Transcript
Since we’ve mentioned machine learning, it’s important to briefly touch on deep learning. We won’t spend much time on deep learning here, but because many advances in FinTech will be built on deep learning moving forward, it’s worth explaining, even for just a few seconds.
Deep learning is basically an enhanced form of machine learning that uses algorithms that emulate the neural network of the brain—basically how our brains learn—to help the algorithm learn through a progression of layers that get “deeper” and deeper as more data is incorporated. Like machine learning, deep learning can be supervised, unsupervised, or reinforcement-based.
If you weren’t familiar with those terms before, hopefully, they make sense a little more sense now, and hopefully you also better understand the relationship between AI, Machine Learning, and Deep Learning.
Hopefully, what you’ve also noticed is that these forms of AI all rely on massive amounts of data, which is why our discussion of data at the beginning of the book is important. Data truly is the fuel that will power AI-backed FinTech innovation.
