Before you read rest of the writing below, you need to visualize something astonishing. So you are in your work desk scrolling through the documents you just received from your new client. You are planning to go shopping with your children tomorrow because it’s Black Friday. Suddenly, you receive a call from your credit card holder and the man on the line asks you if you had purchased any expensive piece of hardware just a moment ago using the card provided by your bank. You desperately check to see whether the card is in your purse and yeah, it’s right there. So how did a stranger complete a transaction by using your card just a second ago? Sounds interest, right? And more interesting, how did your card holder know that the purchase made recently was not made by you? That’s what we call advanced machine learning and sure, it’s new technology. Be informed that no one is tracking you but the notification comes at once.
With the advent of new technology, we are inside a green circle where everything of ours is safe. It’s worth diving into this amazing condition and explore how all the events happened. An example of credit card can clearly get you to think about machine learning because money matters. First things first, machine learning is a technology that gives computers or servers the ability to learn the behaviors of consumers without being programmed in the wrong way. With the new technology of machine learning, you can handle your accounts easily. Since you can get message delivered to your wearable device.
This technology is being widely used by a number of companies nowadays. One more example using which you can learn about machine learning is by knowing how YouTube suggests you some channels and videos. Know that it takes a lot of computing power to receive the type of phone call mentioned above. Let’s begin with the banks. So the main goal of your bank is to know what type of purchase is fraudulent before money vanishes from your card. One of the ways that banks know whether a recent transaction was fraudulent or not is that they track from where the transaction was made. So if your card is used somewhere in Russia but you are a US citizen, you could get such notifications.
Having a look back at the old days, detecting fraud, relied on data analysis techniques and again, this required human involvement, which might not be acceptable for many of you. In fact, everything in machine learning depends upon an algorithm designed for every consumer. On the other hand, the new technologies emerging these days like machine learning and cloud computing are taking big steps on detection games.
Today, many business companies are adopting machine learning to enhance the experience for their consumers. In the past, even the big companies like IBM stored their info in databases like Oracle and the main advantage of having to use relational database was accessibility. The time has changed like in a nightmare so something powerful is required to safeguard the credentials of consumers. As a side note, the money required to afford machine learning is so high that small organizations won’t be able to make it.
The system knows exactly what you have been doing for a long time. For instance, if you go to Joe’s refueling station every Saturday at 5 after leaving from your office, the algorithm has the record stored. You may be a weekend shopper and sometimes, you may choose a single retailer to buy all your products. If you have recently purchased a PS4, it’s not a problem if you buy GTA V the next day. But if you are single and buy 10 gym pants at once just to upsurge your lifestyle fitness, the system takes note and stashes a ‘+1’ in your ‘Fraud-O’ meter. When the meter is filled, you might get a call from your card holder regarding all your recent payments. The system is also capable of tracking the way how you use your card. Everything is taken care of by the system serving you and every penny you spend is under observation. Sudden and abrupt change in the algorithm literally means something has gone wrong.
To sum up, the technology cited above is not any kind of wearable technology but it is something that can save you a lot of time and tension but takes up much to implement. As a side note, this new tech is also dedicated to improving your lifestyle fitness.
Kathy Mitchell is a technology and gadget geek, writer & blogger by profession. She love to write articles for many on-line communities, blogs, & websites related to gadgets & new technologies. She is an inspirational writer and has written numerous articles on world news headlines. Connect with her on Facebook and twitter.