You may have heard these three terms quite a lot, and people tend to use them interchangeably. However, all of these are distinct and have entirely different meanings, despite being so similar. All three of these stem out from the field of Analytics and Computer Science.
The phrase Machine Learning means exactly what it sounds like. It is the field of study related to a system’s ability to learn and improve from experiences without being explicitly programmed. ML is one of the most groundbreaking technologies of our time, and it aims to make machines think more like humans.
Machine Learning has been around since the 1950s, but it wasn’t until recently that it began to shape the business world significantly. Businesses today take four common approaches towards ML, namely, supervised learning, unsupervised learning, semi-supervised learning, and reinforced learning.
There are many programming languages in the market to choose from, but Python is the most widely used. Machine learning with Python is highly popular because it can quickly build high performing algorithms because of its extensive collection of libraries. Other popular programming languages for ML are Java, C++, R, and Julia.
Machine Learning has innumerable applications today, and most of them will transform our lives drastically. It can be used for Virtual Personal Assistants, Image Recognition, Video surveillance, predictions, and many more.
Tech companies like Google, Snapchat, Facebook, and other companies from Finance, Real Estate, Research firms, etc. are always on the lookout to hire ML Engineers. An experienced ML Engineer who knows his way around machine learning tools can earn more than $120k a year.
Data Science is a field of study that deals with algorithms and scientific processes to draw insights from structural and unstructured data. It is more of a business-related field and uses several Machine Learning algorithms to solve complex problems that would otherwise require human intelligence.
Data Science has four basic approaches which include – Descriptive approach (based on initial information and current status), Diagnostic approach(what is happening and why it is happening), Predictive approach(deals with forecasts, trends, and the probability of future events) and Prescriptive approach( how actually to solve the problem).
The benefits of Data Science for businesses are countless. The primary advantage is that it promotes better decision making based on quantifiable evidence. Data Science can also help recruit and train people, improve the product, market research, and find the target audience.
Data Scientists are sought after by companies from most sectors, including tech, finance, manufacturing, real estate, consulting, and many others. After a few years of experience, they can expect an annual salary of upwards of $80k.
Artificial Intelligence or AI is the ability of machines to have the human-like cognitive ability to solve problems on their own without any external help. There are four types of artificial intelligence based on functionalities, which include – reactive machines, limited memory, the theory of mind, and self-awareness. Currently, researchers are working rigorously on theory of mind AI which has several applications in psychology.
When it comes to languages, Python is again the clear winner here with a wide margin, followed by R, Lisp, Prolog, and Java. Artificial Intelligence is already so widespread but in a very subtle way. Netflix, TikTok, Youtube, Alexa, and many others use AI to give you a seamless experience. In fact, the applications of AI stretch far beyond these popular apps, and it has massive potential in the fields of Banking, Finance, Manufacturing, Space Exploration, Agriculture, Healthcare, Gaming, and many others.
AI Scientists and Engineers are in high demand all across the globe, with some of the biggest companies as recruiters. These companies belong to a wide range of sectors, including technology, finance, consulting, automobile, and many others. An experienced AI Scientist or Engineer earns an annual salary to the tune of nearly $110k a year.