Machine learning (ML) is a subset of artificial intelligence that enables systems to learn and improve from experience without being explicitly programmed. Instead of following rigid rules, ML models identify patterns in data and make predictions or decisions based on what they have learned.
There are three main types of machine learning: supervised learning (learning from labeled examples), unsupervised learning (finding hidden patterns in data), and reinforcement learning (learning through trial and error with rewards). Each has distinct business applications.
For business leaders, the most important thing is not to understand the mathematics behind ML algorithms, but to understand what problems ML can solve. Common applications include demand forecasting, customer churn prediction, fraud detection, and personalized recommendations.
