Artificial Intelligence has emerged as the next big thing in technology. Organisations all across the world are developing game-changing technology- Machine Learning and Artificial Intelligence. AI systems exhibit at least some of these human intelligence-related behaviours: reasoning, planning, problem-solving, learning, knowledge representation, motion, perception, and manipulation, as well as, to a lesser extent, creativity and social intelligence.
What is AI?
(AI) Artificial Intelligence is the ability of a computer or a machine-controlled robot to accomplish tasks generally associated with human beings. The phrase is usually referred to as the endeavour of producing systems with human-like cognitive processes, such as the ability to reason, generalise, discover meaning, or learn from experience.
Artificial Intelligence (AI) automation is the most complex degree of automation. With the introduction of AI, computers may “learn” and make decisions based on previously analysed scenarios. In customer service, for example, virtual assistants powered by AI can improve customer engagement and experience while saving cost at the same time.
Presence of Artificial Intelligence
Artificial Intelligence is having an impact on the future of almost every human being and every industry. Artificial Intelligence has been the primary driving force behind developing big data, IoT, and robotics. It will continue to be a technological innovator in the foreseeable future.
From self-driving cars to Alexa to SIRI, Artificial Intelligence (AI) is progressing rapidly. While science fiction frequently depicts AI as humanoid robots, AI can refer to anything from IBM’s Watson to Google’s search algorithms to autonomous weapons. AI can help decrease and predict climate change risks, allowing us to make a difference before it’s too late. And all of these advances are just the beginning; there is much more to come. Virtual assistants have already entered our daily lives, saving us time and energy.
Some industries are just getting started with AI, while others are experienced in this field. Both have a long road ahead of them. Regardless, the impact of AI on our daily lives is difficult to ignore. Let us look at some examples:
- Healthcare: In the sphere of healthcare, where AI is still new, pharmaceutical development is sped up and streamlined, diseases are more promptly and reliably identified, virtual nursing aides, watch patients, and big data analysis aids in providing a more tailored patient experience.
- Manufacturing: AI-powered robots assist humans in a restricted range of tasks like assembly and stacking, while predictive analysis sensors keep equipment working properly.
- Education: Textbooks are being digitised using AI, early-stage virtual tutors assist human teachers, and facial analysis analyses students’ emotions to help recognise who is struggling or bored and better tailor the experience to their specific requirements.
- Media: Journalism is also making use of AI and will continue to benefit from it. Bloomberg uses Cyborg technology to help users quickly understand complex financial reporting. The Associated Press publishes 3,700 earnings report pieces per year using Automated Insights’ natural language skills, which is around four times higher than in the past.
- Transportation: Although it may take a few years, self-driving cars will transport us from place to place one day.
- Cyber Security: Many corporate leaders are concerned about cybersecurity, especially given the expected increase in cybersecurity incidents in 2020. During the pandemic, attacks increased by 600% as hackers targeted people working from home, less secure technological systems, and Wi-Fi networks. AI and Machine Learning are useful and important technologies for detecting and forecasting cybersecurity threats. AI will also be a valuable asset for financial security, as it can process vast volumes of data to predict and detect fraud cases.
- E-commerce: In the future, AI will play a critical role in all aspects of e-commerce, from user experience to marketing to fulfilment and distribution. We can expect AI to continue to drive e-commerce in the future, particularly through chatbots, image-based target advertising, shopper customisation, and inventory automation.
- Customer Service: Google is working on an AI assistant that can make human-like phone calls to schedule appointments at, say, your local hair salon. In addition to words, the technology understands context and nuance.
Future of Artificial Intelligence
Artificial Intelligence is now properly termed narrow AI (or weak AI) because it is designed to execute a specific goal (e.g., only facial recognition, only internet searches, or only driving a car). However, many researchers’ long-term goal is to develop generic AI (AGI or strong AI). While narrow AI may outperform humans in a specialised skill, such as chess or problem solving, AGI would surpass humans at practically every cognitive task.
There is hardly any significant business that modern AI hasn’t already influenced. Specifically, “narrow AI,” which performs objective functions using data-trained models, frequently falls into deep learning or Machine Learning categories. In recent years data gathering and analysis have increased significantly due to the proliferation of linked devices, robust IoT connectivity, and ever-faster computer processing.
The next decade of Artificial Intelligence appears to be quite bright and dramatic. For starters, you will notice an increase in the use of this technology in daily life. Here are a few trends to look out for in the next ten years.
- When it comes to businesses, monitoring and re-evaluating existing processes helps in future construction. Artificial Intelligence’s future scope has cleared the way for smart monitoring, faster feedback, and improved business lines. Robotic process automation will shorten the time required to accomplish repeated operations, making the strategy less burdensome and more successful.
- Gaining a good understanding of your consumers’ minds can help you get insights and make real-time decisions to improve their experiences. AI-powered mobile apps and other mediums will assist you in determining what users desire. Data-driven insights result in more personalised solutions and better engagement.
- There will be a more number of people using and supporting AI solutions. As a result, the interactions with the Artificial Intelligence machines will be in sync. The collaboration will result in successful engagements and increased exposure. Future devices will have access to more data from which to learn, allowing them to make better decisions in the long run.
- Those businesses that have not yet expressed an interest in AI solutions will begin to do so in the coming years. This demonstrates the potential for more competition and improved business operations.
Some Final Words
According to a new World Economic Forum (WEF) report titled “The Future of Jobs 2018,” algorithms and machines in the workplace are predicted to produce 133 million new jobs while displacing 75 million by 2022. This suggests that the advancement of Artificial Intelligence might result in 58 million net new employment over the next few years.
Obtaining AI certification would provide you with an advantage over other candidates in this industry. There are institutes in India and worldwide that offer Machine Learning and Artificial Intelligence courses and certifications. Check out the several Artificial Intelligence online courses that can help you learn the foundations or the basics of the subject and give you a kick-start in your AI journey.
