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Machine Learning (ML) services

Machine learning has substantially changed many businesses and organizations over the past 10 years, becoming a crucial component of their daily operations. Therefore, it should come as no surprise that several tailored cloud-based solutions have been developed to assist data scientists in their jobs.

According to Forbes, the market for machine learning will increase at an amazing compound annual growth rate of 43%, from $7.3 billion in 2020 to $30.6 billion in 2024. Data scientists and ML engineers must develop additional models to fulfill the continuously changing business requirements of consumers and stakeholders if they are to maintain this expansion.

Machine Learning as a Service (MLaaS) can help data scientists manage these complexities more comfortably. MLaaS platforms provide a suite of cloud-based tools and services that can help data scientists to:

  • Build and train machine learning models
  • Deploy and manage models at scale
  • Monitor and evaluate model performance
  • Experiment with new ideas and iterate quickly
  • Maintain production environments

This allows data scientists to focus on their core competency: developing and deploying machine learning models that solve real-world problems.

What is Machine Learning as a Service (MLaaS)?

Machine Learning as a Service (MLaaS) is a cloud-based platform that provides machine learning tools and services to data scientists, machine learning engineers, data engineers, and other machine learning professionals. It is a relatively new offering, but it has quickly gained popularity due to its usefulness and power.

MLaaS platforms can help data scientists with a variety of tasks, including:

  • Predictive analysis out-of-the-box for different application scenarios
  • Data preparation
  • training and tweaking of models
  • Run-time orchestration
  • model execution

MLaaS platforms leverage the power of cloud computing to offer these services on the go, which can save data scientists a lot of time and effort.

What an MLaaS platform can offer?

MLaaS platforms can help you with a variety of tasks, including:

  • Data management : MLaaS platforms can help you to organize and manage your data for machine learning experiments and data pipelining. This can be especially helpful if you are moving your data from on-premise storage to cloud storage.
  • Access to ML tools : MLaaS platforms offer a variety of ML tools, such as predictive analytics, data visualization, sentiment analysis, face recognition, creditworthiness assessments, business intelligence, and healthcare. This can save you the time and expense of developing your own ML tools.
  • Ease of use : MLaaS platforms are designed to be easy to use, even for data scientists who are new to machine learning. You don’t need to worry about installing software or providing your own servers.
  • Cost efficiency : MLaaS platforms can be more cost-effective than building and maintaining your own ML infrastructure. This is because you only pay for the resources that you need, when you need them.

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