How can the various machine learning algorithms be classified/summarized according to the problems they solve?

Answer by Franck Dernoncourt:

Let me add two pictures to Paul Hobbs answer, taken from (Yaser Abu-Mostafa, Caltech):

Big picture of what learning is:

Synopsis of the main machine learning techniques:

The main classification of machine learning models according to the problems they solve is supervised learning  vs. unsupervised learning, but it gets pretty messy once you try to classify models at a finer level.

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