Machine learning systems are equipped with artificial intelligence engines that provide these systems with the capability of learning by themselves without having to write programs to do so. They adjust and change programs as a result of being exposed to big data sets. The process of doing so is similar to the data mining concept where the data set is searched for patterns. The difference is in how those patterns are used. Data mining's purpose is to enhance human comprehension and understanding. Machine learning's algorithms purpose is to adjust some program's action without human supervision, learning from past searches and also continuously forward as it's exposed to new data.

The News Feed service in Facebook is an example, automatically personalizing a user's feed from his interaction with his or her friend's posts. The "machine" uses statistical and predictive analysis that identify interaction patterns (skipped, like, read, comment) and uses the results to adjust the News Feed output continuously without human intervention. 

Impact on Existing and Emerging Markets

The NBA is using machine analytics created by a California-based startup to create predictive models that allow coaches to better discern a player's ability. Fed with many seasons of data, the machine can make predictions of a player's abilities. Players can have good days and bad days, get sick or lose motivation, but over time a good player will be good and a bad player can be spotted. By examining big data sets of individual performance over many seasons, the machine develops predictive models that feed into the coach’s decision-making process when faced with certain teams or particular situations. 

General Electric, who has been around for 119 years is spending millions of dollars in artificial intelligence learning systems. Its many years of data from oil exploration and jet engine research is being fed to an IBM-developed system to reduce maintenance costs, optimize performance and anticipate breakdowns.

Over a dozen banks in Europe replaced their human-based statistical modeling processes with machines. The new engines create recommendations for low-profit customers such as retail clients, small and medium-sized companies. The lower-cost, faster results approach allows the bank to create micro-target models for forecasting service cancellations and loan defaults and then how to act under those potential situations. As a result of these new models and inputs into decision making some banks have experienced new product sales increases of 10 percent, lower capital expenses and increased collections by 20 percent. 

Emerging markets and industries

By now we have seen how cell phones and emerging and developing economies go together. This relationship has generated big data sets that hold information about behaviors and mobility patterns. Machine learning examines and analyzes the data to extract information in usage patterns for these new and little understood emergent economies. Both private and public policymakers can use this information to assess technology-based programs proposed by public officials and technology companies can use it to focus on developing personalized services and investment decisions.

Machine learning service providers targeting emerging economies in this example focus on evaluating demographic and socio-economic indicators and its impact on the way people use mobile technologies. The socioeconomic status of an individual or a population can be used to understand its access and expectations on education, housing, health and vital utilities such as water and electricity. Predictive models can then be created around customer's purchasing power and marketing campaigns created to offer new products. Instead of relying exclusively on phone interviews, focus groups or other kinds of person-to-person interactions, auto-learning algorithms can also be applied to the huge amounts of data collected by other entities such as Google and Facebook.

A warning

Traditional industries trying to profit from emerging markets will see a slowdown unless they adapt to new competitive forces unleashed in part by new technologies such as artificial intelligence that offer unprecedented capabilities at a lower entry and support cost than before. But small high-tech based companies are introducing new flexible, adaptable business models more suitable to new high-risk markets. Digital platforms rely on algorithms to host at a low cost and with quality services thousands of small and mid-size enterprises in countries such as China, India, Central America and Asia. These collaborations based on new technologies and tools gives the emerging market enterprises the reach and resources needed to challenge traditional business model companies.

Recently, I asked my friend, Ray, to list those he believes are the top 10 most forward thinkers in the IT industry.  Below is the list he generated. 

Like most smart people, Ray gets his information from institutions such as the New York Times, the Wall Street Journal, the Huffington Post, Ted Talks ...  Ray is not an IT expert; he is, however, a marketer: the type that has an opinion on everything and is all too willing to share it.  Unfortunately, many of his opinions are based upon the writings/editorials of those attempting to appeal to the reading level of an 8th grader.  I suppose it could be worse.  He could be referencing Yahoo News, where important stories get priority placement such as when the voluptuous Kate Upton holds a computer close to her breasts.

Before you read further, note that missing from this list and not credited are innovators: Bill Joy, Dennis Ritchie, Linus Torvalds, Alan Turing, Edward Howard Armstrong, Peter Andreas Grunberg and Albert Fent, Gottfried Wilhelm Leibniz/Hermann Grassmann ... You know the type:  the type of individual who burns the midnight oil and rarely, if ever, guffaws over their discoveries or achievements.

Java still has its place in the world of software development, but is it quickly becoming obsolete by the more dynamically enabled Python programming language? The issue is hotly contested by both sides of the debate. Java experts point out that Java is still being developed with more programmer friendly updates. Python users swear that Java can take up to ten times longer to develop. Managers that need to make the best decision for a company need concrete information so that an informed and rational decision can be made.

First, Java is a static typed language while Python is dynamically typed. Static typed languages require that each variable name must be tied to both a type and an object. Dynamically typed languages only require that a variable name only gets bound to an object. Immediately, this puts Python ahead of the game in terms of productivity since a static typed language requires several elements and can make errors in coding more likely.

Python uses a concise language while Java uses verbose language. Concise language, as the name suggests, gets straight to the point without extra words. Removing additional syntax can greatly reduce the amount of time required to program.  A simple call in Java, such as the ever notorious "Hello, World" requires three several lines of coding while Python requires a single sentence. Java requires the use of checked exceptions. If the exceptions are not caught or thrown out then the code fails to compile. In terms of language, Python certainly has surpassed Java in terms of brevity.

Additionally, while Java's string handling capabilities have improved they haven't yet matched the sophistication of Python's. Web applications rely upon fast load times and extraneous code can increase user wait time. Python optimizes code in ways that Java doesn't, and this can make Python a more efficient language. However, Java does run faster than Python and this can be a significant advantage for programmers using Java. When you factor in the need for a compiler for Java applications the speed factor cancels itself out leaving Python and Java at an impasse.

While a programmer will continue to argue for the language that makes it easiest based on the programmer's current level of knowledge, new software compiled with Python takes less time and provides a simplified coding language that reduces the chance for errors. When things go right, Java works well and there are no problems. However, when errors get introduced into the code, it can become extremely time consuming to locate and correct those errors. Python generally uses less code to begin with and makes it easier and more efficient to work with.

Ultimately, both languages have their own strengths and weaknesses. For creating simple applications, Python provides a simpler and more effective application. Larger applications can benefit from Java and the verbosity of the code actually makes it more compatible with future versions. Python code has been known to break with new releases. Ultimately, Python works best as a type of connecting language to conduct quick and dirty work that would be too intensive when using Java alone. In this sense, Java is a low-level implementation language. While both languages are continuing to develop, it's unlikely that one language will surpass the other for all programming needs in the near future.

Let’s face it, fad or not, companies are starting to ask themselves how they could possibly use machine learning and AI technologies in their organization. Many are being lured by the promise of profits by discovering winning patterns with algorithms that will enable solid predictions… The reality is that most technology and business professionals do not have sufficient understanding of how machine learning works and where it can be applied.  For a lot of firms, the focus still tends to be on small-scale changes instead of focusing on what really matters…tackling their approach to machine learning.

In the recent Wall Street Journal article, Machine Learning at Scale Remains Elusive for Many Firms, Steven Norton captures interesting comments from the industry’s data science experts. In the article, he quotes panelists from the MIT Digital Economy Conference in NYC, on businesses current practices with AI and machine learning. All agree on the fact that, for all the talk of Machine Learning and AI’s potential in the enterprise, many firms aren’t yet equipped to take advantage of it fully.

Panelist,  Michael Chui, partner at McKinsey Global Institute states that “If a company just mechanically says OK, I’ll automate this little activity here and this little activity there, rather than re-thinking the entire process and how it can be enabled by technology, they usually get very little value out of it. “Few companies have deployed these technologies in a core business process or at scale.”

Panelist, Hilary Mason, general manager at Cloudera Inc., had this to say, “With very few exceptions, every company we work with wants to start with a cost-savings application of automation.” “Most organizations are not set up to do this well.”