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According to the Machine Learning Industry Data Book, 2023 - 2030 published by Grand View Research, the machine learning industry is set to experience significant growth due to the increasing use of AI and IoT devices.
SAN FRANCISCO, March 16, 2023 /PRNewswire/ --According to the "Machine Learning Industry Data Book, 2023 - 2030" published by Grand View Research, the machine learning industry is set to experience significant growth due to the increasing use of AI and IoT devices. Forward-thinking companies are embracing machine learning (ML) to enhance efficiency, agility, and reliability across various business verticals. For example, the cybersecurity sector has seen a surge in ML adoption to develop antivirus software. The proliferation of data and the use of diverse data types to train ML models will further propel the industry forward. Organizations are expected to leverage ML-powered services for applications such as voice transcription, sentiment analysis, text-to-speech, translation, and anomaly detection.
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The COVID-19 pandemic has significantly increased the demand for machine learning (ML) in the healthcare and e-commerce sectors. The trend towards hyper-personalization and improved customer experiences has been further amplified by the pandemic. ML has been instrumental in the early detection, research, and treatment of diseases. In the healthcare sector, AI-powered technologies have enabled doctors to update patients' charts and analyze medical images and test results to facilitate diagnoses. Overall, the pandemic has accelerated the adoption of ML and AI technologies, leading to significant advancements in the healthcare and e-commerce sectors.
The demand for deep learning technology has been steadily increasing as it enables machines to learn from past experiences and make complex decisions. Chipset manufacturers and cloud service providers are expected to benefit from the growing popularity of data mining and image recognition. The increasing adoption of face recognition technology in smartphones, diagnostic imaging in healthcare, and the rising demand for self-driving cars are all fuelled by the growing popularity of deep learning. In addition, manufacturing sites are showing a keen interest in using deep learning to automate and streamline their operations. The potential benefits of this technology in a variety of industries are significant, and it is expected to continue to gain traction in the years to come.