Artificial Intelligence is undoubtedly the most exciting trend in today’s technology, and for very good reason. Since its early days of conception, it has constantly raced ahead, leaving other technologies far behind in comparison. Questions about what is artificial intelligence and artificial intelligence future are many and keep cropping up faster than today’s innovators can answer them. One thing is, however, quite clear – the artificial intelligence future is the most likely direction of humanity’s march of progress.
What is Artificial Intelligence?
Artificial intelligence in the simplest of terms is the methodology of imparting to machines and computers cognitive traits that as of now only humans possess. For decades now scientists have been trying to make machines more and more human-like, and have already had great success. From self-driving cars to the personal assistants on our phone (Apple’s Siri, Microsoft’s Cortana, Android’s Google Assistant are the best examples), artificial intelligence has made inroads into our lives. So much so that the question of “what is artificial intelligence” could simply be answered by saying that it is merely the sum of computer functions we have not achieved yet.
The numerous connections and pathways between technology and the marketplace are well known, and any disruption in technology is bound to make its waves felt in the market. With artificial intelligence being the most disruptive technology today, it is no wonder that the artificial intelligence market is well and truly booming. As more and more innovations continue to crop up, fuelled by the passionate work of technologists around the world, the artificial intelligence marketplace gets more and more competitive, and consequently, more and more lucrative.
Changes in the Market
Artificial intelligence systems have largely changed the way humans work, act, and even think. Significantly, many major notable companies have made artificial intelligence systems a part of their hiring process. Companies like Vodafone and Unilever are using artificial intelligence to build better and stronger employee forces, and Google’s bid for artificial intelligence-driven language translation tools is widely seen as a bid to further solidify its dominance in the artificial intelligence market.
The banking sector is fully poised to make use of artificial intelligence, and the day is not far off when artificial intelligence will be making decisions about whether your loan gets approved and at what rate of interest. Already, companies like Wells Fargo have implemented artificial intelligence mechanisms into their decisions. Artificial intelligence may well play a role in predicting the fate of stock markets and could be the best advisor for investment decisions. The artificial intelligence future is sure to be a money-laden one, at least for financial firms.
The advent of a new technology always brings about unease in the existing system, and what is artificial intelligence if not the biggest new technology of our generation. It is no surprise that the fear of artificial intelligence systems replacing humans and human jobs is one that plagues many around the world. Indeed, it is not entirely without basis. Artificial intelligence has indeed taken over many jobs that previously needed human labour, such as construction roles. However, the employees who are indispensable are consequently safer as a result, and those who aren’t may not find new jobs which are more appropriate for the intellectual faculties of humans.
Artificial intelligence market competition has also encouraged many companies to step up their efforts in the field of cybersecurity, with white-hat hackers being empowered by its many advantages. Weapons used in the context of natural security may also benefit from artificial intelligence, as they could be engineered better to cause less collateral harm.
Healthcare, of course, is not going to be left behind, and this may be the most fascinating application of artificial intelligence, due to the sheer size of its impact and potential influence of human lives. What is artificial intelligence today may very well be standard procedure today in hospitals around the world? Artificial intelligence can be used in the medical field to customize personal assistants for doctors, taking some tedious parts out of their jobs. They may also be used in complex surgeries, where robots have a better chance of success than humans.
The field of education also stands to benefit a great deal from artificial intelligence, with artificial intelligence systems in combination with data analysis providing teachers and educators with the tools required to better understand their students and individual learning styles. Artificial intelligence is also extremely helpful, even life-changing, for people with disabilities, as it can provide communication devices, customized mobility devices, and adaptive technology for those whose senses or mobility might be limited. Thus they will not only succeed in making us a more technologically advanced society but also a more equitable and just one, with adequate accommodations and adaptations for those who would stand to benefit most from them.
Finally, the implications of an artificial intelligence future are felt not only in strictly business and work environments but have long ago penetrated the walls of our homes and made themselves an inextricable part of our lives. Devices like Amazon’s Alexa bring every automated comfort possible to the user, and as innovation keeps marching forwards and competition gets cheaper, it is bound to become more effective, more accessible, and more affordable. The artificial intelligence market is hence one of the fastest growing in the world, and companies, especially Apple, Google, and Microsoft, are directing remarkable proportions of their yearly budgets towards research and development of artificial intelligence systems.
The artificial intelligence future is in secure hands, and progress and innovation are bound to keep happening. With increasing urbanisation and globalisation, it is very likely that the artificial intelligence market will soon be the most important frontier that the marketplace fights its daily battles for control on. The difference between two companies may very well be who has a better understanding of what is artificial intelligence is, and who exploits that understanding better and directs it towards innovation. With its sights set firmly on the future, the modern marketplace is ready for the advent of artificial intelligence.