Future scope of Artificial Intelligence

Introduction

AI powered robots are capable of showing features of human intelligence, such as thinking, learning, and self-correction. The advancement of AI has been phenomenal since its conception. The finest example of Artificial Intelligence is Sophie, the AI robot. 

Artificial Intelligence’s future, although uncertain, is looking bright. However, if AI continues to advance at its current rate, it will soon occupy every aspect of our lives. According to Semrush, the yearly growth rate of AI between 2020 and 2027 is expected to be 33.2%.

How can Artificial Intelligence be defined?

The idea of making robots “think like humans”—that is, capable of undertaking activities like thinking, organizing, training, and word recognition is known as Artificial Intelligence (AI). AI has significant ramifications for how we conduct our lives, even though no one expects parity with human intellect shortly or now. Machine Learning, a technique intended to facilitate and enhance human work, is the brain underlying Artificial Intelligence.

Advantages of Artificial Intelligence

1. Reduced Human Error 

The ability of Artificial Intelligence to minimize mistakes and improve accuracy and precision drastically is one of its main benefits. Every decision made by AI is based on data that has already been obtained and a specific set of procedures. When correctly coded, these mistakes may be eliminated.

2. Zero Chances 

Another significant benefit of AI is that it allows people to avoid numerous dangers by delegating certain tasks to AI robots. Robots with metallic frames are robust and able to endure hostile environments, making them ideal for various tasks, including defusing bombs, traveling to space, and exploring the deepest reaches of seas.

3. Available Constantly 

Numerous research indicates that only three to four hours a day are effective for people. Humans also require breaks and vacation time to reconcile their work and home life. However, AI can operate continuously without rest. They can multitask with accuracy and think far more quickly than humans can.

4. Digital Support 

Nowadays, almost all large companies connect with their clients via digital assistants, reducing the demand for human personnel. You may ask a chatbot precisely everything you need by chatting with them.

Progress in science

Science’s use of Artificial Intelligence is quite broad. Recently, “Eve” made headlines for learning that a component typically present in toothpaste is effective in treating malaria. The subject is being appreciated here. Eve is only a robot that a group of scientists from the colleges of Salford, Cardiff, and Cambridgeshire created. Eve is not a real scientist.

Eve’s example is ideal for demonstrating the potential for AI to play a significant part in research in the future, rather than only for augmentation. As demonstrated by the robotic researcher Eve, Machine Learning would be able to generate science in addition to doing it. Robotics utilizing AI for drug discovery is a sector that is rapidly expanding, and the key factor driving this growth is that robots work considerably quicker than people.

Analysis of data

Data analysis is one area where Artificial Intelligence will help businesses. Humans are unable to recognize patterns in data. Thus Machine Learning would’ve been able to do so. This makes it possible for firms to focus on the ideal clients for their products. Watson is an Artificial Intelligence developed by Fluid, a digital retail startup, to provide smart specific products to its clients.

Internet Safety

Future uses of Machine Learning in cybersecurity are crucial to preventing hackers from gaining access. The prevalence of cyber criminals is a problem that has become worse over time. Both the cost of materials and the company’s brand image are impacted. One of the most prevalent types of cybercrime is credit card fraud. Although there exist detection methods, they are still insufficient to stop hackers. Artificial Intelligence has the potential to significantly alter this. Recurrent neural networks, an AI method, can spot frauds at their very beginning. This technology for fraud detection will be able to scan thousands of orders and anticipate them into categories immediately.

Emotive robots

The psychological quotient has progressed with technology. Siri, Cortana, and Alexa are examples of virtual assistants that demonstrate how far AI technology has come in understanding human speech. They can deduce meanings from the context that makes wise decisions. A companion robot by the name of “Pepper” was released for purchase back in 2015. And the first 1000 copies were all sold extremely quickly—possibly in under a minute. Taking everything into account, it is also possible that emotional robots will exist in the future.

Advertising & Marketing

Since marketing specialists stop at nothing to advance their client’s business, the implementation of Machine Learning in marketing and sales appears to be a given. Technology can help marketing teams work more effectively. Artificial Intelligence will mostly be used to increase conversion rates and revenue. Face recognition allows for more promotional messages, insight into consumer behavior, and more income.

Transport

Artificial Intelligence-assisted transportation will no longer be limited to a page of science fiction books. Cars currently dominate the market without passengers, but for safety reasons, a driver must be behind the wheel. The day self-driving vehicles become a reality is much closer, with companies like Google, Lyft, and Exxon Mobil vying for supremacy in this industry. Since we all understand, this can only actually occur with the aid of cognitive computing, which makes sure that all these Electronic Automobiles run efficiently and effectively.

Conclusion

As they discover thousands of opportunities for their use of Machine Learning in numerous industries, there has been a major unraveling of the operations research and machine intelligence phenomenon in recent years. To better understand the most recent worldwide epidemic, researchers started utilizing AI and Machine Learning. The integrated usage of Machine Learning and deep learning in the realm of medical research is further highlighted by this.

The epidemic raised the need for AI and ML experts in the IT industry. Visit the UNext website and enroll in a course to learn more about Artificial Intelligence. UNext along with IIM Indore offers an Executive PG Diploma in Management and Artificial Intelligence. You get to learn from the best in the business. Do explore the courses in detail.