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Promising Future Of Artificial Intelligence & Machine Learning

Is the future of Artificial Intelligence as promising as it is touted to be? Let’s do a reality check and understand if we are on the right trajectory where Artificial Intelligence (AI) and Machine Learning (ML) are concerned.

Food for thought…

Have you ever imagined wars, fought without armies? And the robots replacing the humans in the war zones using their intelligence to take the necessary actions?

Chatbots have already taken over the help desks. Automated operations powered by AI are replacing front offices of Banks and other services. All we can say is, any service that is not automated is only waiting to be tapped. Only sky is the limit for AI/ML to cover and there is a lot of scope for these technologies to flourish.

The evolution of AI

There are numerous founders of AI as a technology. IFM, IBM, Tesla, and there are many more that started early investing in Artificial Intelligence. But, the fact remains that AI is still in the developing stage and a lot is going on where the future of AI/ML is concerned.

What is the future of Artificial Intelligence?

Already, the humankind has seen a phenomenal change in the way AI and ML have progressed in various industries. Disease prediction in healthcare, loan defaulters identification, and fraud detection in the financial domain, product recommendation system in retail, and many more are a few outstanding examples of Machine Learning.

While some of the industries are yet to explore the depths of what AI can bring, other industries such as healthcare, telecom, BFSI, etc have already started reaping the benefits.

Transport – The self-driven cars are already a reality, but it might take some time before we see them ferrying people to every nook and corner.

Manufacturing – We are seeing robots conducting repetitive tasks in publishing houses and other product manufacturing companies like stacking and assembly.

Healthcare – There is a lot more to dig deep in this field. However, we are already witnessing the disease prediction and diagnosis, drug discoveries are being sped up by AI.

Customer Service – Google is bent on developing AI-assistants to facilitate tasks like making calls and setting up appointments at hospitals, salons, etc.

Household Services – We are day in and day out listening to amazing stories about Amazon’s Alexa, the virtual assistant. And how the AI wonder is capable of voice interaction, setting alarms, playing music, and many more tasks on request.

It’s not long before many large companies will harness AI/ML  for performing all the “thinking” tasks. There is a lot of gap between our assumptions and reality. But, what we already see happening is, all the “routine” tasks are being automated. After all, the onus is on the businesses to meet the expectations of the end-users or customers.

There are criticisms over what living with AI/ML might bring; which is the loss of jobs due to automation. However, if we look at the positive side, automation reduces errors and incorporates better efficiency. At the end of the day, satisfaction and happiness are the ultimate goals.

Why is upskilling important?

“AI is going to change the world more than anything in the history of mankind. More than electricity.”— AI oracle and venture capitalist Dr. Kai-Fu Lee, 2018

Today, the tech giants are investing in AI and ML Training as they are witnessing the growth of technologies in leaps and bounds across domains.

As already mentioned in the earlier section, the AI is going to replace all the routine jobs. This means the professionals who perform repetitive tasks should upskill for their career and livelihood. On this note, Amazon does a great job of funding for the betterment of its employees by helping them train for better skills.

The AI is likely to displace the bottom 50% of the jobs in a matter of 10-15 years.

What’s IFM’s Gyongyosi feels is that professionals should learn to code like they learn a new language. And it is going to get difficult if people do not educate themselves with programming languages.  

EndNote:

 If implemented responsibly, AI can truly benefit society. However, with AI teams making efforts such as, to collect a large amount of data to study human profiles to predict human behavior; the common man might suffer from the lack of right to privacy and freedom.

Although there are a multitude of benefits with AI/ML and everything seems to be green and sunshine, one should prepare for the future by trying to overcome the negative repercussions of AI smartly and well ahead in time.

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