Since the era of computers or machines, the ability of machines has grown exponentially. Machines were developed so that they could perform various tasks seamlessly, in various industrial segments. With the widespread adoption of AI into main stream human lives, it has been almost impossible to live without the intervention of AI’s. Artificial Intelligence is a science that is rapidly growing as a technology and the technology is responsible for making intelligent machines, wherein controlled robots think intelligently in a similar manner as humans do.
Philosophically, A curiosity of human: “Can a machine think and behave like humans do?” led to the invention of Artificial Intelligence. This invention was started with an intention to build intelligent machines that can think, act, and take appropriate decisions like humans.
The major goals of Artificial Intelligence were to create expert systems and to implement human intelligence into the machines/systems. Various different sciences together have created a science named Artificial Intelligence. Learning, understanding, reasoning and problem solving are the main areas of functions for any intelligent system. Additionally, Sociology, Technology Science, Psychology, Philosophy, Neuron Science, Biology and Mathematics constitutes to form Artificial Intelligence.
Today, Artificial intelligence is expected to be the next industrial revolution, which is poised to rapidly revamp the global economy, businesses, work culture across the domains and the way people & machines interact with each other.
Mr. Andrew Ng, co-founder of education startup Coursera and a Chief scientist at Chinese internet giant “Baidu Inc.”, and Neil Jacobstein, Chairperson of the artificial intelligence and robotics department at Silicon Valley stated during the discussion about Artificial Intelligence with “The Wall Street Journal” that AI has created large number of opportunities for all enterprises. Just like electrification changed the major industries 100 years ago, we are already in a phase where artificial intelligence will revolutionize every major industry in the world. Moreover, the industry analysts at “The Institute for Future”, a California based non-profit research center also stated that the investment in AI has grown by around 80% in the recent years (2010 - $1.7 billion to 2014 - $14.9 billion).
According to a survey and study conducted on the impact of Artificial Intelligence by one of the big consultancy agencies in March 2017, it is found that AI would dramatically influence every aspect of businesses by 2020. Information Technology industry (IT) is and would be the biggest adopter of AI with 67% of respondents using AI. AI’s are used today to detect user issues, delivery automation and security intrusions. The survey report further states 32% of IT companies believe that AI would have greatest impact on customer service (guiding customer service executives to more quickly resolve the customer queries) and sales by 2020.
Varied industries such as Government and Defense, Retails, IT & Telecom, Healthcare manufacturing, Educations, Transportation, Banking Financial Services and Insurance and many more would have a tremendous impact of AI in the coming years. In April 2017, Google launched a web based service “AutoDraw” using AI, which is aimed at the users that lack drawing talent. This analyses the inappropriately drawn picture and suggests professional picture of the same. Specially, kids would learn and better express themselves through drawing or art. Just like Apple’s Siri that uses speech recognition or Google’s voice recognition platforms that help users in their daily lives, AutoDraw will also create significant impact in an individual’s life.
Intelligent drones are being used during medical emergencies. Driver-less car is another classic example of practical AI at work in Transportation (Automotive) industry. Telsa’s electric car is able to drive itself and can also make lane changes during driving. Another Giant in Automotive industry “Toyota”, anticipates to have AI-enabled driver-less cars on road by 2020.
With AI, machines provide various cost effective and efficient solutions for problem resolution by reducing error rates, multitasking, digitally assisting customers (in BPOs – customer service), efficiently performing repetitive tasks as they are programmed for long hours. This will further increase the technological growth rate. In the near future, travel agencies may not need drivers, however a day might arise wherein they would hire programmers. This would be the big revolution in the industry. Considering all the growth factors and challenges of the Technology, “The Research Reports” forecasts Artificial Intelligence market to reach $24.5 billion by 2023.