What is Artificial Intelligence? How AI will change the world? Many say Artificial Intelligence is a composite of computer science that aims to create intelligent machines. If blockchain technology is the tech innovation of this decade, then artificial intelligence will be the tech innovation of the next decade. Modern technology is defined by internalization, tech intelligence, and digitization. New tech innovations are revolutionizing the world exponentially.
There are many other technological advancements like Artificial Intelligence, Machine Learning, and Cloud-Computing, IoT are taking the world by storm. The blend of clouds, devices, and networks is transforming the system while scrapping decade-old techniques and formulas.
New models of machines have been introduced with a new set of techniques and learning. The main motive of AI is to give rise to more debates and questions and solve them with the help of this new technology.
What is Artificial Intelligence?
In layman’s terms, AI simply means building a machine that is intelligent, however, this does not explain the exact meaning of AI. Artificial Intelligence is advanced deep learning and machine learning with an interdisciplinary science approach aiming to create a human-like brain for machines.
The ability to think, feel emotions, talk, and carry out activities on day to day basis is what AI aims for. Another important aspect of developing Artificial Intelligence is to make every tech industry stand on a virtual benchmark.
Types of Artificial Intelligence
There are generally four types of AI depending on the category and complexity that a system is able to perform. For instance, an automated spam filter is a basic AI feature, and a complex machine that can talk and feel human emotions falls into a complex form of AI.
The following are the four types of Artificial Intelligence based on their features and complexity.
- Reactive Machines
It is a very basic form of AI machine that gathers the data, reads it, and reacts according to it. A reactive machine does not store memory of data which makes it incapable of analyzing past experience and making decisions accordingly.
- Limited Memory
Limited Memory is a level up AI form that can store data and configurations and response after analyzing every data. It is a bit more advance AI format device compared to reactive machines.
This AI memory is developed so that models can be automatically taught and refreshed, or AI is created when a team continuously teaches a model in how to understand and use new data.
- Theory of Mind
This is the advance AI format which has yet to be explored and achieve it physically. This theory is just on the paper and the scientific and technological capabilities are yet to be achieved.
The concept enhances the use of machine learning and deep learning which allows a machine to thing, behave, and feel emotions by itself just like humans. If achieved successfully, this would be the path breaking innovation in the tech industries. Although, many experts has criticised this move because in future Artificial Intelligence might have negative effect.
The last phase in the development of AI will be for it to become self-aware once Theory of Mind has been created, which will likely take a very long time. This sort of AI is conscious on a par with humans and is aware of both its own presence and the presence and emotional states of others.
How is Arificial Intelligence used today?
Today Artificial Intelligence are used by many tech and product companies including pharmaceuticals and business intelligence. From aumatic fraud detection machines to boosting vaccine development, AI is found in every corner.
As per the reports of CB Insights, private market saw an exponential growth in using AI technology which reach up to 108 percent in 2021 compared to 2020. Artificial intelligence (AI) is causing a stir in a number of industries due to its rapid adoption. The rapid adoption of AI technologies have also opened multiple job opportunities for the AI developers.
In its 2022 research on AI in banking, Business Insider Intelligence revealed that more than half of financial services firms now utilise AI technologies for risk management and revenue generating. Savings of up to $400 billion could result from the use of AI in banking. Even education sector is investing tremendously in introducing new courses for AI that a aspiring tech enthusiast can learn and become an AI developer.
In terms of medicine, a 2021 World Health Organization research said that while implementing AI in the healthcare industry presents difficulties, the technology “holds considerable potential” as it may result in advantages such as better health policy and more accurate patient diagnosis.
Pros and Cons of AI
Artificial Intelligence have both advantages and disadvantages which an aspiring AI developer must understand.
- The best part about AI is that it reduces the efforts and amount of time to complete a specific task. It simplifies the multitasks and increases the productivity.
- Completing the complex task in less amount of time, which industry does not want that? AI is extremely helpful in this.
- AI creates a space for creativity, and helps in building unique features for the products.
- AI improves the capabilities of people with disabilities.
- AI may be used across industries and has a large market potential.
- AI reduces the time and effort thus making it simple for the developer in taking quick decisions and actions.
- Many experts see AI as athreat to human race becuase of intelligence and high productivity.
- AI might do day to day or simple tasks but it cannot do creative or take novel method.
- A robot is one example of artificial intelligence in use, and it is replacing jobs and raising unemployment.
- We tend to use our brains less and less because we do not need to memorise information or solve puzzles to complete tasks.
- Morality and ethics are significant human traits that can be challenging to include into an AI.
The Holy Grail for many AI researchers is the development of a computer with human-level intelligence that can be used for any task, yet the path to artificial general intelligence has not been easy.
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