All about Future of Artificial Intelligence

Table of Contents

Basic Introduction Of Future Artificial Intelligence

How has AI evolved over the years?

What is the Impact of AI?

How has AI changed society?

The Scope of AI in the Future

The Challenges that are going to arise due to the rise of AI

What does the future look like for AI?

Conclusion

Basic Introduction Of Future Artificial Intelligence

  • It is because of Artificial Intelligence (AI) that machines can think like humans. Not only this but Artificial Intelligence is also used to perform daily tasks. For example, you can ask AI-powered assistants like Alexa and Siri to tell you the time or the recipe of your favorite dish. Technological advancements have been able to make Artificial Intelligence omnipresent.
  • If you are an entrepreneur, we suggest you read the blog post till the end.
  • In this post, we will be covering how AI has evolved over the years, what the impact of AI is on businesses, how AI has changed society, the Scope of Artificial Intelligence in the future, the challenges due to the rise of AI, and what the future looks like for AI.

How has AI evolved over the years?

  • Where was the beginning? With the invention of the Turing test, created by Alan Turing, to study the possibilities of making machines think like humans. With the research on AI starting to gain momentum in the late 1950s, human-like devices crept into the world.
  • The introduction of the first series of computers gave a positive push to AI. Giant and fast-computing devices were replaced by better-performing devices that could store, extract, and analyze data.
  • Technology stalwarts like Stephen Hawking and Elon Musk have worked to produce superior machines and ideas capable of saving the world.
  • The core idea behind AI was to empower machines to continue learning and upgrading themselves using existing data.
  • If we talk about the current phase in the evolution process of AI, it is used to help businesses operate smoothly and to better manage the businesses using growth management tools, Big data tools to help in better decision-making and increasing sales. It also makes future predictions of AI possible.
  • Certain functional departments within businesses like customer service have been able to perform better due to AI.
  • Due to constant research, AI has been used in almost every industry and is going to be used in the future too.

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What is the Impact of AI?

In this section, we will focus on the impact that AI has had on businesses. Here we go:

1) Better management facilitated by automation – AI helps in automating processes and increases the speed of operations. For example, with the help of AI, you can keep a check on your inventory and improve efficiency.

2) Better interactions with customers – AI facilitates better interactions with customers using AI chatbots and what will you get? Better engagement and better customer retention.

3) Better Healthcare facilities – AI enables faster cure by combining historical data with medical advancements. Monitoring of health, record maintenance and transfer of health, and the opportunity for immediate help have all been possible because of AI.

4) Reduce frauds – AI helps build algorithms that are cable of reducing frauds, transaction risks, and also helps identify cybercrimes.

How has AI changed society?

Here’s how:

1) AI has been able to study your behavior as a consumer and provides solutions best suited to your requirements. For example, Netflix sends you recommendations based on the content you watch and search for. Artificial Intelligence thus helps you choose from better options. Netflix has been the most used content-streaming platform particularly when everyone around the world was locked down at home due to the global pandemic.

2) AI has enabled the electronic recording of data for easy access to healthcare-related data. Even the apps are capable of telling you when to buy a medicine or when to book the next appointment. When new data is recorded, these apps can even send details to your doctor.

3) Even doctors can provide solutions to your medical problems by using AI-powered video conferencing and monitoring tools.

4) AI enables the administrative staff to be aware when cleaning is needed through SMS or email.

5) AI also helps manufacturing processes become smoother by facilitating on-time transfer from assembly to the packaging line.

6) Even billing and invoicing can be facilitated through AI.

7) Automation of inventory management and procurement has also been made possible because of AI.

The Scope of AI in the Future

Artificial Intelligence is going to be used on a grander scale in the future. Some possible future trends are listed below:

1) Since there is a huge scope for AI in the future, smart monitoring, faster feedback process, and enhanced business lines have been made possible. The time taken to complete repetitive tasks will be reduced, thanks to robotic process automation and that will enable better management of businesses.

2) AI-powered mobile apps and other platforms enable businesses to understand customers’ requirements and these insights will lead to better resolution of problems and better interactions.

3) It is said that there will be more data for future devices to learn from and this will lead to better decision-making.

4) Businesses who are interested in AI are gearing up to consume AI in the future and this will lead to more competition and better management of business processes.

The Challenges that are going to arise due to the rise of AI:

Let us now look at the challenges that are likely to rear their ugly heads due to the rise of AI:

1) AI is posing a threat to many employees as it is resulting in job losses. Some more jobs will become obsolete in the future with the advancement of AI and that will not only lead to job losses but huge financial losses and economic problems too.

2) The control that the creators have on AI should not be lost otherwise it will wreak havoc. Therefore, it is important to have a guideline to control AI.

3) Robots will dominate our daily lives too. For example – Robotic cleaners have already entered the markets which means job loss for domestic helps.

4) If computers replace humans, humans will have to upgrade their skills and knowledge to compete with machines.

5) Companies planning to use AI need to hire people with related skills and such highly skilled people are not easy to find.

6) The nature of the researcher of a machine can be transferred to the machine by the creator and that will create socio-economic divides.

7) AI-powered weapons can lead to military and arms problems and pose a threat to human lives.

8) You must be wondering, “What are a robot’s rights?” or “What rewards and recognitions does a robot deserve?” Well, you are not the only one as we are all wondering the same and there is no solution as of now.

9) Digital security can be a huge problem especially, because AI uses personal data like name, age, etc., to provide more customized solutions to you.

If not used wisely, AI may invade your life and steal away peace from your life.

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What does the future look like for AI?

In this section, we will be talking about the aspects that you need to pay attention to while using AI in your organization:

1) Introduce a culture conducive to AI – For AI to work, your organization needs to be flexible and should use performance metrics and other metrics that go with AI.

2) Get insights from AI creators – It is extremely important to understand the data that AI creators used, the things that worked in their favor, and those that did not. Only then can new ideas be brought to the table.

3) Use your resources for AI innovation – Use your resources to facilitate innovation of AI so that consumers can be given better solutions and that will help in building a loyal customer base while giving an impetus to growth.

Conclusion

  • As already mentioned, AI is already making great strides and is being used in businesses. The number of businesses to use AI will increase in the future and will help in increasing sales and improving forecasts as it has done for businesses that use it currently. However, security concerns need to be addressed and if that is done, no one can stop AI from reaching the superintelligence stage.

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