“By far, the greatest danger of Artificial Intelligence is that people conclude too early that they understand it.” – Eliezer Yudkowsky
Whenever the term Artificial Intelligence comes, the minds of the people start running to The Terminators. Funny Right, we created these machines and now they are going to destroy mankind and the new era of slavery will begin.
Before our imagination takes a complete U-turn, let’s take a pause and understand that what exactly is Artificial Intelligence. Is it so dangerous? So let’s begin from the basics.
AI or Artificial Intelligence is the advanced technology developed humans to increase efficiency and productivity. So tell me, do you still think these machines developed by us will beat us and rule over us. IBM’s CEO once quoted the following words in her speech:
“What is vital is to make anything about AI explainable, fair, secure and with lineage, meaning that anyone could see very simply see how any application of AI developed and why.” – Ginni Rometty
Introduction
Artificial Intelligence or AI is Known as the machine intelligence in basic terms or you can say, it is a built-in capacity of a machine to resolve a problem or issues. Now a day’s, various technologies use AI for better and more accurate results.
The various examples of AI are drones, chatbots, robots and more. Alexa and Siri are the perfect live examples of chatbots. You speak to them and they have solutions for your queries.
Types of Artificial Intelligence
Artificial Intelligence can be categorized into three types:
- Analytical
- Human Inspired
- Humanized Artificial Intelligence
Analytical AI means the decisions are made using the experience. It just has only characteristics consistent with cognitive intelligence. The perfect example of Analytical AI is Chatbot. Whereas, the Human-Inspired AI has both the elements, i.e. cognitive and emotional intelligence. It means the machines will have an understanding of human emotions. Another type of AI shoes all the types of competencies like emotional, cognitive and social intelligence. This type of intelligence is self-conscious and self-aware while interacting with others.
AI research is also defined as the study of intelligent agents that evaluates its environment and takes actions that its chance of successfully achieving its goal. It can also be interpreted as, a system can understand the data and decipher it, then learn from it to achieve its defined task. It is similar to how a person used to learn from its past mistakes and avoid doing the same in the future.
Impact of AI in Major Industries
AI has gained popularity and is successful in increasing profitability. It enhances the production rate and streamlines the sales process. It gives huge advantages over traditional automation. The three channels through which AI reverses the cycle of low profitability are:
- Intelligent Automation
- Innovation Diffusion
- Labor Capital Augmentation
The four sectors where Artificial Intelligence is advancing are:
Healthcare
Various digital technology companies like Apple, Google, IBM, and Microsoft are now entering the healthcare industry. They are using AI to empower the physicians so that they can provide better and faster health services.
AI helps in medical imaging, drug discovery, robotic surgery and much more.
Automobile
Now, this appears to be interesting.
In movies, we have seen a self-driving car and use to think it as fiction. This concept is not far away when you too will own such a car. A few automobile companies like BMW and Toyota have begun to work on such technology. More companies like Tesla, Ford, Mercedes-Benz, and Google are investigating billions in such technology. It looks like your dream of enjoying a ride in driverless cars are not so far.
Manufacturing
This industry has the biggest impact due to AI. It plays a vital role in improvising Enterprise Software. It seems that robots have more or less completely taken over the manufacturing part of the industry. From maintenance and optimization to interpreting the data, the list goes on.
Finance
Algorithmic Trading is now a rapid trend which has led to the success of AI Automation.
Not only, machine learning is helping in cutting down many mundane tasks like interpreting commercial-loan agreements but also handling such matters in seconds. It is also helpful in insurance sectors as well where chatbots have upgraded the customer experience to a notch.
This story so far has been fascinating and has been a hell of a ride. But now, it's time to stop here. It's not a goodbye but a promise to come up for more information on my next blog regarding AI. Till then sit tight with fingers crossed.
Toodles
