How Can I Tell If My Machine Learning Model Is Working For Me? – Forbes

  • Lauren
  • May 15, 2021
  • Comments Off on How Can I Tell If My Machine Learning Model Is Working For Me? – Forbes

AI (Artificial Intelligence) concept. Deep learning. GUI (Graphical User Interface).

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How can I tell if my machine learning model is working for me? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. 

Answer by Ash Fontana, Author of The AI-First Company, on Quora: 
Businesses must eventually sustain themselves beyond external funding sources by turning profits. What’s talked about less than ML itself is how one can leverage machine learned models to generate profits. I’ve got a whole sub-section of the book that shows how to account for the revenues and costs of building a machine learning system, using traditional accounting concepts.

Essentially, data learning loops bring about profit and create investment opportunities for the AI-First vendor: better predictions can lead to more automation, which lowers operating costs, which in turn means more gross profit that can be invested in research and development (models and data), leading to better predictions, and so on. Eventually the business is so profitable on a gross basis that it covers all of the operating costs and thus nets a profit.

The other way to think of this is from the customer acquisition perspective: greater prediction accuracy can lead to more automation, attracting more customers or encouraging existing customers to use the product more, thus generating more data, leading to bet- ter predictions, and so on.
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Figuring out if you have these loops going requires digging into the unit, research, data, and other costs (which I explain how to do in the book).

AI Model

Ash Fontana

This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Source: https://www.forbes.com/sites/quora/2021/05/15/how-can-i-tell-if-my-machine-learning-model-is-working-for-me/