Artificial Intelligence And Our Daily Life
WHAT IS ARTIFICIAL INTELLIGENCE?
You may have heard about artificial intelligence, or AI, by technology companies or media outlets. But what exactly is artificial intelligence? What does it involve? So how will it help technological development of future generations?
Artificial intelligence instructs computers to parse data contextually to provide requested information, supply analysis, or trigger an event based on their findings. A typical example of AI in today’s world is chatbot, more specifically the “live chat” version that is responsible for primary customer service on various websites.
The British scientist Alan Turing, also known as the father of theoretical computer science, is to thanked for the creation of AI. His Turing test examines the presence of the mind or intelligence in a machine; if it can fool a human to believe that it is mortal, then it passes the test.
HOW DOES AI WORK?
Once an AI is created, its development has only just begun. As with human brains, an AI can learn and adapt over time to improve its performance. This learning process occurs in very much the same way it does for humans. The AI absorbs and stores information and data, then processes them to better inform its future decisions and interactions.
In fact, we can think of AI as the outermost membrane of a 3-layer complex learning process. Beneath AI is machine learning, a process that allows machines to learn and act without the need for human input or instruction to perform specific tasks. The second level is deep learning, wherein AI processes vast amount of data to facilitate image, speech, and language recognition. Deep learning utilizes algorithms from the neural network, which breaks down a problem into smaller fragments. This feature allows the program to become more accurately refined in its capacity to categorize, pushing the power of AI to unseen heights.
The human brain has more than 100 billion neurons handling numerous complex processes within the body. The most complex neural network to date has more than one billion nodes. So, AI creators still have a long way to go to mimic human brain patterns completely.
As mentioned earlier, AI mostly interacts with the public today through customer service chatbots. Voice assistants, such as Amazon’s Alexa and Apple’s Siri, can answer some basic questions, handle scheduling, control other smart devices in at home, and other basic administrative functions.
Given the current state of AI development, it’s difficult for many industries to make full use of artificial intelligence. Nevertheless, AI has several suitable applications that businesses could leverage in the coming years.
AI in Retail
AI allows websites to recommend products uniquely suited to consumers. Shoppers can also take advantage when searching for products using conversational language and images, as though they were interacting with a person.
More retailers are adopting AI; 54% of retailers claimed they either already use it or plan to use it at some point. Moreover, 18% of respondents said they use it to personalize product recommendations. This adoption could truly be crucial. Applications of AI in the wholesale and retail industries are estimated to raise profitability rates 59% by 2035, according to Accenture.
AI in Transportation
AI also plays an important role in transportation for its unique abilities to identify patterns in massive data sets and quickly deliver insights based on new information. These functions make AI more effective for certain operations in supply chain and logistics compared to traditional forecasting and analytics tools.
Considering Tesla, its impressive autopilot features and predictive capabilities recently closed yet another billion real-world miles. If these features ever reach mass adoption, they could help make the roads safer for all drivers, passengers, and pedestrians. The AI in Supply Chain and Logistics report from Business Insider Intelligence is available for more information.
AI in Payments and Finance
Banks are beginning to use AI on the front end to secure customer identities, mimic live employees, and deepen digital interactions. While most of these cases are in the extremely early stages, securing digital identity stands out as a developed use of AI due its strong support among banks and the cost savings it drives.
The implementation of AI within back-office functions in three key areas: aiding customer service, automating processes, and preempting problems. The most advanced application is the assistance provided to customer service personnel. AI is making headway when it comes to automating existing processes; however, there are still processes to be made before AI can reliably be used to preempt problems.
However, the most impressive feature remains AI’s counteraction of frauds attempts, money laundering risks, and handling conversational payments volume.
THE FUTURE OF AI
These previously mentioned applications are within reach. However, a few researchers and others in the tech industry have more ambitious ideas about the future of AI. Some ideas are pragmatically achievable, such as bringing mobility to the elderly and disabled, solving climate change issues, and discovering new planets. Others are wildly terrifying, including the final marriage between humans, machines, and cyborgs. Major aspirations still remain to be seen; nevertheless, there is sufficient evidence to stay hopeful that AI could really be the technology change that drives every fiber of our life.
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