Аннотация
Artificial Intelligence (AI) has emerged as one of the decisive expertise with applications across various industry domains. Machine learning (ML), a subset of AI, is an important set of algorithms used
for solving several business and social problems. The objective of this book is to discuss machine
learning model development using Python. AI and ML are important skills that every graduate in
engineering and management discipline will require to advance in their career. Companies across
different industry sectors such as retail, finance, insurance, manufacturing, healthcare are planning
to build and offer AI-based solutions to stay competitive in the market. Companies across different
domains will need a large pool of experts in these fields to build products and solutions for them. An
estimate by IDC (International Data Corporation) states that spending by organizations on AI and ML
will grow from $12B in 2017 to $57.6B in 2021 (Columbus, 2018)1. Almost 61% of organizations have
reported that Machine Learning and Artificial Intelligence will be among their top data initiatives in
2019. Machine Learning is going to be most in-demand AI skill for data scientists (Zafarino, 2018)2.
An article published in The Economic Times in 2018 states that India’s demand for data scientist grew
by 400%, but in contrast the supply has only increased by 19% (Pramanik, 2018)3.
Python is the leading programming language used by several organizations for creating end-to-end
solutions using ML. Several universities and institutions have started undergraduate and post-graduate programs in business analytics, and one of the core offerings is skill development in machine learning.
But there is a shortage of quality teaching material that provides insights into application of machine
learning using real-world examples. This book is an attempt to create hands-on content for structured
learning. This is a practitioner’s book that both students and industry professionals can use to understand and master skills in machine learning using Python.
We have been teaching Business Analytics, Artificial Intelligence and Machine Learning at the Indian
Institute of Management, Bangalore, for MBA students and several other leading corporates in India for
many years. This book is a result of learnings on how to make the students understand machine learning in an efficient manner. For better understanding, we have reproduced many concepts and examples
in this book from the book titled Business Analytics – The Science of Data-Driven Decision, by U Dinesh
Kumar published by Wiley in 2017. We recommend the readers to read this book along with the book by
U Dinesh Kumar (co-author of this book).
We have acknowledged the sources of data used for developing ML models using Python in respective chapters. We are thankful to the original creators of the dataset.
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