Some people worry that AI will make us feel inferior, but then, anybody in his right mind should have a inferiority complex every time he looks at a flower.” —Alan Kay
From voice-powered personal assistants like Siri and Alexa to more underlying and fundamental technologies like behavioural algorithms, suggestive searches and autonomously-powered self-driving vehicles boasting powerful predictive capabilities, there are several examples and applications of AI in use today.
Artificial intelligence (AI) is the ability of an electronic computer or computer-controlled robot to imitate intelligent human behaviour. We can also define as if any task performed by a program or a machine that, if a human carried out the same activity, we would say the human had to apply intelligence to accomplish the task. AI has been one in every of the fastest-growing technologies in recent years and is positioned at the core of the subsequent-gen software technologies within the market.
The global AI market size is predicted to achieve US$21.8 billion by 2027, growing at a CAGR (compound annual growth rate) of 45.3% during the forecast period of 2019-2027.
The market growth is driven by heightening adoption of cloud-based applications and services and rise within the connected device market. Additionally, considerable investments in 5G technology and increase in demand for intelligent virtual assistants are playing key role in AI market development. However, the lack of trained and experienced staff can hinder the expansion of the factitious intelligence market.
By technology, the factitious intelligence marketplace for computer vision holds the biggest share of the market
Computer vision technology allows computers to draw meaning from images and videos, which enables a system to analyse such data and take appropriate action, self-driving capabilities in cars being the simplest application of this technology.
Computer vision has been a key driver behind the factitious intelligence boom of the past two years.
Machine learning’s ability to gather and handle big data, and its applications in real-time speech translation, autonomous robots, and facial analysis are fueling its growth.
Recent Advancements
In the future, Alexa can be booking a doctor’s appointment for you before you even know you wish one.
Artificial intelligence has the potential to “prevent disease.”
Technology to continuously monitor us and anticipate potential health problems before they progress too far is simply round the corner.
Microsoft has launched a five-year, $40 million program called AI for Health, an initiative that may use AI tools to deal with a number of healthcare’s biggest challenges, including disease diagnosis and treatment and global health crises.
Online streaming giant Netflix uses A.I. to tap into user preference data to make algorithms that recommend new viewing material. Viewers are enthusiastic about such recommendations adding 56,000 subscribers per day to its basket.
Amazon Go is an A.I. powered shop by Amazon. Customers don’t must checkout, all they have to try to do is devour the merchandise they need and leave, ceiling-mounted cameras backed with A.I. collects the main points regarding the merchandise and charge the customer for his or her haul through Amazon Go app as they leave of the shop.
A.I. has also can also assist in eradicating coronavirus. Data management platforms and AI methods combined can result in the analysis of this contagious disease, backing government decisions, as per scientists. A lot of companies and organizations are using these methods to track this infectious disease. Harvard Medical School-developed AI technology that can track infectious diseases. It also picked up early signs of the coronavirus spread in Wuhan, China, in December.
Gartner, the world’s leading research advisory, recently calculated that In 2021, AI augmentation will create >€2.6 trillion of business value and save 6.2 billion man-hours globally. and a survey by McKinsey has estimated that AI analytics could add around $13trn, or 16%, to annual global GDP by 2030.
The real opportunity of AI is to finally unleash the complete power of human intelligence. As Picasso once said: “computers are useless: they will only offer you answers!”. Only humans can understand the complete context of what’s not working well in business processes and functions, and have relevant suggestions on how they may be improved. Or to place it in our own way, the foremost important thing in business is “knowing what’s important! ”