Artificial intelligence has received a significant amount of attention over the past few years, particularly from people who have noticed its popularity and innovative nature. Many people use the term, and the truth is that not many people actually know what it is.
An Introduction to AI
For a simple breakdown of artificial intelligence, consider the last time you watched a movie on Netflix. At that point, you interacted with artificial intelligence. Primarily, AI is a machine that can help to solve problems in place of humans and natural intelligence.
Many people and companies are applying AI in different ways today, essentially using them to replace human behavior and make some decisions for us. Artificial intelligence has several sub-divisions, with the most prominent being the following:
- Machine learning (ML): Machine learning is perhaps the most major iteration of AI. Put simply, ML allows computers to “learn” and become “more intelligent.” It feeds computers with statistical data, allowing them to make decisions from there. When Netflix sends you movie recommendations, these come from past movies you watched. That recommendation was the job of an ML system.
- Natural language processing (NLP): With NLP, developers can build machines that understand and contextualize human languages. Thanks to NLP, you can talk to Siri and Alexa, and they can understand you.
- Pattern recognition: This involves training a machine to identify patterns. It is the foundation of your iPhone’s facial recognition security feature.
Now that we have a clear understanding of AI, here are some interesting facts.
1. The AI Market Will Grow Considerably
A PricewaterhouseCoopers (PwC) report estimates that artificial intelligence will contribute about $115 trillion to the world’s economy by 2030. ML and other AI subsections will make products better, allowing companies to increase their productivity significantly.
2. AI Powers the Self-Driving Vehicle Market
It is estimated that the market for autonomous vehicles will be worth $127 billion by 2021. As you probably guess, AI powers this market significantly.
3. Females Dominate the AI Bot Market
Studies have shown that most people prefer the sound of a female voice. So, most AI systems incorporate female voices to sell more. It is essentially why Alexa, Cortana, and Siri are female by default.
4. AI Can Be Self-Repairing
Self-repair is a significant benefit of artificial intelligence. Scientists have had considerable progress in designing self-repair robots that notice drops in their performance and immediately run diagnostics to fix the problems.
5. AI Could Be Coming for the Global Workforce
One of the many business benefits of artificial intelligence is that it reduces operating costs for businesses. For instance, machine learning can take up some tasks that analysts usually conduct.
The downside of this is that AI could put many people out of work. A report from The World Economic Forum predicts that increased automation will disrupt about 85 million jobs by 2025.
6. AI Is Getting Nationalities
Like humans, AI appears to be incorporating into society rather well. In 2017, the kingdom of Saudi Arabia granted citizenship to Sophia, a lifelike humanoid. Soon enough, other countries might be looking to make similar moves.
