforms, and digital engineering. We help businesses connect, scale, an…

Read More »

More Articles From This Author

The Ultimate Guide to Website Designs Built for Accounting Firms

The Ultimate Guide to Website Designs Built for Accounting Firms

08/08/2022 Just like any other business, accountants need to grow their client base to stay competitive and relevant. Whether you’re a one man show or part of an accounting firm, this is a fact. What’s more is that no freelancer or firm can shy away from a digital presence today. Websites are the fi... Read More »

CUSTOM WEB AND MOBILE APP DEVELOPMENT – WHY DOES YOUR BUSINESS NEED IT?

CUSTOM WEB AND MOBILE APP DEVELOPMENT – WHY DOES YOUR BUSINESS NEED IT?

08/01/2022 Digital Presence is the life breath for businesses today. As a matter of fact, most purchases happen only after online searches even if customers make an in-store purchase. Statistics show that 69% of internet users will definitely make an online search before a purchase.Users spend 2 hours da... Read More »

THE TOP 6 CUSTOMER MANAGEMENT TOOLS OR CRM FOR 2022

THE TOP 6 CUSTOMER MANAGEMENT TOOLS OR CRM FOR 2022

07/25/2022 The world has changed. Customers’ requirements have also changed. In respect of the present business landscape, the significance of clear communication is an uprising. Businesses have understood that poor communication will bring limited revenue growth. Since social media platforms have rep... Read More »

EXCELLENT QA TESTING TOOLS YOU SHOULD KNOW IN 2022

07/06/2022 Establishing a test plan that will assist you both during development and afterward is critical. It verifies that the software is operating according to the created specifications and designs. You may be surprised to know that the software testing market has a worth of $40 Billion, and it wil... Read More »

Top 5 Server Management Software Tools 2022

Top 5 Server Management Software Tools 2022

06/01/2022 A server is a computer that aids in storing, transmitting, and reception of data. In a nutshell, it fulfills the function of providing services. Servers can be anything from computers to software programs to storage devices. Servers are incredibly sophisticated machines. It necessitates cold... Read More »

HOW TO HIRE TOP DEVOPS ENGINEERS IN TORONTO

HOW TO HIRE TOP DEVOPS ENGINEERS IN TORONTO

05/10/2022 According to the report by Markets and Markets, the DevOps market size was USD 2.90 Billion in 2017.It is expected to scale up to USD 10.31 Billion by 2023, at a CAGR of 24.7% during the forecast period. A coalescence of development (Dev) and operations (Ops) is DevOps. If you are hiring DevOps eng... Read More »

TRUSTED YII DEVELOPMENT COMPANY INDIA

TRUSTED YII DEVELOPMENT COMPANY INDIA

04/18/2022 Yii is a PHP component-based framework for building large-scale online applications. This framework can help you construct a web app much faster. It’s primarily used to create web 2.0 applications. Yii is a fast, safe, and efficient framework with many features. Our developers benefit from... Read More »

IMPORTANT TIPS TO HIRE PHP DEVELOPER

04/04/2022 PHP earlier stood for Personal Home Page but now is widely thought of as Hypertext Pre-processor. PHP is one of the most trending and highly used programming languages. It has been used for a while and still ranks high on performance and scalability. Businesses seeking responsive and dynamic... Read More »

TOP 7 BENEFITS OF MANAGED IT SERVICES

03/24/2022 Technological advancements are rapid and are changing the way businesses operate. Establishing and growing a successful business requires the best technical support services. Technology dependency is increasing in the current business landscape as even small and medium enterprises need suppo... Read More »

IS HIRING MERN STACK DEVELOPERS MORE ECONOMICAL

IS HIRING MERN STACK DEVELOPERS MORE ECONOMICAL

03/17/2022 A tech stack is a collection of programming languages, software tools, and development frameworks needed to create any software product, such as a website, computer software, a game, or a mobile application. However, there are a variety of tech stacks available, but we’ll focus on the MERN St... Read More »

HOW TO HIRE APP DEVELOPERS IN 2022

HOW TO HIRE APP DEVELOPERS IN 2022

03/14/2022 According to Statista, the global market size of mobile apps was over USD 318 billion in 2020.It even mentions the expected growth by 2023 to be USD 526 billion.Statista’s report says that apps are expected to generate more than USD 613 billion in revenue by 2025. Over the last decade, app develo... Read More »

HOW TO HIRE AN IOS DEVELOPER: A DETAILED GUIDE

HOW TO HIRE AN IOS DEVELOPER: A DETAILED GUIDE

03/07/2022 In the first quarter of 2021, Apple delivered more than 55.2 million iPhones. That’s a 50.4 percent raise over the previous year.In 2021, Apple made $365 billion in revenue, with iPhone sales accounting for 52 percent of that total.With a market share of 29.24 percent, iOS is the second most popul... Read More »

DIGITAL TRANSFORMATION SERVICES

DIGITAL TRANSFORMATION SERVICES

03/03/2022 Every era sees innovations and technologies in the business operation ecosystem. The rapid pace of technology adoption and customer experiences is driving all organisations, small and big, to be more intuitive, customer-oriented and agile- in short, more digitized. Integrating technology int... Read More »

A DETAILED ROADMAP TO BECOMING A DEVOPS ENGINEER

A DETAILED ROADMAP TO BECOMING A DEVOPS ENGINEER

03/02/2022 The fusion of product development and seamless operational management, named DevOps, has been around for quite some time. Since DevOps came into existence, its determination has been strong enough to become the heartthrob of the IT world. Global Market Insights, The future of DevOps is very promis... Read More »

HOW TO CHOOSE THE BEST SHOPWARE DEVELOPERS?

HOW TO CHOOSE THE BEST SHOPWARE DEVELOPERS?

02/28/2022 Recent news from the house of Shopware shows that the German company has made $20 billion in 2021.Additionally, Shopware has made a $100illion profit from the global investment firm Carlyle and global payment firm PayPal. Shopware dazzles among the e-commerce platform crowd by standing on the pil... Read More »

TRENDING WEB APP DEVELOPMENT DRIFTS FOR 2022 AND BEYOND

02/22/2022 Web development is rapidly transforming with newer technologies and applications. These are offering innovative experiences and high engagements with users.9 billion Websites exist currently. (Internet Live Stats)59 % or 4.66 billion people are online and actively using the internet to connect, sear... Read More »

MOBILE APP DEPLOYMENT WITH AZURE DEVOPS

02/17/2022 According to Grand View Research, the global cloud computing market size is expected to scale to USD 1,251.09 billion by 2028, with a CAGR of 19.1%. Cloud computing is the future! Microsoft Azure is one of the big companies contributing to this canvas. It is used by 95% of Fortune 500 comp... Read More »

REASONS TO CHOOSE MEAN STACK DEVELOPERS TO BUILD APPS

REASONS TO CHOOSE MEAN STACK DEVELOPERS TO BUILD APPS

02/15/2022 As per Statista, 23.82% of mobile and web developers use Express. JS, while 22.96% of developers prefer Angular. JS. Additionally, Javascript is the most popular programming language around the world. Statista has declared that almost 69% of software developers have used Javascript for their produ... Read More »

THE RISING DEMAND AND THE BENEFITS OF ON-DEMAND APP DEVELOPMENT

THE RISING DEMAND AND THE BENEFITS OF ON-DEMAND APP DEVELOPMENT

02/09/2022 On-demand apps are a new business model that relies on being the mediator between consumers and providers. Its significance lies in timeliness. Its success lies in functionality. And its relevance lies in the highly competitive market that we all are a part of. Service sectors ranging from... Read More »

ENRICHING UX THROUGH WEBSITE REDESIGN – 4 TIPS

ENRICHING UX THROUGH WEBSITE REDESIGN – 4 TIPS

01/31/2022 UX design is like city planning. No one takes notice when it is done right. But one mishap, and it spoils everything else. When the user experience is successful, you can’t even tell there is a user experience. It simplifies navigation and the intuitiveness simply delights. In a nutshell,... Read More »

BEST MOBILE APP DEVELOPMENT TOOLS IN 2022

BEST MOBILE APP DEVELOPMENT TOOLS IN 2022

01/17/2022 On the Apple App Store, there are over 1.96 Million apps. The number on its counterpart, Google Play Store is 2.87 Million. The app development market is venturing into wider horizons and a mobile presence is considered crucial for survival in this dynamic market place. In 2019, the mobile ap... Read More »

5 STEPS TO HIRE THE APP DEVELOPMENT COMPANY

5 STEPS TO HIRE THE APP DEVELOPMENT COMPANY

01/06/2022 Hiring the best app development firm is crucial for the success of your digital presence. The company must be in adherence with the latest tools and trends of development. They should also understand the core requirements and the brand voice to land upon the perfect design, features, and fun... Read More »

Integrating DevOps and Mobile App Development – The Advantages

Integrating DevOps and Mobile App Development – The Advantages

12/23/2021 DevOps is an approach to IT development that integrates the functioning of the Development and Operational teams. This ensures smoother work flow, better time management, and ultimately results in faster development and a streamlined process. Additionally, security can be married with this a... Read More »

TOP 4 WEB DEVELOPMENT TRENDS EVERY CTO SHOULD ACKNOWLEDGE IN 2021

TOP 4 WEB DEVELOPMENT TRENDS EVERY CTO SHOULD ACKNOWLEDGE IN 2021

12/13/2021 The web development landscape is as dynamic as ever. With technological advancements redefining it at a breakneck pace, there are some trends that no one should ignore in 2021. Especially the CTOs. In today’s discussion, we will be covering 4 of the top trends to hit the web development real... Read More »

TOP FRAMEWORKS USED BY THE BEST MOBILE APP DEVELOPMENT COMPANIES

TOP FRAMEWORKS USED BY THE BEST MOBILE APP DEVELOPMENT COMPANIES

11/30/2021 A mobile presence is a crucial factor for survival in today’s marketplace. Brands, both big and otherwise, are investing massively for this. In depth research, strategies, planning, and environmental analysis are happening on a major scale to appropriately fashion a mobile app. According t... Read More »

MAGENTO ECOMMERCE – TOP 10 PITFALLS TO WATCH OUT FOR

MAGENTO ECOMMERCE – TOP 10 PITFALLS TO WATCH OUT FOR

11/17/2021 Having an online store set up dishes out multiple advantages. From being able to provide a faster and smoother buying experience to crafting better and faster responses to market demands. When it comes to development platforms, the major players are Shopify, Magento, WooCommerce, Volusion, and... Read More »

DIGITAL TRANSFORMATION CONSULTING – THE MOST EFFICIENT SIX-STEP JOURNEY

DIGITAL TRANSFORMATION CONSULTING – THE MOST EFFICIENT SIX-STEP JOURNEY

11/11/2021 Efficient transformation is all about marrying technology, data, and people in very subjective manners. It enables a paradigm shift within the organization’s culture, leadership, and governance holistically. Businesses worldwide has appreciated the magnificence of digital transformation and... Read More »

MANAGED IT SERVICES TO BOOST YOUR BUSINESS IN 2021

MANAGED IT SERVICES TO BOOST YOUR BUSINESS IN 2021

11/08/2021 Digital transformation is dictating today’s business landscape. Relevance spawns from connectivity and connectivity engenders the competitive edge. This is where the magnificence of Managed IT services shows its grit. Businesses are looking to integrate devices while downsizing departments... Read More »

REDEFINE E-LEARNING SOFTWARE DEVELOPMENT WITH THESE 3 TRENDS

REDEFINE E-LEARNING SOFTWARE DEVELOPMENT WITH THESE 3 TRENDS

10/26/2021 With rapidly growing interconnectivity solutions both in top and emerging economies incepted the e-learning trend. This was accompanied by the growth of digitization. And it contributed immensely to the expansion of this sector. As the cherry on top, cloud infrastructure, P2P solutions, and... Read More »

TOP 4 FEATURES OF HIGH PERFORMING ON-DEMAND APPS IN 2021

TOP 4 FEATURES OF HIGH PERFORMING ON-DEMAND APPS IN 2021

10/21/2021 On-demand apps have guided us to the future of service provision. Conventional consumerism is being replaced by convenience, comfort, and custom-made solutions. Purchases are personalized. Place, price, product, and process have become all about personal preferences. This paradigm shift is... Read More »

KEY KEN FOR REACT DEVELOPERS IN 2021

KEY KEN FOR REACT DEVELOPERS IN 2021

10/04/2021 React remains to be one of the best JavaScript libraries. It is used for front end development. Interface design using React tends to establish user centric outcomes and cross platform support. The solutions are immensely scalable and supports MVP development. The following numbers boast abo... Read More »

5 WEB DEVELOPMENT TRENDS TO RULE 2021

5 WEB DEVELOPMENT TRENDS TO RULE 2021

09/23/2021 The modern information society has rightly considered the internet its backbone. It is the core. Globally, internet penetration has crossed 59.5%. All of this point at the inevitable necessity of web apps and the corresponding standards of web development being expected. Today’s business lan... Read More »

REANALYZING DEVOPS FOR 2021: WHY YOUR FIRM UNDOUBTEDLY NEEDS A DEVOPS CONSULTANT

REANALYZING DEVOPS FOR 2021: WHY YOUR FIRM UNDOUBTEDLY NEEDS A DEVOPS CONSULTANT

09/13/2021 The organizational approach of DevOps has shown its significance across industries. The grit stems from its ability to speed up deployments while simplifying maintenance of existing systems. Best practices, automation, and other tools aid this approach. It based on controlled iterations. In... Read More »

5 VITAL TRAITS OF A SUCCESSFUL NFT MARKETPLACE

5 VITAL TRAITS OF A SUCCESSFUL NFT MARKETPLACE

09/06/2021 $69 Million. This was the price of the most expensive non-fungible token ever sold. Understanding the challenges and targeting a niche segment of audience is crucial for any business launch. These factors become even more important if you are planning to launch an NFT marketplace. In this dis... Read More »

6 ESSENTIAL SKILLS TO LOOK FOR WHILE HIRING A NODE JS DEVELOPER IN 2021

6 ESSENTIAL SKILLS TO LOOK FOR WHILE HIRING A NODE JS DEVELOPER IN 2021

08/31/2021 Node JS is the latest programming rage in 2021. The platform is JavaScript based and its popularity has been on the rise according to Stack Overflow. Let us look at some statistics to back up this claim. The platform reduces development cost by 58% according to NetGuru.Application performance i... Read More »

BENEFITS OF HIRING A SHOPWARE EXPERT FOR YOUR E-COMMERCE NEEDS

BENEFITS OF HIRING A SHOPWARE EXPERT FOR YOUR E-COMMERCE NEEDS

08/24/2021 When it comes to design and development of ecommerce store fronts, few platforms compare favorably to Shopware. The platform prioritizes customer experience and flexibility. The desired by product of this focus is increased conversion. Now let us look at what the market has to say. Accordin... Read More »

HOW MACHINE LEARNING IS REDEFINING WEB DEVELOPMENT IN 2021

HOW MACHINE LEARNING IS REDEFINING WEB DEVELOPMENT IN 2021

08/17/2021 The need of the hour is scalable solution along with better customer experience. Web development, in its conventional format, is almost reaching the pinnacle of its existence. Recently, there is a lot of valuable noise being made by the machine learning paradigm. It has seeped into various sph... Read More »

THE ULTIMATE GUIDE TO MICROSERVICES IN 2021

THE ULTIMATE GUIDE TO MICROSERVICES IN 2021

08/09/2021 Microservices is a refined application paradigm. It is known to yield functionalities as discrete services that are lightweight. It also follows a well-fashioned API. Broadly reflecting, the evolution and considerable advancements of tech such as IoT, big data, and, cloud has brought about t... Read More »

WHY YOU SHOULD HIRE A DEDICATED MOBILE APP DEVELOPMENT COMPANY IN 2021

WHY YOU SHOULD HIRE A DEDICATED MOBILE APP DEVELOPMENT COMPANY IN 2021

07/22/2021 With over 6 billion smart phone users worldwide (Statista), the mobile app development market shows no sign of slowing down. Internet penetration also plays a significant part in this. Globally, there is 59.9% internet penetration according to Internet World Stats with over 5,168,780,607 internet... Read More »

THE ‘A-Z’ OF SKILLS TO LOOK FOR IN A MOBILE APP DEVELOPERS IN 2021

THE ‘A-Z’ OF SKILLS TO LOOK FOR IN A MOBILE APP DEVELOPERS IN 2021

07/20/2021 It goes without saying that mobile app development has surpassed the peak and is in a state of frenzy now. A positive frenzy at that. As of 2021, there are over 3.48 Million apps on the Google Playstore and another 2.22 Million on App Store. It is common sense that this will only continue to rise... Read More »

BENEFITS OF HIRING AN IONIC APP DEVELOPER FOR YOUR BUSINESS

BENEFITS OF HIRING AN IONIC APP DEVELOPER FOR YOUR BUSINESS

07/09/2021 Let us talk about the Ionic development framework. It is developer friendly. It has native compatibility. It is front end agnostic. It has a developer centric community. And it is trusted by huge names like IBM, MasterCard, Comcast, NASA, Target, and McDonald’s. Following this, it comes as no surp... Read More »