FedScoop: The uses for machine learning are growing at an unprecedented rate. Yet, as machine learning and its applications advance, the bottlenecks inhibiting its large-scale adoption are becoming clear. A lack of good, labeled data is an impediment to good AI.
Researchers need labeled data because machine learning first requires training a model. For example, if we want a model that predicts whether a consumer complaint is about cyber fraud or financial fraud, we would need to first label fraud complaints as either “cyber” or “financial.” We would then use the labeled data to train the model and eventually turn the model on real-time complaints.
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