Artificial Intelligence (AI) has come a long way from being the subject matter of science fiction to be the living and breathing reality of the 21st century. It is the fuel that runs the business machinery today. Thanks to the rapid advancements in technology, the applications of Artificial Intelligence have manifested before us in myriad forms. From smart virtual assistants like Siri and Alexa to highly advanced self-driving cars and IoT devices, AI never ceases to amaze us. Read how AI has startled the world in the recent past.
AI holds immense potential to transform the quality of life, to improve business outcomes, and to create a world with endless possibilities. Max Tegmark, the President of the Future of Life Institute, puts forth this argument excellently:
“Everything we love about civilization is a product of intelligence, so amplifying our human intelligence with artificial intelligence has the potential of helping civilization flourish like never before – as long as we manage to keep the technology beneficial.“
Although there is considerable speculation surrounding the adverse repercussions of using AI, we must remember that as of now, AI (narrow AI) is just another technology that is still largely dependent on human control. If used correctly, AI can be highly beneficial to humankind. Here’s how:
- Automation takes the load off of human employees.
Companies across all sectors of the industry are now using AI to take over all the routine and monotonous operations. This is allowing their employees to focus on the more critical aspects of the business that require human cognitive and creative abilities. By automating the routine processes, AI is freeing up the time of the employees who can spend it on performing value-added services for the company and even upskilling.
Furthermore, automation helps to reduce operational costs by cutting down on manpower and encouraging the speedy delivery of functions/products/services.
- Machines remain at your beck and call, 24×7.
Unlike humans who require breaks between tasks, machines have no such requirement. Machines do not get tired, or bored, or distracted, making them all the more perfect for accomplishing tasks. They can be at your service 24×7, all year round. By programming machines to perform automated tasks that require minimal human intervention, companies can build a smooth operational and delivery system.
3. AI leaves zero scope for error.
Even though the AI at our disposal today is primarily narrow AI, it is capable of performing an array of tasks successfully without human intervention. Such is the power of ML algorithms – if you design them correctly to perform specific functions and to learn from experience, these algorithms leave no room for error. However, with humans, it is as the saying goes, “to err is human.”
Since machines have no emotions or feelings, they are capable of completing various tasks with accuracy and precision.
- Smart digital assistants are reshaping customer-brand interaction.
Virtual digital assistants have already become a big part of our lives. Think Siri, Alexa, Cortana, and Google Assistant – we’ve all used the assistance of these smart assistants at some point or the other. Digital assistants as these are designed to interact with customers just like another human being would. Thanks to these advanced AI applications, surfing the online domain has become much more smoothe for us.
Even chatbots are a good case in point. Companies are increasingly adopting chatbots to boost customer-brand interaction. Chatbots help customers with their queries or grievances in real-time, thereby offering immediate assistance to people.
5. AI applications are enhancing healthcare.
One of the most significant contributions of AI has been in the field of healthcare. For instance, IBM’s Watson for Health is enabling healthcare organizations to leverage advanced cognitive technology to unlock vast amounts of healthcare data.
With smart wearables and fitness devices that can track and monitor various health metrics, AI is helping individuals take charge of their health. Healthcare providers and medical professionals are using AI applications for remote monitoring patients, thereby eliminating the need to visit clinics for minor illnesses.
AI is already being used to detect cancer at the early stages, allowing doctors to start the treatment in the early stages itself. The American Cancer Society maintains that a high proportion of mammograms deliver false results, causing 1 in 2 healthy women to believe they have cancer. Thanks to AI, mammograms can be reviewed and translated 30 times faster with 99% accuracy. The Internet of Medical Things (IoMT) is also helping make a positive difference in the lives of people. AI can be extremely resourceful when integrated with our education system.
As has been true with every new technology or invention – change is inevitable. However, it is not the entire paradigm that changes. For instance, the invention of computers did not eliminate the need for Mathematicians; but with computers, Mathematicians can now work better. It is just like this with AI. It will not ‘replace’ humans, but it will complement them to perform better and reach new heights of innovation. Read more about how can you transform your career with Machine Learning and AI PG diploma with IIIT Bangalore.