The term "machine learning" refers to a subset of artificial intelligence that enables systems to learn from data and improve their performance over time without explicit programming. Machine learning algorithms identify patterns, make predictions, and adapt based on input data, allowing for automation in various tasks. It encompasses different techniques such as supervised learning, unsupervised learning, and reinforcement learning. Applications of machine learning span numerous fields, including finance, healthcare, and marketing, where it optimizes decision-making processes and enhances user experiences through personalized recommendations.