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Classification algorithms include logistic regression, k-nearestneighbors and support vector machines (SVMs), among others. The global machine learning market was valued at USD 19 billion in 2022 and is expected to reach USD 188 billion by 2030 (a CAGR of more than 37 percent).
CAGR during 2022-2030. In 2023, the expected reach of the AI market is supposed to reach the $500 billion mark and in 2030 it is supposed to reach $1,597.1 k-NearestNeighbors (k-NN): In the supervised approach, k-NN assigns labels to instances based on their k-nearest neighbours.
The global Machine Learning market is rapidly growing, projected to reach US$79.29bn in 2024 and grow at a CAGR of 36.08% from 2024 to 2030. k-NearestNeighbors (k-NN) The k-NN algorithm assumes that similar data points are close to each other in feature space.
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