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Is knowledge of algorithms compulsory to learn ML?

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If you want to learn machine learning and try to implement it on very large datasets, then YES.

In order to manage these datasets, you have to optimize your code, which is learned in algorithms and you will have to smartly initialize your data, which you will learn through data structures. Learn the math behind it, learn what effects changes in parameters in ML algorithms do to your results, play with them they are beautiful

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