Artificial intelligence rising – what is the impact?

Published on the 16-04-19


Artificial intelligence is moving at a fast pace and is changing the way we work

Artificial intelligence has always been part of science fiction stories throughout the decades. Recently with the advent of technology increasing at such a rapid pace, this fiction has become a reality, our reality.

Artificial intelligence today

From self-driving cars to Amazon’s Alexa, artificial intelligence (AI) is progressing rapidly. Science fiction often has portrayed AI as robots who have human-like characteristics. AI can encompass anything from Google’s search algorithms to IBM’s Watson to autonomous weapons.

AI is sometimes referred to as narrow AI (Weak AI), the idea is that AI performs a narrow task (e.g. only facial recognition, internet searches or only driving a car). The long-term goal of many researchers is to create what we see as general AI (AGI or strong AI). Narrow AI may outperform humans at specific tasks like, playing chess or solving equations, AGI however, would out-perform humans at nearly every cognitive task.

Revolutionise how the everyday world works

AI and machine learning (ML) continue to have a rapidly growing presence in today’s world, from applications that range from heavy industry to education. Improvements such as streamlining operations to informing better decision making, it is now starting to become very clear that technology alone has the potential to truly revolutionize how the world around us works.

Healthcare

It is apparent that much of the work is going on in prediction and prevention, wellness, aging, rehabilitation and technological augmentation of doctors. Out of 218 health care AI start-ups2, over a ¼ are involved in predictive medicine and 1/10 develop wellness applications. Wellness is the fastest growing segment in healthcare value chain.

Automobile

Autonomous cars are the front runner, Google’s Waymo announced that they have reached over 8 million miles on public roads autonomously. 1 million of these miles have been covered solely in one month1. According to Tractica, AI hardware, software and services revenue in the automotive industry will rise from $404 million in 2016 to $14 billion by 20253.

Finance

JP Morgan are not only cutting down the time spent on reviewing documents but have also managed to reduce its loan servicing mistakes4.

Now ML has helped in the insurance sector as well, by improving customer experience through chatbots, predictive analysis for products needed by the customer as per their life stages and life events, the mobile app to track spending behaviour and saving-pattern, reducing the claim processing time and much more.

Manufacturing and Print

Changying Precision Technology, a China based mobile manufacturer had a work force of 650 human workers. After implementing AI automation, the factor now is run by only 60 human workers and 60 robot arms that work around the clock, which has led to over 250% increase in productivity and an 80% drop in defects5.

Evolving forms of AI in intelligent document automation is happening now and presents another wake up call for the print industry. Consequently, print vendors need to start investing in current technology that will keeps their devices and services relevant.

AI has the potential to become more intelligent than any human

Elon Musk6, Bill Gates7, Steve Wozniak8 and Stephen Hawking9, many other big names in science and technology have expressed their concerns in the media and via open letters on the risks that come with AI.

The quest for strong AI comes with the idea that ultimately it will become a realisation and that it may come sooner than expected. Recent breakthroughs, many AI milestones, that experts had viewed as decades away merely five years ago, have now been proven. This has made many experts take seriously the possibility of superintelligence in our lifetime. Some experts believe that human-level AI is still centuries away, most researches believe that it will happen before 2060.

As AI has the potential to become more intelligent than any human, there is no sure-fire way of predicting how it will behave. There is no basis from past technological developments as humans have never created anything could, deliberately or unintentionally, outsmart us. The best example to envision is the idea that we could face our own evolution. People now control the planet, not because we’re the strongest, fastest or biggest, but because we’re the smartest. If we’re no longer the smartest, are we assured to remain in control?

Growing power of technology and the wisdom

2019 will be a watershed moment for AI, as the technology evolves out of the hype cycle and starts to become widely adopted in all types of businesses, processes, products and services. Our civilisation will flourish if we win “the race” between the growing power of technology and the wisdom with which we manage it. In the case of AI, the best way to win that race is to not stunt the former, but to accelerate the latter.


Article by Raj Kaul – Innovation Developer at Clarity Software

References

1. https://www.technologyreview.com/the-download/611702/waymo-racks-up-a-million-autonomous-miles-in-one-month/

2. http://www.medicalstartups.org/top/ai/

3. https://www.tractica.com/newsroom/press-releases/automotive-artificial-intelligence-revenue-to-reach-14-billion-by-2025/

4. https://www.jpmorgan.com/global/research/machine-learning

5. https://www.techrepublic.com/article/chinese-factory-replaces-90-of-humans-with-robots-production-soars/

6. https://www.cnbc.com/2017/08/11/elon-musk-issues-a-stark-warning-about-a-i-calls-it-a-bigger-threat-than-north-korea.html

7. https://futurism.com/bill-gates-artificial-intelligence-nuclear-weapons

8. https://www.computerworld.com/article/2901679/steve-wozniak-on-ai-will-we-be-pets-or-mere-ants-to-be-squashed-our-robot-overlords.html

9. https://www.vox.com/future-perfect/2018/10/16/17978596/stephen-hawking-ai-climate-change-robots-future-universe-earth

Clarity Software is a leading provider of MIS, CRM, marketing and sales solutions for large and wide format print, signage digital and packaging industries. Over 4,000 users currently use Clarity end-to-end software solutions to improve business processes.

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