Machine learning helps industry in many ways: NITW Director
Warangal Urban: National Institute of Technology, Warangal, (NITW), Director Professor N V Ramana Rao said that building precise models in an organisation had a better chance of identifying profitable opportunities and avoiding unknown risks with the help of Machine Learning (ML) technologies.
Addressing participants after inaugurating a 10-day Faculty Development Programme (FDP) conducted by the Centre for Continuing Education (CCE) on “Machine learning for data science using Python” through online mode on Monday, Prof Ramana Rao stressed on the need for technological innovations.
“Financial industry uses ML technology to identify important insights in data, and prevent fraud. Machine Learning can identify investment opportunities or help investors to know when to trade. Machine learning technology can also help medical experts analyze data to identify trends or red flags that may lead to improved diagnoses and treatment. Analyzing minerals in the ground is another application related to the Machine Learning,” he said and added that predicting refinery sensor failure can also be done through the ML.
“ML helps to streamline oil distribution to make it more efficient and cost-effective. Government agencies such as public safety and utilities have a particular need for machine learning since they have multiple sources of data.
Websites recommending items you might like based on previous purchases are using machine learning to analyze your buying history of the customers,” Prof Rao explained.
CCE incharge Dr Raju Bhukya said that the CCE was organizing FDPs in cutting edge technologies like AI, Cybersecurity, ML, IoT and Block Chain technologies. FDP coordinators Dr Sandhya and Dr Venkateshwarlu were present.
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