5 Ways Artificial Intelligence Will Change The World As We Know It
Artificial Intelligence (AI) is no longer something on the horizon. It is the technology of today. But what will a future with AI look like? We dissect the top 5 ways AI will change the world as we know it.
What does the future look like to you?
With artificial intelligence playing a greater role in our lives - from the way we shop online to the way we move around and the way connect with one another - the future is already here.
You may think of Hollywood films when you think of AI. But with machines and programs able to perform tasks through basic problem solving and learning, the ability to imitate human cognitive skills has opened up a world of opportunities.
Despite the research being around since the 1950s, recent advancements in technology and innovation mean that AI has transcended Hollywood ideas and become a reality.
This can be measured by the estimate that the AI industry will be worth $118.6 billion by 2025.
Due to AI’s ability to handle vast amounts of data and more complex algorithms and upgrades to computing power and storage, we are only scratching the surface of where this exciting technology can go.
Here are the 5 ways that AI may help us in the future:
Being able to store and process incredibly large amounts of data at a time, AI has the means to improve transportation safety immeasurably.
While self-driving cars already exist, they still require human oversight. Through applying problem-solving skills and continually learning from itself, AI may soon be able to produce autonomous self-driving cars.
This may also extend to public transport such as buses and trains. Driverless trains have the potential to be safer and more efficient than current transport options. This is achieved through improve response rates to warning signs and increasing reliability of services.
Cargo ship routes may also be optimized through AI by analyzing weather faster and changing routes accordingly.
While technology continues to adapt, the potential to streamline movement, trade, and efficiency is very real.
Benefits within the healthcare industry may be significant and potentially life-saving.
Our minds and bodies present one of humanity's greatest limitations. Imagine if we, as a species, could transcend these barriers?
And while a world where AI allows humans to extend their lifespans may remain a sci-fi fantasy, the potential to revolutionize medicine and surgery is already underway.
AI has the ability to learn from itself through computer vision, language, and data processing in order to optimize and predict. This means that increased speed and accuracy of diagnosis will become possible.
More robotic surgeries will also become a reality as will increased drug safety. This will come as a result of pharmaceutical companies settling on better quality and more effective new products for the right candidates faster.
Overall, there is a greater chance of better healthcare outcomes through AI and increased prevention capabilities - both exciting advancements.
Banking and Financial Management
Do you struggle to stay on top of your banking and finances?
AI may be the solution.
According to financial experts Concept, due to being able to handle so much data so quickly, AI will be able to identify fraudulent transactions and notify you faster and more accurately. They explain “this will ultimately help to keep your money safer. Calculating your credit score may also be more efficient, streamlining a variety of financial processes and applications.”
Being able to automate large amounts of data through AI means that data collection surrounding customer behavior and desires are also processed faster.
This provides banking institutions with the means to deliver a more customized and enjoyable customer experience.
Tackling Climate Change
The more information we have, the better we will be able to tackle climate change.
AI can likely help in this department.
Through processing data, AI will be able to better track weather patterns, climate predictions, and incoming natural disasters.
Being able to make these types of forecasts means that decision-makers will be presented with more precise and up-to-date information in order to make informed policy decisions that could potentially reverse signs of climate change where possible.
Tracking and measuring carbon emissions more accurately is also possible through AI. Doing this could hold more companies accountable for the footprint and encourage reduced emissions.
So for every film claiming AI will end the world, there is a true potential for AI to help save it.
What difference would it make to remove menial or time-consuming tasks from your schedule?
AI is already demonstrating competency to complete routine tasks. While some believe this takes jobs away from humans, it may actually complement human work and reduce time spent on non-productive tasks..
Increased automation through AI may help make routine work tasks for humans more efficient and ultimately lead to more job creation in the future throughout the technology industry.
There is already evidence of AI improving user experience with chatbots helping solve customer service problems that previously required human interaction. According to the eCommerce team from Pearl’s Creations, chatbots have the potential to benefit businesses in a huge way.
They explain “by automating conversations businesses can not only reduce overheads on staff and training but streamline their sales funnel and remove the friction that may have come with having to wait to contact a customer service rep. For eCommerce stores, and anyone with a digital presence, AI is exciting.”
According to recent data, the impact of AI is expected to increase labor productivity by up to 40% as it enables people to be more efficient with their time.
While AI continues to evolve, the possibilities for growth, change, and improvements appear endless.
It remains to be seen what reality comes of this transformative shift in technology.