As AI evolves, real-time data analytics is becoming the standard for businesses seeking to remain relevant. This drives the interest in AI tools and techniques that increase analytical efficiency. One of these tools is Automated Machine Learning.
In our blog post “What is AutoML and How Can it Boost Your Business Analytics,” we have introduced the idea of Automated Machine Learning and its applications. Hereinafter, let’s expand on the arguments and implications surrounding it. For this purpose, we have compiled a comprehensive list of the pros and cons of Automated Machine Learning.
AutoML has several advantages, a few of which we will discuss below. It can help you save resources, reduce your time on the market, as well as improve performance and increase accessibility by your team.
Automation can be viewed as a gadget that accelerates the workflow of seasoned data scientists and allows more time for solving complex and innovative problems as opposed to performing rote tasks. But most importantly, it maximizes the data mining capacities of a business by making the machine learning process tenfold more efficient. Ultimately, less time and capital are required to build a model with AutoML.
Currently, there is an acute shortage of specialists who possess the depth of knowledge and skill required to handcraft ML models. Considering this, it is oftentimes more affordable and logical to outsource your AI solutions and make a one-off investment into an AutoML tool, rather than maintaining a team of data scientists in-house.
Boosting the speed of model research, automation cuts down the time to market for model implementation. Although some may argue that AutoML models rank lower than hand-tuned ones, they are no inferior in performance to conventional machine learning models. Moreover, when it comes to competition, it is crucial to get your foot in the door first and fast, then adjust later.
An AutoML system creates many model pipelines with different algorithms and returns the best results. Automation also eliminates the chances for human error, addresses human bias, reinforces the replicability of the analyses, and promotes collaboration.
Automation thus enhances not only the speed but also the quality of the research, improving both the efficiency and the effectiveness of machine learning model development.
An automated machine learning platform can be operated by your data or business analyst or anyone, irrespective of their level of data expertise. Thus, businesses don’t have to hire additional specialized staff or spend money on employee training.
Now that machine learning is automated, as well as more resource-efficient, more companies can consider using it to attain their business goals.
Let’s take a look at the flip side of the matter to weigh out all the pros and cons of ML automation.
Before choosing the best algorithm, an Automated Machine Learning system may try nearly every model out there. This process consumes a substantial amount of computational power. Conversely, in the manual version of the process, the data scientist initially eliminates many certainly unsuitable algorithms from consideration.
Nevertheless, not all AutoML platforms work with the multi-pipeline principle, and often, the available processing capacities suffice for machine learning operations.
AutoML frameworks are set up to accommodate most datasets, but this generalization may still leave out datasets that are uncommon in one way or another. As a rule, Automated Machine Learning does a pretty good job in most cases, but for certain problems, it may not be flexible enough to match the precision and the persistence of the manual approach.
Nonetheless, this statement is a generalization on its own, as everything depends on the issue and the dataset, as well as on the portions of the model development we are executing through AutoML. Furthermore, machine learning automation continuously advances and adapts to cover the gaps of inflexibility and facilitate more tasks involved in model building.
Model explainability is one of the most important points to address when considering the pros and cons of machine learning automation.
Machine learning, as a problem-solving or decision-making tool, does not exist in a vacuum but should be seamlessly integrated into business processes. It is imperative to ensure that AI solutions are translated into comprehensive terms for the stakeholders, who should know not only what to do, but also why. For this purpose, model explainability is key. Machine learning transparency enables replication, collaboration, and knowledge transmission.
Due to a knowledge gap, it may be difficult for AI engineers to explain to non-experts how an algorithm delivers an outcome. The latter coupled with poor model interpretation creates a vague understanding of AI processes and generates distrust towards their results and the technology. This phenomenon is called the “black-box effect.” AI has been long subject to black box criticism.
One of the opinions is that AutoML reduces black box criticism by making ML and AI available to anyone regardless of their data competence. With the user-friendly interface and buttons labeled with natural language, technology may seem less mysterious.
However, if we tackle the actual explainability of AutoML processes happening behind the clicks, automation may as well aggravate the black-box effect. Depending on its level, many processes can be hidden in the background of the Automated Machine Learning workflow, which introduces more possibilities for bias. Hence, an AutoML user should be especially careful to account for any domain-specific or dataset-related biases.
With AutoML, model development might get so easy, fast, and accurate that we might not even need to understand what the system does or why it brings about this result. In fact, if we lose track of model interpretation, we may easily jump to the wrong conclusions. To put it short – the higher the level of automation, the more opportunity for AutoML to exacerbate the issue of a black box model.
But fear not. This is where data scientists come into play.
There is a common misunderstanding that machine learning automation might replace data scientists. If we underestimate the role of data professionals, we run the risk of losing all model commands and explainability. A human should remain in the loop of model development to keep track of its logical chain, maintain control, assess, and oversee the process without having to perform boring repetitive tasks.
To summarize all the pros and cons of AutoML, at least for now, it cannot serve as a replacement for human knowledge; thus, the best practice would be achieved with the human–machine (AutoML) collaboration.
Besides custom modeling solutions, Plat.AI offers a fully operational Automated Machine Learning software that creates real-time models and estimates outcomes based on the uploaded data. It requires no coding experience and offers seamless integration with current lending and marketing data sources.
Our software offers:
We are quick, efficient, and secure. At Plat.AI, we work hard to enhance your team’s analytical capabilities and provide you with the best-in-class AI solutions.