“[AI] is going to change the world more than anything in the history of mankind. More than electricity.”—AI Oracle and venture capitalist Dr Kai-Fu Lee, 2018
Artificial Intelligence or AI is affecting and will influence the future and growth of almost all the major sectors of the economy. It is proving to be the main driving force behind the technologies that are emerging like robotics, big data, and the Internet of Things (IoT).
What is Artificial Intelligence?
Artificial Intelligence is any activity that a machine can perform beyond the abilities of human beings to think and act. Most importantly, the machine requires human intelligence for proper functioning. Best AI Companies are investing approximately $20 billion dollars (taken collectively) on various products that are AI-driven every year. Apple, Google, Amazon, and Microsoft are spending on developing, creating, and improving their products and services.
Maybe MIT is shelling out more than $1 billion on a new seat of learning that will offer curricula in computing with an emphasis on Artificial Intelligence.
The Machine Learning applications are varied, however, the idea that few hold that lingers large about AI replacing jobs may not be an immediate threat as yet.
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How are different sectors embracing (AI) Artificial Intelligence?
Check out these facts-
It will not be long when we will be able to see autonomous cars that will help us to travel from one place to another.
Artificial Intelligence in Healthcare
More and more doctors and health institutions are using technologies related to machine learning and artificial intelligence in improving survival rates. Accessing data, planning treatment methodologies, and carrying out R&D activities with the aid of AI is fast catching up. Top AI companies are already investing in this field.
Placing equipment, assembling, stacking, and carrying out a range of manufacturing-related activities are operated and controlled with the help of AI and other machine learning applications. For instance, in pharma manufacturing an electronic batch record (EBR) system has been beneficial by replacing paper workflows with computerized ones and accelerated compliance processes.
Running a media house or working with a media house also means decoding and deciphering complex financial reports. It requires expert eyes and analytical skills to know the content of the same.
Bloomberg employs Cyborg technology to decode complex financial documents and reports. Aside from the above, there are other sectors that are equally investing and using AI technology.
AI and Blockchain
PwC has predicted that by the year 2030, as much as $15.7 trillion will be pooled into the world economy and AI is the attributing factor. Also, due to the increase in the world economy, the global GDP will manifest an increase by as much as 14%.
Gartner’s prediction states that by the year 2030, the business value that will be added due to blockchain technology is anticipated to be $3.1 trillion.
Blockchain is a ledger that is decentralized and is a storage of encrypted data. And AI is the driving force that will allow this to happen.
Although, AI and Blockchain technology are parallel traits, yet to get the most out of their combination for optimum benefits, is still a part of the research.
Dangers of AI
Just as AI or Machine learning offers a wide range of beneficial aspects, the dangers of AI cannot be overlooked.
Security of data
Generally, enterprises have the responsibility to generate data. These data already are subjected to data abuse. There are many tools that a company stalwarts use to dominate the show. These companies earn huge profits from their business ventures. This causes the so-called “data lakes” to remain open and vulnerable. So, the fear of data mishandling continues at the hands of the more powerful.
Decrease or weakening human cognitive abilities
Artificial intelligence or AI helps human beings to attain great profits. However, the reverse might be true too. The biggest fear is the redundancy of human beings or a decrease in human cognitive abilities. This will result if there is too much dependence on machine learning abilities.
Loss in the ability to think and act
Since machine learning and artificial intelligence are superseding human beings in the ability to think, act, and take decisions, it might lead to humans losing their capacity to sense, think, and analyze.
However, these drawbacks or the dangers are within the ability of human beings to control and alter.