STATISTICS: Where is it used in Machine Learning (ML) & Artificial Intelligence (AI)?
What is statistics?
Defined simply, Statistics is field that deals with the
collection, analysis, interpretation and presentation of
data. We see and use data in our daily lives, it could
be any kind of data. This data can be used to make
predictions to provide a better understanding and
accurate description of situations, and that is where
statistics come in.
To get a better understanding:
statistical method i.e. hypothesis testing; can be used to get a better understanding on why there’s a rising number of people killed by hippos in the Okavango Delta investors can use statistics to perform research and analysis of the stock market and determine how to improve the performance of an investment portfolio weather forecast models are built using statistics that compare prior weather conditions with current to forecast future weather conditions
Remembering that AI is based on the idea that systems can learn from data, identify patterns and
make decisions with minimal human intervention. ML is a subset of AI, which is a science of designing and make decisions with minimal human intervention.
ML is a subset of AI, which is a science of designing and applying a set of algorithms that are able to learn things from past cases (data).
In the ML process, the first step is to collect the data in the area of interest and in this scenario statistics helps to optimize collection or preparation of said data (sample size, sampling design, design of experiments, etc).
Statistical tools are then used to identify and correct errors in the datasets that may negatively affect a predictive model: this is called data cleaning and forms a crucial part of what Seriti Insights does for clients in the journey to developing A.I. solutions for their business.