10 Ways in which AI will impact the Future
"The pace of progress in Artificial Intelligence is incredibly fast...you have no idea how fast - it is growing at a pace close to exponential. The risk of something seriously dangerous happening is in the five-year time frame. 10 years at most."
- Elon Musk
"We are going through an important shift from a mobile first world to an AI first world".
- Sunder Pichai
It is no denying the fact that AI will impact the future of the world. No body has thought of the fact that we would create the technology which could be built on the similar lines of the Cognitive Ability of the most intelligent species of the world. By definition Artificial Intelligence is the science which is involved in creating intelligent machines that would work and react like humans in contrast to natural intelligence displayed by humans and other animals.
Precisely, we can say, the term Artificial Intelligence is applied when a machine mimics the "Cognitive" functions that are more normally associated with Human Minds such as "Learning" and "Problem Solving".
To look more closely, following would be the 10 ways in which AI will impact the world and our Future:
1. Employment :
The Global Management Consulting Firm McKinsey Global Institute wrote that 60% of all occupations have at least 30% of activities that technically are automate-able. And in the report on Artificial Intelligence and economy the U.S. White-house estimates that due to upcoming AI Technologies 47% of the U.S. jobs are at risk of being replaced by the same.
2. Robotic Workforce:
It is not new, when we hear that most of the human workforce would be replaceable due to the more robotic technology implementation, when much of the labor-intensive work in assembly lines of factories would be done by AI programmed robots. For the companies, it would help in lowering down their cost of hiring workers, and reducing outsourcing and offshoring.
China has even started signing (MoU) with the government to employ robots.
3. Auto-Manufacturers will launch self-driving cars:
Fully automated cars would be the future we will all look forward to. Tesla has already became the first one to launch a self-driving vehicle. Upcoming would be Audi A8 which would not require any driver input. In 2018, Cadillac and Volvo would also make their footprints in the similar categories.
4. Consumers communicate directly with technology:
It's only last year when Amazon sold it's Amazon smart speakers and the sales were estimated at over 20 million. If we realize the ever increasing invade of Google Home and Apple Air pod; we will get to know how fast we are learning to directly interact with the technology through voice-commands.
In all, Consumers will feel more comfortable in interacting with smart assistants integrated into their Computers, Smartphones, and even televisions.
5. AI in Medicine:
Medicine world in the US are looking forward to at implementing and approving AI in clinical setting. The advantage would be that it will help in early and better detection of diseases and ailments and with more reliable accuracy. Recently, a Swiss based company declared their partnership with Alibaba subsidiary health group to develop AI assisted screening and diagnostics.
6. Content will be created using AI:
Publishers will also get assisted help in getting their written content turned into video content through AI Video Production, which is made easy by Wibbitz Software-as-a service platform.
7. Expected Big Market for AI:
Forrester Research expects the market for "cognitive Computing Technologies" to be worth $1200 Billion by 2020. While another market estimate from Bank of America expects "Artificial-Intelligence based systems to be worth $70 Billion in 2020 combined with $83 BN for Robots. So, in their sizing and price the global GDP will have increased by 14% ($15.7 Trillion) in 2030 just because of adoption and implementation of AI across various industries.
8. AI Guiding Knowledge Workers:
It would be of a considerable help when AI technology will aid employees, especially those in knowledge work.
Today, with the aid of tools like Gong, Chorus and Jog are able to record calls made by sales and customer service representatives.
9. Precision Farming:
While the world's population is expected to increase in the next three decades, the food production will suffer. But with optimum implementation of AI farmers would be able to better keep a track on the farming methods and to also foresee what their crops and farms are going to potentially need in the upcoming years. This could be done by capturing real-time images and through sensors so that the farmers get to know when their crops can go wrong.
10. A Grip over Cyber-security:
In a shocking estimate of 2015 there were around 707 Million Cyber-security Breaches. We all know that internet is prone to threats like security threat, identity threat, so to tighten up the grip AI based solutions can protect us from the preceding threats so as to increase more faith in the system.