Demystifying machine learning

first_imgIn 1959, Arthur Samuel defined machine learning as a “field of study that gives computers the ability to learn without being explicitly programmed.” No, wait – Did I just type “1959?”  Yes, true!Machine learning, which is a branch of artificial intelligence (AI), has been around a while, but the technology has made enormous strides since 1959.  The ability to learn without explicitly being programmed sounds like a mantra taken from a child-rearing manual from the 1950s. However, this concept has even greater potential today when we apply the technology to fraud prevention.Machine learning will still require the presence of humans to calibrate and confirm fraud, and to assist the model in learning from historical data.  But the promise of a faster and more accurate solution for fraud prevention has CO-OP very excited about the possibilities – which is why our company is becoming an early adopter of this technology. continue reading » 42SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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