It is projected that in this decade most of the new data will be not be generated by people, but by sensors and intelligent, embedded devices that are connected to the internet-smartphones, traffic lights, MRI scanners, smart energy grids and heavy industrial systems.
AI application in various sectors
AI applications are huge in almost every sector be it healthcare, education, business, finance, law or manufacturing. In the healthcare sector, firms are applying machine learning to make faster and better diagnoses than humans. Like IBM Watson, that is the best-known example of AI in the healthcare sector, understands human language and is efficient of responding to questions asked of it. The system searches for patient’s data in the database to form a theory which it then presents before the people. The biggest bets for AI are on reducing costs and improving patient outcomes. Chatbots, another example of AI, is a computer program that assists customers by answering their questions, help them through the billing process and aid them to schedule their follow-up appointments. In the education sector, AI would even replace teachers, by completely changing the ways in which students learn, helping them learn and understand at their own pace. Automatic grading and instant results are a few places where AI would really help.
In businesses, to better serve customers, machine learning algorithms are being integrated into analytics and CRM platforms to reveal the data. Chatbots have been embodied into the websites to provide immediate help to the users. In law, automation would save time and energy in the discovery process of sifting through documents, that gets too tiry for humans. The database would be well equipped with the taxonomy and ontology that would help startups build question-and-answer computer assistants and will be programmed to answer. The robots would be on the forefront when it comes to the manufacturing sector.
In many areas of law and economy, the impact of AI has been beneficial like validity, verification, control and security. An AI system would deeply embed in our lives be it controlling your pacemaker, your car or automated trading system or your power grid. And would do whatever would we want it to do. But there is also an aspect of safety when it comes to implementing AI and automating almost everything that we use or see. Preventing a devastating arms race in autonomous weapons is one of those and instead, the big question is what if an AI system becomes smarter than humans at all cognitive tasks? That would pose a great danger to mankind because it would undergo recursive self-improvement, triggering an intelligence explosion leaving human intellect far behind. Such a system could potentially help eradicate poverty, disease and war by creating new technologies that would be super intelligent. But few experts also have this feeling that they might have negative consequences in the future. Artificial intelligence system may intentionally or unintentionally cause great harm unless we learn to align the goals of the AI with ours.
AI is going to be the newest way we interact with all our gadgets; our cars, fridges, smartphones, front door and central heating system. We would be dwelling in an always-on world. Making our gadgets to predict our intentions and comprehend our current context is the formula for building extremely brainy products. A billion connected ‘things’ are now actively requesting support from AI platforms.
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