There has been a missuse or misundestanding about what Machine learning, a branch of AI, is. Generally, many people relates the term AI to mean sentient computers as the ones in SciFi movies, but in practice everyday tools such as Google’s language translation service, Netflix’s film recommendation engine or Apple’s Siri virtual assistant deploy rudimentary forms of AI.
In fact, an interesting view of ML and AI is posed by Matthew Dixon, assistant professor of finance at the Illinois Institute of Technology, who defines machine learning as an “optimisation machine that minimises chaos”. It can learn the difference between bananas and apples and sort them out, or even teach a computer how to play and quickly master a game like Super Mario from scratch. Machine learning can also be unleashed on “unstructured data”, such as jumbled numbers but also images and videos that are usually difficult for a computer to understand.
To learn more about this topic, visit Fintech article in the FT