ARTIFICIAL INTELLIGENCE (AI) TRANSFORMING THE WORLD
The world is fast evolving, with Artificial intelligence (AI) at the forefront of changing the world and the way we live. Artificial Intelligence (AI) is bringing a drastic change in the technological fields, where it can be implemented to automate the system for more efficiency and performance.
An important question: What is AI? For many people, it remains unclear what this technology is all about, so this is an excellent place to start the conversation.
Artificial Intelligence is a branch of computer science that endeavours to replicate or simulate human intelligence in a machine, so machines can perform tasks that typically require human knowledge. This is made possible with specific algorithms that make the AI function in a specified scope of activities. This means that with AI, many of our everyday actions can now be carried out effectively by programmed machine technology.
The importance of AI technology:
The use of AI in organizations, governments, security frameworks, energy and natural resource management, is drastically on the rise. The advancement and application of AI may vary substantially from one geographical region to the other. That being said, clear indicators are pointing to the fact that more people are acknowledging the solutions that technology brings.
Fields AI is currently being used in:
- Virtual Assistant or Chatbots
- Agriculture and Farming
- Autonomous Flying
- Retail, Shopping and Fashion
- Security and Surveillance
- Sports Analytics and Activities
- Manufacturing and Production
- Live Stock and Inventory Management
- Self-driving cars or Autonomous Vehicles
- Healthcare and Medical Imaging Analysis
- Warehousing and Logistic Supply Chain
Alexa, Siri and Google Assistance are the major examples of Virtual Assistance services. While automated bots answering questions of customers are the example of AI-based Chatbots working with the best performance.
In the Agriculture sector, autonomous tractors and drone monitoring are used to enhance the productivity and crop yield of farmlands. Robots and automated machines are also used in these fields to monitor the health condition of crop and harvesting.
Autonomous Vehicles or Self-Driving Cars are other examples of AI. Fully integrated into such a system to make machines work automatically while understanding the nearby surroundings and real-life scenarios of the environment.
In the healthcare sector, AI is playing a vital role in empowering the machines to diagnose, analyze and predict the various types of potential diseases. Monitor patient’s health conditions and help scientists to explore the new drug discoveries and medicine development, helping people to get well soon and avoid health problems in their life.
The Future of Artificial Intelligence in the Workplace and Economy:
Smart technologies aren’t just changing our homes; they’re edging their way into numerous industries. AI has the potential to improve productivity, efficiency and accuracy across an economy/organization – but is this entirely beneficial?
Many fear that the rise of AI will lead to machines and robots replacing human workers and view this progression in technology as a threat rather than a tool to better ourselves.
Many countries and organizations are already beginning to see the incredible capabilities of AI, using these advantages to enhance human intelligence and gain real value from their data. As there is increasing evidence demonstrating the benefits of intelligent systems, more decision-makers in governments are gaining a better understanding of what AI can offer.
“organizations enabling AI at the enterprise level are increasing operational efficiency, making faster, more informed decisions and innovating new products and services.” Explains Research conducted by EY.
Governments and companies who look to employ AI systems across the board will gain competitive advantage, reduce the cost of operations and remove headcounts. While this may be positive from an economic and business perspective, it is obvious why this a worry for those working in roles at risk of displacement. The introduction of these technologies will likely trigger an issue with Associations/Union bodies and job security due to the substantial operational changes. Occupations within the transport industry could potentially be at much higher risk. In contrast, jobs requiring social, emotional and literary abilities are at the lowest risk of displacement.
How to take advantage of AI:
Due to the vast array of jobs that could be impacted by AI, it is fundamental to address the potential pitfalls of these technologies.
- Business needs to overcome the trust and bias issues surrounding AI by achieving a productive and successful implementation that makes it possible for everyone to benefit.
- Governments must ensure that gains from AI are shared widely across society to prevent social inequality between those affected and unaffected by these developments. For example, this could be through increased investment in training.
- Achieving an effective and successful implementation that makes it possible for everyone to benefit.
- With the additional cost-savings from implementing AI systems, employers should also focus on upskilling their current employees.
To properly leverage the power of AI, we need to address the issue at an educational level, as well as in business. Education systems need to focus on training students in roles directly associated to working with AI, including programmers and data analysts.
Achieving that leverage requires more emphasis to be put on STEM subjects (science, technology, engineering and mathematics). Also, topics centred around building creative, social and emotional skills should be encouraged.
While artificial intelligence will be more productive than human workers for repetitive tasks, humans will always outperform machines in jobs requiring relationship-building and imagination.
Artificial intelligence will change our world both inside and outside the workplace.
The bottom line:
Nobody can predict what the future will bring, but AI may ultimately create more jobs than it displaces. By offering new tools for entrepreneurs, it may also create new lines of business that we can’t imagine now. It is quite evident that interacting with AI will soon become an everyday activity. AI can be used to tackle profoundly tricky problems and find solutions that are important to human wellbeing. These developments are generating substantial economic and social benefits.
The possibilities of AI are endless. We will create its future, and it will influence the choices we make and the actions we take. While this revolutionary technology has the potential to become the single most influential human innovation in history, we have no way of predicting how it will behave. But, with appropriate safeguards, we can ensure that AI systems are intentional, intelligent, and adaptable without sacrificing the essential qualities that define humanity.