What is Artificial Intelligence Anyway?
In the past year, machine learning and artificial intelligence topics have taken the world by storm. The reasons behind this tipping point are many:
- Computer programs can correlate multiple content sources and extract meaning
- They can prioritize content based on context and take action
- Automation of low level tasks creates efficiencies
- They can crunch large datasets in seconds and extract knowledge
- Accuracy is high
For example, a computer program trained to read CAT scans of cells, can diagnose cancers with an accuracy of 99% just by referencing thousands of pictures and correlating them against patient data. In contrast, a specialist would have taken years to review the same data.
How it will affect us
Machine learning and Artificial Intelligence are changing our world forever. All fields of human activities are or will be affected by it. It is expected that it will create a lot of efficiencies in the process. To understand how an AI future might look, imagine that everyone gets their work done 20% faster. Freed of low level tasks, a smart company can focus on the next frontier. Instead of focusing on the fulfillment of low level needs such as paying salaries, offering healthcare benefits, it can afford to focus on growth. This is good for business and the economy.
Expect an explosion of innovations
All the sudden you created an environment where you can correlate and process information like never before. You can verify hypothesis, get rid of false assumptions, create new tools and user value.
When AI gets used in all fields of business, the creation of wealh becomes mind blowing. Smart farming, alone will help feed the planet while making sure that the environment is protected. Smart healthcare will help us manage and eradicate diseases. Smart transportation will save billions of dollars in fuel, insurance and save us hours on the freeways. Smart teaching will prepare our children to this new world.
Artificial Intelligence has the potential to help businesses with difficult resource management puzzles. It has the potential to augment our collective potential and help the economy forward.