Machine learning is the automated process of building new models. It’s called “learning” because it involves data streaming into a system which contains existing data, allowing those two sets of data to combine, recognize new patterns, adjust assumptions, and make something new. In other words, data that learns from data.
The term "Machine Learning" was coined in 1959 by Arthur Samuel and is broadly classified into four distinct types of learning.
Similar to human learning, the goal of machine learning is to generalize from learned experiences. A machine learning model attempts to evaluate a new input and draw conclusions for an intended output. The results can be evaluated automatically, or as part of a human-in-the-loop process, to continuously improve the model over time.
In general, the secret to successful machine learning is to continuously feed data into an algorithm. Many exciting advances in machine learning have come from applying greater quantities of data and processing power to pre-existing algorithms, rather than creating brand new algorithmic approaches.