Artificial Intelligence is now being applied in various sectors across the world. It is very important to be informed about all the changes happening in this technology. Experts look at Artificial Intelligence as the new technology that has a lot of potential to change the way the work is done across different industries such as healthcare, education, manufacturing, etc. As more and more companies are investing on AI technology to enhance their business, it is resulting in creating more number of jobs for young professionals. According to Gartner’s recent reports, AI is excepted to create 2.3 million jobs by 2020.
Artificial Intelligence is a branch of computer science that is focused on creating machines capable of thinking and learning. Look at the popularity of devices like smartphones that rely on AI to make our life easier, smart, and more streamlined. It’s no wonder that many businesses are implementing AI technology to make their products and services more intelligent.
Artificial Intelligence is a transformative technology, but if you think the power of AI is limited just for a few industries, think again. AI is going to revolutionize every business, in every industry. As per the forbes blog, around 83% business say AI is a strategic priority for their business today. AI is here to stay, and you need it, right now!
Many business have already understood the power of AI and know how AI will help them to enhance their customer service. Google’s search algorithms are a good example of an AI-driven tool. A leading Chinese company ByteDance, one of the valuable startups, has created a product Toutiao, a content platform in China and worldwide. This app uses AI technology that offers its users personalized information feeds.
Today many tech giants, startups and social media such as Twitter and Facebook also rely heavily on AI. As per the reports provided by MarketsandMarkets, the Artificial Intelligence market was valued at USD 16.06 billion in the year 2017 and is expected to reach nearly USD 190.61 billion by 2025 .
“AI could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined.”
Another report by IDC says that by 2021, 75% of commercial enterprise apps will use AI, and research conducted by PWC estimates that China will get the most benefit from AI by 2030. While the US government moves on from its AI development plan, many other countries, such as UK, Canada, Japan, Germany, and UAE are also following and have started investing on AI technology.
Worldwide spending on Artificial Intelligence is expected by € billion in 2020. Some of the sectors such as Banking and financial sectors, manufacturing, retail sectors are expected to spend more followed by many other sectors.
Having seen all these statistics mentioned above, we can say that Artificial Intelligence is the emerging technology and is going to show its impact on most of sectors of the present world.
Now let us see how this Artificial Intelligence came into existence.
Evolution of Artificial Intelligence
By the 1950’s the world had witnessed a generation of scientists and mathematicians who thought about the concept of Artificial Intelligence. One such person was Alan Turing, who explored the mathematical possibility of Artificial Intelligence.
Turing suggested that while humans can use available information as well reason in order to solve problems and make decisions then why can’t do machine do similar kind of work. Turing 1950 paper “Computing Machinery and Intelligence” and its subsequent Turing Test, established the fundamental goal and vision of Artificial Intelligence.
Later, in the year 1956, the phrase Artificial Intelligence was coined by John McCarthy at the “Dartmouth Summer Research Project on Artificial Intelligence.” In this historic conference, McCarthy, imagining a great collaborative effort, brought together many top researchers from various fields for an open ended discussion on Artificial Intelligence.
Following this development, many research and development works were conducted over the years that led to the growth of Artificial Intelligence as we know it today. Some of the notable works as per The WIRED Guide to Artificial Intelligence were as follows.
In 1975 – Metal-Dendral, a program developed at Stanford to interpret chemical analysis, makes the first discoveries by a computer to be published in a referral journal.
In 1997 – IBM’s computer Deep Blue defeats chess world champion Garry Kasparov.
In 2004 – The Pentagon stages the Darpa Grand Challenge, a race for robot cars in the Mojave Desert that catalyzes the autonomous-car industry.
In 2012 – Research in Deep Learning spur new corporate interest in AI by showing their ideas can make speech and image recognition much more accurate.
This is brief history of how Artificial Intelligence has grown over the years and has now become the more powerful technology of the present era. You can read the post, “The History of Artificial Intelligence” to know the history of Artificial Intelligence growth in detail.
Artificial Intelligence: How it works?
Artificial Intelligence is a broad field that includes many theories, methods and technologies and a few subtopics such as Machine Learning, Deep Learning, a neural network, Cognitive computing, Natural Language Processing (NLP) and so on.
Additionally, some other technologies that support AI are Graphical Processing Units, The Internet of Things, Advanced algorithms, and APIs etc.
AI takes the help of all these available technologies. AI works by combining the large amounts of data available from different sources, processing it through algorithms that have been adjusted by the past experiences, and allowing the software to learn from patterns or features present in the data automatically.
The concept of AI has been around from few decades, but its huge growth has come about because of the following factors:
1) Vastly increased computing power.
2) Availability of large, inexpensive data sets.
3) Advancement in the Machine Learning technology.
The factors that makes AI a remarkable technology are its ability to work with speed and accuracy, and its capability of running indefinitely. These factors allow AI to process and detect patterns in massive amounts of data.
Artificial Intelligence technologies keep constantly understanding their environment, updating their perspective of reality, and updating the probability of their predictions.
Turing Test was founded by Alan Turing, is a method of inquiry in Artificial Intelligence (AI) used for determining whether or not a computer is capable of thinking like a human being.
Alan Turing introduced this test in his 1950 paper called “Computing Machinery and Intelligence” while at the university of Manchester. In this test, Turing proposed that the computer can be said to be an intelligent if it can mimic human response under specific conditions.
The Test is used to measure a machine’s ability to think and is an important concept of Artificial Intelligence.
This test comprises of an interrogation room run by a judge. There are two unseen subjects in individual terminals being judged: a person and a computer. Here, the judge makes a dialogue with both parties and tries to identify which one is the man and which one is the computer. The judge identifies this based on the quality of conversation that ensues within a designated time frame.
Turing concludes that if the judge is likely to pick either human or computer, then the computer has succeeded in demonstrating human intelligence and therefore can “think”.
This test has successfully opened the doors for more innovation and inventions in this field of technology.
Where Artificial Intelligence is being used
Artificial Intelligence is now present everywhere. It has started to show its impact on most of the sectors of the world. Looking at its advantages, many companies across different sectors are utilizing AI technology to scale up their business.
If you are tech-savvy and are using the Internet regularly, then most probably you might have used the real-time applications of Artificial Intelligence without realizing it.
Here are a few sectors wherein Artificial Intelligence has shown its impact.
1. Health care:
Artificial Intelligence has been in successful in showing its impact on the health care sector. AI applications can provide personalized medicines and x-ray readings. Personal health care assistants can act as life coaches, reminding you to take your pill, exercise or eat healthier.
Artificial Intelligence has played an important role in the success of e-commerce business. Artificial Intelligence powered by Machine Learning technologies helps these e-commerce business to predict their customer behavior based upon their past purchase history and recommend them more likely products that they can buy.
3. Financial services:
Artificial Intelligence with its unique features can help many financial institutes to provide serve their customers in a better way. Most of the financial applications analyze the past data to get better results. Artificial Intelligence, which is very good at analyzing the given data, helps these financial institutes to achieve their goals.
Manufacturing is another sector that has benefited heavily from Artificial Intelligence. Robots have been created using AI technology. Robots, being machines, are more efficient than human beings in carrying continuous tasks without taking rest. Robots have enabled the manufacturers to produce more products at a faster rate.
5. Social media:
Social media such as Facebook, Twitter, Instagram rely on Artificial Intelligence technology to provide the enhanced features to their users. Some of the features such as notifications and upgradations, are supported by AI technology. Whenever a user visits social media, their data will be stored and analyzed, and thus, they will be provided with a personalized experience.
Artificial Intelligence has benefitted a lot to the agriculture sector with its various features. As the agriculture sector is becoming digital, AI technology is emerging in this field. Now, AI helps the farmers to analyze a variety of things in real time such as weather conditions and temperature, etc.
Different types of Artificial Intelligence:
Artificial Intelligence can be classified into several ways. Let us look first at the categories of its classifications:
1) Weak AI or Narrow AI
2) General AI
3) Super AI
1) Weak AI or Narrow AI: Weak AI or Narrow AI is a type of AI which is able to perform a dedicated task with intelligence. This type of AI cannot perform beyond its field or limitations. This is the most commonly available type of AI.
Some of the examples of this type of AI are applications such as Alexa and IBM’s Watson supercomputer etc.
2) Strong AI or General AI: Strong AI or General AI is a type of AI wherein machines will have the ability to think and make decisions just like humans. As of now, no such system exists which can come under this type of AI. Worldwide, many researchers are now focused on developing machines with General AI.
3) Super AI: Super AI is a type of Artificial Intelligence at which machines could surpass human intelligence. Super AI is in still a hypothetical concept of Artificial Intelligence.
Apart from these types of Artificial Intelligence, there are some more types exists that are categorized based on functionality. They are as follows:
1) Reactive Machines.
2) Limited Memory.
3) Theory of Mind.
1) Reactive Machines: Reactive AI is a type of AI that does not store memories or past experiences for future actions. It operates completely based on the present data, considering only the current situation.
2) Limited Memory: Limited AI is a type of AI that stores information only for a shorter period of time. These machine can use stored data only for a limited period of time.
3) Theory of Mind: Theory of Mind is a type of AI that forms representations about the world, starting from thoughts, emotions and memories. This type of AI is still not developed, but many researchers are working for developing such AI machines.
4) Self-Awareness: Self-awareness type of AI is the future of Artificial Intelligence. These are machine which have their own consciousness, sentiments, and self-awareness. This type of AI still does not exist.
Applications of Artificial Intelligence: small case studies
- How Artificial Intelligence is revolutionizing Mobile Technology.
Artificial Intelligence has made drastic changes by collecting real-time data and processing it so that devices can learn on their own. Thus, AI has enabled the mobile applications to learn and improvise continuously with all the information that is exchanged among the devices and then take the required action.
Today, many people spend most of their time using their smartphones. AI plays an enormous part in how you use your smartphone. Just take a look at how two concepts, AI and mobile, are connected in reality. Many leading smartphones such as Huawei’s Mate range, Samsung’s Galaxy, Google’s Pixel phones and Apple’s iPhones all now contain special hardware, that has been designed to conduct AI tasks more efficiently.
You must read: Three out of Four Smartphones Forecast to Have Dedicated AI Processors by the End of 2022, to know how AI technology is showing its impact on mobile technology.
Few ways how AI is transforming the Mobile Industry:
- AI in camera: At present, AI is being used mostly in camera-related applications such as facial recognition, image enhancement, and many more. AI cameras use AI programs to wisely deal with images and videos.These advanced cameras help to save time by smartly performing the requisite image processing/enhancement in real-time.
- AI in voice assistant: Today’s smartphones have basic Virtual Assistant capabilities which are improving rapidly. These are built on AI, Machine Learning and voice recognition technology. Voice assistants help and service phone lines, smartphones and other places to assist users with tasks such as listening to an audiobook, adding items to shortlist and playing music, etc.
- Identification of images: Artificial Intelligence allows the system to recognize images, offer labels and ways to group them in labels.
2. Impact of Artificial Intelligence on Agriculture sector
Agriculture and farming is one of oldest and important professions across the world. As the world’s population is continuously increasing, people need to get creative and more efficient about how we farm, using less land and produce more crops. Over the years, various technologies are being introduced in the agriculture sector in a way that gets more yield with available land and resources.
Artificial Intelligence is also showing its impact on the agriculture sector. This technology has brought in many features that are helping to yield more crops, monitor soil and growing conditions, organize data to farmers, and improve a wide range of agriculture-related tasks in the entire food supply chain.
You must read: The 6 Most Amazing AI Advances in Agriculture, to know how AI technology helping the agriculture sector.
Artificial Intelligence also helps to agriculture sector from detecting pests to predicting what crops will deliver the best returns. The usage of AI in this sector is increasing continuously. More and more people are realizing the impact of this technology and how it will help them to yield more crops in their fields. As per the reports, in 2017, the global market for Artificial Intelligence in agriculture was valued at around US $545 million, and is predicted to reach nearly US $ 2,075 million by 2024. The report also says that the market will rise at a growing CAGR of 21% throughout the forecast period.
3. Impact of Artificial Intelligence on Health Sector
Artificial Intelligence is playing an important role in improvising healthcare sector. There is substantial potential to transform the health care with the help of this technology. As per the reports given by MarketsandMarkets, the AI in healthcare market is expected to grow from USD 2.1 billion in 2018 to USD 36.1 billion by 2025 at a CAGR of 50.2% during the forecast period.
The huge availability of Big Data, growth in the number of cross-industry partnerships and collaborations are helping the growth of the Artificial Intelligence market.
Artificial Intelligence help this industry in many ways. It can help in carrying out repetitive tasks. Some of the tasks that can be done faster and accurately by robots include x-ray scans, CT scans, analyzing tests, and data entry etc.
Read this article: Five unique ways AI is being used to promote health to know more about the impact of Artificial Intelligence on healthcare sector.
Apart from this, AI technology can use Natural Language Processing (NLP) to understand user’s demand, followed by knowledge management, to offer an answer.
IBM is among the leading companies in the AI in healthcare market. Some of other companies are also involved in this industries such as NVIDIA(US), Intel(US), Google(US), Microsoft(US), AWS(US) etc.
Image source: Marketsandmarkets
North America is one of the leading contributors to the overall AI in healthcare market during the forecast period. APAC countries closely pursuit the growth of North America and are expected to register the second-fastest growth rate.
4. Inclusive of Artificial Intelligence technology in Education sector.
Artificial Intelligence in education market is gaining a lot of importance due to high growth in the usage of smart devices and increase in the digitalization across the globe. As per this Global Market Insights report, AI in education market size estimated at over USD 400 million in 2017, and is anticipated to grow at a CAGR of more than 45% from 2018 to 2024.
With the increase in the implantation of AI technologies in education sector, we can see the development of a new way in teaching and learning process.
AI uses the technologies such as Deep Learning, Machine Learning and advanced analytics to monitor the students’ learning process. This helps the students learn at their own pace through personalized learning and monitoring in every course offered to them. It also helps in enhancing the teacher’s knowledge level and experience.
Read this article: 10 roles for Artificial Intelligence in Education to know how AI technology is showing its impact on education sector.
AI helps the teachers to be aware of any gaps that sometimes exists in their lectures and educational materials that can leave the students confused about certain topics. When wrong answers are submitted to homework assignments by a large number of students, the system alerts the teacher and gives future students a customized message that offers hints to correct answer.
Now, with using AI systems, students can learn from anywhere in the world and at any time. The role of AI is increasing significantly and bringing changes in the education sector.
5 interesting facts about Artificial Intelligence
Now let us see some very interesting facts about Artificial Intelligence:
1. Since 2000, the number of AI startups have increased by 14 times: With increase in the investments in AI startups, the number of AI startups has increased by 14 times since the year 2000.
2. Artificial Intelligence technology is not that expensive: Adapting AI-enabled system for enterprise tasks can be an expensive undertaking. But small business can rely on AI enabled systems. There are plenty of open-source tools available that help these small business to take help of AI enabled system at a relatively lower cost.
3. An Artificial Intelligence Machine can repair itself: Now Artificial Intelligence machines can repair themselves. Using algorithms based on trial and error, the robots can identify what’s wrong and how to repair themselves
4. Already 77% of the devices we use feature AI: Only 33% think that they use the technology that is featured by AI but actually, the fact is that around 77% of the devices that we use contain one or another form of AI.
5. In 2017, Netflix saved $1 billion by using Machine Learning:
Netflix implemented Machine Learning algorithms into its system, which now automatically recommend personalized movies and TV shows to subscribers.
Today, Artificial Intelligence has become one of the most discussed terms in the IT industry. Artificial Intelligence, along with other technologies such as Machine Learning, Deep Learning, and other related ones, is revolutionizing the various sectors of the world and is also responsible for the creation of a huge number of jobs for IT professionals.
We hope this blog is successful in providing some valuable information about Artificial Intelligence to our readers. With all the above information on Artificial Intelligence, we would also like to share with you a link of an online education platform that contains all the valuable courses on this technology that can be very helpful to you.
If you think this guide has been successful in helping you find relevant information, we request you to share it with your circles, so that it can reach those who also want to know about Artificial Intelligence.
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