- Posted by Shaik Sameer
- On September 9, 2021
“Artificial Intelligence would be the ultimate version of Google. The ultimate search engine that would understand everything on the web. It would understand exactly what you wanted, and it would give you the right thing. We’re nowhere near doing that now. But we can get closer to that, and that is what we work on.” — Larry Page
Artificial Intelligence (AI) is perceived as machines that work on a network of stimulations, developed by human beings. AI is a network of software that solves real-life problems faced in various sectors. From finance to national security, these machines can resolve issues and provide solutions. They can solve problems with practical judgment, contemplation, and intention.
Artificial Intelligence is making strides in the world of digital transformation. Google CEO Sunder Pichai says, “AI will be the next breakthrough in humankind’s history after fire and electricity”. As per the research done by Gartner, by 2022, the business value derived from AI is evaluated at an estimate of $4 Trillion worldwide.
AI is bringing changes in the business world with its intelligence, adaptability, efficiency, and accuracy. AI can predict business trends on many levels, which is not yet possible for human beings.
Types of Artificial Intelligence Models
The essence of AI lies in three aspects of machine learning: Adaptability, Intelligence, and Intentionality. On behalf of these three qualities, there are four types of Artificial Intelligence identified.
Assisted AI is the most basic form of AI that assists humans in anticipating issues related to mundane tasks. These need constant human intervention and work based on the given instructions. The final decision comes from the end-user without any interference from AI.
Automated AI works on human simulations perceived by the machines. Speech recognition software, virtual assistants, and natural language processing are a few examples.
Augmented Intelligence includes deep learning models to predict deep-seated patterns. It uses indicators to solve problems with the help of Big Data. Online stores use Augmented Intelligence to preset the customers’ purchasing behaviors. It sets the users’ preferences for their convenience.
Autonomous AI requires the least human interaction and works on autonomous technology. Robotics is the best example of Autonomous AI. Delivery drones from Amazon are the latest development in this segment of AI.
Transformation of the World with AI
Artificial Intelligence is an ever-evolving and in-demand concept. It provides consistency, efficiency, transparency, and accuracy. It aims at seamless opportunities for companies to improve their business models.
Furthermore, it highly depends on an innovative amalgamation of their data and the internet. AI is transforming drastically in diversified sectors.
The financial sector organizations are using AI-enabled automation technologies. This sector requires a more transparent and efficient work atmosphere. They can use AI-enabled chatbots to make communication channels more efficient and approachable for customers.
AI mitigates the risks by a significant margin along with an efficient fraud detection system. A relevant example is Robotic Process Automation. It is used by JP Morgan Chase to regulate, extract and capture the documentation for better risk management.
In 2020, a surge was noticed in ransomware attacks by 50%, as per the Check Point Research. The healthcare industry was the most affected industry when it comes to ransomware attacks worldwide. Maze and Rynk were top ransomware types that affected several sectors across the world.
AI can help detect and prevent these cyberattacks with its deep learning techniques.
The possibilities of AI in the healthcare sector are endless. From medical diagnostics to drug research and development, the opportunities are seamless with AI.
Deep learning in the healthcare sector uses the Natural Language Processing (NLP) feature for speech recognition. NLP systems can help analyse unorganized clinical notes for patients. AI-enabled technology is eventually replacing the old-age rule-based systems to interpret data algorithms.
DeepMind Health from Google solves real-world healthcare issues. With its human-brain mimicking general-purpose learning algorithm, it works for clinicians and researchers.
Artificial Intelligence can do wonders for humankind. With its extremely efficient use of data, it can be productive with repetitive and mundane tasks. As per the estimates by McKinsey, Big Data can save around $100 billion in the healthcare sector.
In the next three years, around 47% of learning management tools will be AI-enabled. AI can revolutionize the education sector with optimized learning and teaching techniques.
Jill Watson, a virtual assistant, was introduced by the Georgia Institute of Technology. The virtual assistant makes sure that students do not quit school in between.
As per a Telegraph survey, around 30% of teachers’ time goes into planning lessons and administration tasks. AI can work in the task automation segment. It can reduce the burden on teachers by doing mundane administrative tasks and grading papers.
Duolingo, an online language-learning tool, is adaptive and responsive to the aspirants who want to learn a new language.
Artificial Intelligence is capable of assessing, predicting, and mitigating climate change risks. AI-enabled technologies are doing great work with the efficient use of data and sensing devices.
The efficiency level of AI-driven technologies is paving the way for a fair war against climate change and pollution. The fulfilment of sustainable development goals will be possible with the help of robotic-driven tools and self-learning programs.
AI can be the game-changer for companies and government organizations that are fighting against climate change. The impact of decoupling with the help of AI-enabled technologies in decreasing environment damage to a great extent. The anticipation of the amount of carbon emissions across the world and optimizing vehicular pollution can be handled by AI with utmost accuracy and precision.
AI is being integrated into various sectors like security, finance, healthcare, automobile, e-commerce, and smart cities. The deployment of the right Al-enabled technologies can save time, effort, and resources for the big organizations by optimizing routine processes. It can help in improving productivity and transparency by making efficient operational activities. More personalized campaigns can be designed to get the nerve of the market and customers by using AI-enabled algorithms. By using cognitive technologies, organizations can reap the benefits of Big Data and deep learning methods.