Automation. Robotics. Data Analytics.
These are the three prominent business trends in 2022. Why? Because today’s consumer values efficiency and innovation — things you can’t optimize without embracing these trends.
The machine learning industry embodies all three and translates them into every customer’s dream service. In this blog, we’ll answer: what is Machine Learning as a Service? The factors contributing to its quick-rising popularity, and usage in different sectors plus the biggest leaders in the ML space.
What is MLaaS?
Machine learning as a service (MLaaS) has only entered the market in the last decade, but the term appeared much earlier. In 1959, Arthur Samuel described it as the ability to teach computers how to learn without programming them.
What does today’s machine learning industry look like, and who’s running the show? Of course, AnyML joins the ring with no-code AI to help companies harness their data.
But a few major players have built the machine learning industry to a market value in the tens of billions. Let’s find out who, what, and how!
Machine Learning Industry Market Growth and Development
Today’s machine learning industry market is worth a whopping $15 billion in 2021 – almost a third of its expected value for 2028.
Why so much growth? Cloud-based technologies are on the rise. We know that from the 158 billion market value of SaaS. But new cloud-based technology is in town — MLaaS. Inspired by artificial intelligence, the MLaaS model provides customers with everything they could dream of in service. No wonder businesses are adopting it, along with IoT and automation, as much as possible.
Human solutions can be often limiting and time-consuming. But if you give a problem to an artificial intelligence entity and have it solve it in a million different ways — you’ve got machine learning, mimicking human knowledge and education in a fraction of the time.
Text analysis, translation, augmented reality, fraud detection, chatbots — these are only a few efficient business tools that machine learning made possible. They work magic on information and strategy, and any business that isn’t using them is running behind.
As for the big key players? They made wide strides in the machine learning industry and brought it to its success today.
Top Players in the Machine Learning Industry
Here are 10 names you need to memorize if you want to learn how MLaaS became so big:
- Hewlett Packard Enterprises
- IBM Corporation
- Google Inc.
- Amazon Web Services
- Ersatz Labs
- Big ML Inc.
- Yottamine Analytics
Let’s deep dive and understand the three most popular platforms, starting with Amazon.
Amazon infused AI and machine learning throughout every facet of their business, encouraging departments to find ways to use it. Over time, they started using robotics in their distribution centers to sort, package, and deliver products to customers.
They even use it in something as universal as their search function. Machine learning powers every customer search using page layout optimization, product recommendations, and predictive typing (remind you of anyone? *cough* Google).
Speaking of Google:
How has Google propelled the machine learning industry? Consider the company’s “ninja” machine learning program — it encourages new hires to spend six months with an AI and machine learning team to learn the ropes.
Google’s machine learning runs deep in the organization’s programs — advertisements, search function, Google Play, and YouTube. Think of recent AI and machine learning projects Google has released — Deepmind Lab, AdaNet, TensorFlow. Google is and continues to be a leader in the machine learning service space.
Room for one more player? Let’s set our sights on Microsoft. The computer giant has its own machine learning cloud service (Azure) to help engineers and the like manage their machine learning life cycles. But they go beyond machine learning as a service for customers.
Microsoft optimizes machine learning to detect hackers and cyber attacks. The ML algorithms alert Microsoft of the threats and keep their data secure.
Harness Machine Learning with AnyML
So, there you have it: a rough sketch of the massive machine learning industry today.
You can do all that through AnyML’s service. And you don’t even need code.
Contact us today to request a demo!
Curious about the machine learning industry’s state in 2022? Learn about market growth and key players with this guide.