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billion by 2031 at a CAGR of 34.20%. Clustering and dimensionality reduction are common tasks in unSupervised Learning. For example, clustering algorithms can group customers by purchasing behaviour, even if the group labels are not predefined. Decisiontrees are easy to interpret but prone to overfitting.
Bureau of Labor Statistics predicts that employment for Data Scientists will grow by 36% from 2021 to 2031 , making it one of the fastest-growing professions. These statistics underscore the significant impact that Data Science and AI are having on our future, reshaping how we analyse data, make decisions, and interact with technology.
billion by 2031, growing at a CAGR of 34.20%. DecisionTrees These trees split data into branches based on feature values, providing clear decision rules. A Machine Learning Engineer is crucial in designing, building, and deploying models that drive this transformation.
Meanwhile, the ML market , valued at $48 billion in 2023, is expected to hit $505 billion by 2031. It is often used for clustering data into meaningful categories. In ML, algorithms like neural networks and decisiontrees are used to identify patterns and make predictions.
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