automation

5 key features of machine learning

Machine learning is based on the idea that a system can learn to perform a task without being explicitly programmed.

Machine learning has a wide range of applications in the finance, healthcare, marketing and transportation industries. It is used to analyze and process large amounts of data, make predictions, and automate decision-making processes, among other tasks.

In this article, learn the five key features of machine learning that make it a powerful tool for solving a broad set of problems, from image and speech recognition to recommendation systems and natural language processing.

What is machine learning?

Machine learning is a subfield of artificial intelligence (AI) that involves the development of algorithms and statistical models, which allow computers to learn from data without being explicitly programmed. Building systems with the ability to continuously improve their performance on a given task based on the experience obtained from the data they are exposed to is the aim of machine learning. This is accomplished by giving algorithms extensive training on huge data sets, which enables the algorithms to find patterns and connections in the data.

Supervised learning: This involves training a model on a labeled data set, where the correct output is provided for each input. The algorithm uses this information to learn the relationship between inputs and outputs and can then make predictions on new, unseen data.
Unsupervised learning: This involves training a model on an unlabeled data set where the correct output is not provided. The algorithm must find the structure in the data on its own and is typically used for clustering, dimensionality reduction and anomaly detection.
Reinforcement learning: This involves training an agent to make decisions in an environment where it receives feedback through rewards or punishments. The algorithm uses this feedback to learn the best strategy for maximizing rewards over time.

5 key features of machine learning

Machine learning has become one of the most important technological advancements in recent years and has significantly impacted a broad range of industries and applications. Its main features are:

Predictive modeling: Data is used by machine learning algorithms to create models that forecast future events. These models can be used to determine the risk of a loan default or the likelihood that a consumer would make a purchase, among other things.
Automation: Machine learning algorithms automate the process of finding patterns in data, requiring less human involvement and enabling more precise and effective analysis.
Scalability: Machine learning techniques are well suited for processing big data because they are made to handle massive amounts of data. As a result, businesses can make decisions based on information gleaned from such data.
Generalization: Algorithms for machine learning are capable of discovering broad patterns in data that can be used to analyze fresh, unexplored data. Even though the data used to train the model may not be immediately applicable to the task at hand, they are useful for forecasting future events.
Adaptiveness: As new data becomes available, machine learning algorithms are built to learn and adapt continuously. As a result, they can enhance their performance over time, becoming more precise and efficient as more data is made available to them.

The integration of machine learning and blockchain technology

The integration of machine learning and blockchain technology holds great promise for the future. Machine learning algorithms can be used to assess the data and generate predictions based on it using a decentralized and secure platform like the blockchain.

One possible area of usage for this integration is in the banking sector, where blockchain technology’s decentralized character and ability to prohibit unauthorized access to sensitive data can help machine learning algorithms detect fraud and money laundering more efficiently.

Machine learning and blockchain technology can also make a significant difference in supply chain management. While blockchain technology can be used to provide openness and accountability in the supply chain, machine learning algorithms can be utilized to optimize supply chain operations and forecast demand.

Blockchain technology can enable the secure and private sharing of medical records, while machine learning algorithms can be used to predict disease outbreaks and enhance patient outcomes.

The future of machine learning

The future of machine learning is expected to be characterized by continued advances in algorithms, computing power and data availability. As machine learning becomes more widely adopted and integrated into various industries, it has the potential to greatly impact society in a number of ways.

Some of the key trends and developments in the future of machine learning include:

Increased automation: As machine learning algorithms progress, they will be able to automate a larger range of jobs, requiring less human input and boosting productivity.
More personalized experiences: Machine learning algorithms will have the capacity to assess and make use of enormous volumes of data to deliver highly individualized experiences, such as personalized suggestions and adverts.
Enhanced judgment: As machine learning algorithms get better at making complicated judgments and predictions, numerous businesses will benefit from more precise and efficient decision-making.
AI ethical advancements: As machine learning becomes more common, there will be a growing emphasis on ensuring that it is developed and utilized ethically and responsibly, with a focus on safeguarding privacy and eliminating biases in decision-making.
Interdisciplinary collaboration: Machine learning will increasingly be used in collaboration with other fields, such as neuroscience and biology, to drive new discoveries and advancements in those areas.

Overall, the future of machine learning holds great promise and is expected to continue transforming a wide range of industries, from finance to healthcare, in the coming years.

GameFi could be the answer to unemployment for some — Aussie game studio

The executives say traditional jobs are increasingly at risk through factors such as automation, but GameFi can provide a viable alternative to earn a wage.

Australian-based Web3 game studio Ninja Syndicate’s CEO and founder believe GameFi could usher in a new era where users can earn a living wage through blockchain games.

Speaking to Cointelegraph, founder John Nguyen and CEO Alex Dunmow said that traditional jobs are increasingly at risk through factors such as automation.

According to the game developers, blockchain games can and are playing a vital role for people to earn a living in the digital world through play-to-earn and move-to-earn.

The process often requires significant work, but Dunmow said many mainstream triple-A games already feature “grinding for hundreds of hours,” though the assets “provide no value for the player.”

In GameFi titles, digital assets can come in the form of nonfungible tokens (NFTs). Users can then take them to a marketplace and sell them for fiat currency or crypto, essentially earning a wage through gaming, argued Dunmow:

“NFTs can give you the technical ability to take ownership of a game asset out of the control of the publisher of the game.”

One of the best examples Dunmow has seen of people making a living through GameFi is a 2021 report about a community in the Philippines that turned to NFT gaming during COVID-19, which caused a shortage of workers in low-paying jobs, as they could earn wages playing blockchain games instead:

“I saw the whole situation as a positive. A group of people who were likely being exploited in their low-paying day jobs have found a way to earn wages in the Metaverse.”

Dunmow and Nguyen said the negativity around NFTs and blockchain in gaming present a challenge, but through their games, they hope to “subtly educate people about the benefits of NFTs.”

The game studio has been developing a set of blockchain games under the Supremacy World ecosystem, which involves building, fighting and mining resources within a fictional dystopian world where factions use giant mechs to fight for territory and power.

Supremacy will eventually combine four games: a battle arena that is already out, a first-person shooter, a massively multiplayer online game and a real-time grand strategy game.

Through the series of four interoperable games, the executives said they are creating an ecosystem where players have “sovereign ownership” over their digital assets and can use them in whatever way they want, explaining:

“What interoperable boils down to is being able to share digital assets between games.“

However, Nguyen noted that this interoperability also can also extend to “other game worlds, DeFi and PFP collection.”

“Supremacy will give people who own an NFT, whatever it may be, in-game assets in our world,” said Nguyen, adding that they recently were given a chance to design a custom mech skin for a user based on his Bored Ape Yacht Club brand NFT, noting that he can now connect his Ape and claim his custom skin based on his NFT.

Although given the time and resources required, Dunmow acknowledged they won’t be able to custom design something for every user, but he said it shows what is possible.

Dunmow said that at the heart of their game, they’re still trying to build a “fun game,” which he believes is vital to the industry’s survival, adding that “Attracting players from outside the crypto space is crucial, especially in bear markets:”

“You make a fun game that has blockchain elements and attracts mainstream players; you are now disconnected from market forces, and you’ll be able to survive any recession.”

On Oct. 5, Ninja Syndicate announced a new deal with NFT minting and trading platform Immutable X allowing i to build on Immutable X’s layer-2 ecosystem, joining projects including Illuvium, Gods Unchained and GameStop.