What is the first thing that comes to mind after hearing the word Artificial Intelligence? Is it a machine that performs tasks intelligently? Or, it is a machine that performs a task with accurate data. You will find many definitions of AI but do you know what its impact on humans is? Is it good or bad?
Like AI, Augmented reality is also helping Businesses. See how big companies are using this technology.
What Is Artificial Intelligence (AI)?
The basic principle behind AI is machine learning. It is smart software that adapts skills and behavior to complete a task. We have many examples of AI-driven software. The most famous among them being the Google AI car. It is an intelligent self-driven car. Also, IBM’s Watson uses AI with neural networks to convert text to speech.
The hysteria around AI these days is ubiquitous. Name any business and you can find plenty of materials on how AI is revolutionizing its ground in the market.
AI Is Making Decisions
The hype around AI is justified in some aspects. We can see many examples where AI and machine learning are truly changing businesses and making it easy for us to do our day-to-day chores. But in other areas, the hysteria is unjustified and is completely based on expectations and the hope of coming up with a solution.
Though “artificial intelligence” is indisputably and unquestionably misunderstood and misused, it needs to be understood more deeply in order to help human progress.
People are more dependent on technology now than ever. It has both good and bad aspects. We can see the benefits of technology in every walk of life. From tweaking your photos on your phone, easing the healthcare process, helping people to make music to judging your creditworthiness, technology has been instrumental in changing our lives.
Google Assistant, Amazon Alexa, and Apple SIRI are great examples of AI. We can expect AI to grow in the future and help businesses and organizations to benefit from it. With automation through AI, the workload on employees will decrease significantly. We can expect a time in the future where a human would not have to do simple works at all. Everything will be taken care of by AI.
Good Things about AI
Despite the negativity surrounding AI, it has helped businesses both in terms of our shared learning and technical capability. Here are just some areas where AI and ML are shining today with their incredible positions in businesses and industries:
- Customers are served in a far better way
- Data Analysis becomes easier
- Decision making becomes smarter with intelligent data insights
- Fraud prevention is getting better with these technologies
Platforms that allow AI skills Accessible
Gone are those days when someone needed incredible technical knowledge into AI for any venture such as computational power, highly-skilled and specialized software engineers, as well as to statisticians. Now, various platforms such as IBM Watson, AWS, Microsoft Azure, etc., offer AI-as-a-Service and make AI skills accessible. These services require loads of effort and you may need skilled engineers to handle complex issues.
Estimations and Sorting In several Domains
What are the ideal use cases of AI and ML today? And, the answer is wherever employees spend time classifying or estimating outcomes in a definite way. For instance, manual processes require sorting and tagging at scale. Or, when you need to predict the amount of a specific fast-moving commodity product to keep in stock. Then, you will need some sort of discrete training data available. And, the algorithms to perform all those operations are comparatively quite mature now.
Present Issues with the use of AI
Hysteria Leads To Failing in Early Moves
We have many examples of businesses that invested heavily in AI starting from scratch and are currently reaping the benefits. On the other hand, we also have a list of businesses that were doomed due to the over-ambition of the owners. Here are some examples of the failure of AI-based project:
- IBM’s “Watson for Oncology” project: Aim of this project was to cure cancer. In 2013, IBM and The University of Texas MD Anderson Cancer Center came into a commitment to developing an oncology Expert Advisor system. Even after expending $62 million, the project has failed to give correct results.
- Microsft’s AI Chatbot: When Microsoft announced a new kind of Chatbot that can tweet in the Slang-laden voice of a teenager, it was never expected that it will be trolled on Twitter for their erroneous writing.
- Facebook’s Bob and Alice chatbots: These had to be shut down because computers started talking to each other in their own language.
Regulations and Privacy is highly concerned
The use of personal information with AI especially in the field of banking, education, and healthcare is very risky. Security and privacy will always be crucial factors in this regard.
The fact is Artificial Intelligence will be a boon to human beings if we use it with good intentions. It is just like a human brain that needs to be trained as we are doing with children. So, the ultimate results will depend upon the training provided to a machine by a human; whether it is “good or bad”.
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