Statistical Machine Learning is a subset of artificial intelligence that leverages statistical techniques to enable machines to improve at tasks. Coursera's Statistical Machine Learning catalogue equips you with the ability to develop and apply predictive algorithms based on statistical concepts. You'll learn to build models, interpret results, and make predictions using machine learning techniques. Further, you'll gain an understanding of various statistical learning methods such as regression, classification, resampling methods, shrinkage approaches, tree-based methods, support vector machines, clustering, and more. This skill set can be used in various fields like data science, finance and banking, healthcare, retail, and more where predictive analysis is crucial.