The 7 steps of machine learning are: 1) gathering data, 2) data preparation, 3) choosing a model, 4) training the model, 5) evaluating the model, 6) tuning hyperparameters, and 7) using the trained model to make predictions on new data. Each step is important, as the quality of predictions depends on the quality and quantity of data collected and how well the model is trained, evaluated, and tuned. The goal is to end with a model that can accurately predict outcomes for unseen data.