Machine learning (ML) is a subset of artificial intelligence that involves the use of algorithms and statistical models to enable computer systems to improve their performance on a specific task through experience. Essentially, ML allows computer systems to learn from data and improve their performance over time without being explicitly programmed.
The significance of ML lies in its ability to automate complex and repetitive tasks, identify patterns in large datasets, and make predictions or recommendations based on data.
One use case for ML in ecommerce is personalized product recommendations. Ecommerce businesses can use ML algorithms to analyze a customer's purchase history, browsing behavior, and other data points to make personalized product recommendations that are more likely to result in a sale. Manufacturers can use also ML algorithms to analyze data from sensors and other sources to predict when equipment is likely to fail, allowing for proactive maintenance and minimizing downtime.