MLaaS (machine learning as a service) This concept is neither new nor rocket science, nor is it unknown. It’s a bundle with a wide range of services and solutions offered by cloud service providers. Some of the offerings are APIs for data processing, visualizing the data, image captioning and recognition, predictive analytics, natural language processing, and many more. Deep learning offerings are now also extended under this umbrella. In today’s time, there are hundreds of companies in this domain that are working as service providers for MLaaS.

Machine Learning in your pocket

Machine learning is involved in so many services and applications as of today, and we may not even be aware of them or most of them. In the areas of FinTech, Medical, Law, and almost every service that needs or has repeated actions or steps every time has made use of it as a service, knowingly or unknowingly.

Feature engineering is essential to applied machine learning. Using domain knowledge to strengthen your predictive model or prescriptive model of prediction can be both difficult and expensive. To help fill the information gap on feature engineering, MLaaS hands-on can teach beginning-to-intermediate data scientists how to work with this widely practiced phenomenon.


I came across the assertion that each bootstrap sample always contains, on average, approximately 2/3 of the observations. I did not know the secret and never understood that the chance of not being selected in any of the draws (say n) from samples (say n) with replacement as. Screen Shot 2017-09-09 at 8.41.47 PM

I never knew that each bootstrap sample or bagged tree would contain, on average, approximately 2/3 of the observations.

If this was built and given as part of some library in a package to justify my argument, which is machine learning as a service (please comment if you know this), then this would have been much easier. Super swift help and understanding of how unsupervised feature learning works in the case of deep learning for images

How to start your Journey

If you understand basic machine learning concepts like supervised and unsupervised learning, you should be ready to get started. With MLaaS, that will not only allow you to perform your task but will also give you the chance to learn how to implement feature engineering in a systematic and principled way.

MLaaS can help to practice better data science for anyone. As someone said, bias-variance tradeoffs and debugging models can be a very useful learning curve and the art of figuring out if you need more instances or more dimensions for your model. In the same way, MLaaS can be a free gift to all newcomers and can provide a foundation for every system to solve, learn, and work. Don’t worry, AI OS are not far away, which will be the best combination of OS based on AI and MLaaS built in on top of MLaaP (Machine Learning as a Platform).


Explaining or gaining common practices and mathematical principles to help engineer features for new data and tasks. Personal biometric data, i.e., measurements of heart rate levels, blood sugar levels, blood pressure, etc. What we call “data” are observations of real-world phenomena. For instance, stock market data might involve observations of daily stock prices.

MLaaS and Feature Engineering

MLaaS helps and features; “feature engineering” as it’s a very important and integral part to tell us how to do well. MLaaS allows the use of common methods for different data types, including images, text, and logs. Also, understanding how different techniques such as feature scaling and principal component analysis work can be helpful. MLaaS is coming to take its place in our day-to-day work lives, knowingly or unknowingly.

Clearly, the MLaaS platform should, if not already, cover use cases like data modeling and data preprocessing, as this task is the most time-, attention-, and focus-consuming, and one small mistake is enough to ruin the fun. This will help and provide better productivity. Experimentation is another task that can come up as a use case due to the nature of machine learning, which is all about learning and experimenting.


Feature engineering, as we spoke about earlier here, This engineering takes up most of the time and cost for developing algorithms, applications, and models. Most of the time, these are common, so why not have an off-the-shelf arrangement? i.e., a REST interface as a stand-alone application.

Data Ready MLaaS

MLaaS is expected to provide readily available data sets for specific domains. with highly tuned components for solving specific problems in the required area of expertise in any particular domain. This can be a perfect convergence of ability and demand, and remember, we are in the era of cheap computing, memory, and processing power, so another reason for MLaaS to come from the clouds.

Getting predefined templates and dashboards for our work model and required intelligence like payment intelligence, info-security intelligence, potential spending and earning intelligence, etc. Where flexibility in choosing different dashboards with different themes, looks, and feels and freedom in choosing the algorithms All algorithms are different and can provide different results on the same data. So the choice of the correct algorithm is key here. Normally, it’s recommended to choose 2-3 algorithms to compare results.

Now that we have talked about applications, APIs, off-the-shelf arrangements, dashboards, cheap or low-value hardware, and clouds, it is clear that open source is democratizing our data, which companies anyway don’t manage (most of the companies, not all the companies) as they manage their money. I read this joke on the internet: “No data in, no science out,” but unfortunately, it’s the truth of today’s time. Machine learning and predictive techniques impact every major industry.

Automation to get a boost with MLaaS

It may soon be an essential line item in most companies’ budgets. MLaaS these days provides full automation of essential yet time-consuming activities in predictive model construction, such as fast variable selection, variable interaction modeling, and variable transformations or best model selection.

MLaaS is profiled as a collaborative data science platform that comes with all the tools most data scientists would need, along with a visual interface. IoT is playing a key role in shaping FinTech and MFS, along with other technologies like artificial intelligence, machine learning, big data, data science, cloud, and many more. How does this solution present help and support for “mobile financial services”? MFS is a kind of bundle for financial services solutions. This bundle includes mobile payments, money, banking, commerce, and many more.

Books + Other readings Referred

  • Research through Open Internet – NewsPortals, Technology research papers and conferences.
  • AILabPage (group of self-taught engineers) members hands-on lab work.

Points to Note:

All credits, if any, remain with the original contributor only. AI—a bundle of emerging technology—is here and is powering every single business. AI is going to disrupt every aspect of business life. When AI meets quantum computing for a friendly handshake, that explosion would be a blessing to see. Number stats have been taken from Webroot.

Feedback & Further Question

Do you have any questions about AI, data science, quantum computing, deep learning, or machine learning? for FinTech or information security. Leave a comment or ask your question via email. I will try my best to answer it.

Sign-tConclusion – At the end and at heart, we all know the dirty secret: no matter how good the algorithm is or how good I am as a data scientist, no model can perform magic if direction, intention, time, and goal are not set. Combining machine learning with other IT services that can take the feed directly and act on the torrent-like software for incoming data might end up with the best long-term gains, returns, and customer base. Whoever has the best sense for choosing, organizing, and uniqueness to combine machine and human skills outlook from the services to collect, clean, and label data sets, there’s a market for them that’s just getting started, and millions, yes, billions of dollars are waiting for them.

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Posted by V Sharma

A Technology Specialist boasting 22+ years of exposure to Fintech, Insuretech, and Investtech with proficiency in Data Science, Advanced Analytics, AI (Machine Learning, Neural Networks, Deep Learning), and Blockchain (Trust Assessment, Tokenization, Digital Assets). Demonstrated effectiveness in Mobile Financial Services (Cross Border Remittances, Mobile Money, Mobile Banking, Payments), IT Service Management, Software Engineering, and Mobile Telecom (Mobile Data, Billing, Prepaid Charging Services). Proven success in launching start-ups and new business units - domestically and internationally - with hands-on exposure to engineering and business strategy. "A fervent Physics enthusiast with a self-proclaimed avocation for photography" in my spare time.


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