Machine Learning Competitions are events where individuals or teams develop algorithms to solve specific problems using data. Participants typically receive a dataset and must create models that perform better than others in predicting outcomes or classifying data. These competitions often take place on platforms like Kaggle or DrivenData and cover various domains, including finance, healthcare, and image recognition. Competitors are usually ranked based on their model's performance, which is evaluated using metrics such as accuracy or error rates. Prizes may be awarded to top performers, and these competitions provide valuable opportunities for learning, networking, and showcasing skills in the field of data science.