WHAT IS ARTIFICIAL INTELLIGENCE?
You may have heard about artificial intelligence (or AI stands for it) by technology companies or media outlets. Many companies use time as a way to create excitement for their products and express themselves as a prerequisite for technological development.
However, what exactly is artificial intelligence? What does it involve? So how will it help the development of future generations?
Artificial intelligence techniques teach 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 chatbots, specifically the “live chat.” versions that handle primary customer service complaints on companies’ websites.
An index of how people like these machines could be developed in the 1950s by British scientist Alan Turing. His Turing test examines the presence of the mind, though, or intelligence in a machine and if it can fool a human to believe that it is a human as well, and 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. And this learning process occurs in much the same way it does for humans. The AI absorbs and stores information and data, then processes it to better inform its future decisions and interactions.
But in fact, we can think of AI as the outermost layer of a much more complex learning process that contains four main layers, according to Intel. 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 third level is deep learning, wherein an AI can process vast amounts of data to facilitate processes such as image, speech, and language recognition.
The fourth and final level is the neural network, which has the power to push AI to unseen heights. The human brain has more than 100 billion neurons that handle 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 fully.
As mentioned earlier, Ai mostly interacts with the public today through customer service chatbots. And voice assistants such as Amazon’s Alexa and Apple’s Siri can answer some basic questions, handle scheduling and other administrative functions, and even control other smart devices in the home.
Given the current state of Ai development, it’s difficult for many industries to make full use of artificial intelligence at this time. But AI has several future applications that businesses could leverage in the coming years.
AI allows websites to recommend products uniquely suited to shoppers and enables people to search for products using conversational language, or just images, as though they were interacting with a person.
Retailers are starting to adopt more AI, as 54% of retailers in a recent SLI Systems study said 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. And this adoption could be crucial, as applications of AI in the wholesale and retail industries are estimated to raise profitability rates 59% by 2035, according to Accenture.
AI can also help change transportation. The unique abilities of AI systems to identify patterns in massive data sets and quickly deliver insights based on new information make them more effective for certain functions in supply chain and logistics than more traditional forecasting and analytics tools.
Consider Tesla, which has created cars with self-driving features and predictive capabilities. If these features ever reach mass adoption, then they could help make the roads safer for all drivers, passengers, and pedestrians.
To learn more about AI in transportation, read The AI in Supply Chain and Logistics report from Business Insider Intelligence.
- Payments and Finance
Banks are beginning to use AI on the front end to secure customer identities, mimic live employees, deepen digital interactions. While most of those use cases are in the extremely early stages, securing digital identity stands out as a mature use case of AI in banking, because of its strong support among banks and the cost savings it
AI is also being implemented by banks within back-office functions in three key areas — aiding customer service employees, automating processes, and preempting problems. Of these three, the most advanced in its application of aiding customer service employees. AI is making headway when it comes to automating existing processes, but there is still some way to go before AI can reliably be used to preempt problems.
Lastly, in payments, AI is being used in fraud prevention and detection, anti-money laundering (AML), and in growing conversational payments volume. Of those use cases, preventing and detecting payments fraud is the most mature.
THE FUTURE OF AI
These applications are within reach, but some researchers and others in the tech industry have more ambitious ideas about the future of AI.
Shimon Whiteson, a professor at the Institute of Informatics at the University of Amsterdam, said that the AI could eventually turn us all into the cyborg in the final marriage of humans and machines.
Thomas Dietterich, president of the Association for the Advancement of Artificial Intelligence, believes AI will help turn us into superheroes by, for example, allowing the elderly and the disabled to walk.
Stuart Russell, a computer scientist at the University of California, Berkeley, said the AI would be able to address major issues, such as climate change.
And Sabine Hauert, a robber at Bristol University, believes AI will help humanity discover new planets.
But it remains to be seen if AI will remain limited in retail and other platform applications, or if it can really be a technology change that affects the fabric of life as we know it.
(Source: The BI)