AI has been slowly gaining momentum, and you might not know it, but it is already ubiquitous in our lives – from our workplaces to our cars, it is everywhere. It is fascinating to witness the evolution of AI and the ways it can impact our future. For many years, Machine Learning and Artificial Intelligence have been creating quite a buzz among tech enthusiasts, and many tech industries are investing millions of dollars in AI technologies.
As AI’s influence on many business spheres like healthcare, automotive, e-commerce, and entertainment continues to grow, experts are predicting it to become more omnipotent in the future. But what does this mean for us? And how AI is going to impact our future? What changes will it bring?
To understand AI’s complete impact on our future, it is essential to get a gist of what it is.
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Artificial Intelligence – The Future of Our World?
AI has no precise description, and you might get confused with numerous definitions while looking it up on the internet. In simple terms, Artificial intelligence is a collection of tools and algorithms that use data to predict and recommend decisions to change the real and digital environment.
AI mainly performs tasks that were previously performed by humans. The term AI is associated with technologies and systems furnished with processes programmed to exhibit human-like characteristics such as reasoning, generalizing, and learning from past experiences.
AI is categorized into two major subsets; Machine learning and deep learning. Where machine learning consists of algorithms to help systems learn independently from data, deep learning is a method of ML, along with being a subset of AI, is based on neural networks’ concepts, mainly used in image and speech recognition.
Artificial Intelligence Applications in Our Everyday Life
Some of the applications of AI already exist in the current time. You might not even notice them but they are intricately integrated into our daily lives’ operations. Some common examples include:
Recommendation Systems
One of the most common applications of AI these days is the use of recommendation systems. Many streaming services use this system to recommend content according to users’ preferences based on their activities and data. Some of the most common platforms that employ this recommendation engine include:
- YouTube
- Netflix
Google Translate
Another application of AI is Google Translate. Google Translate uses machine learning to translate text from a source language to a target language. With a plethora of people contributing every day, Google Translate’s machine learning model updates regularly to become more proficient.
Google Maps
Google Maps is also another application that can clear our understanding of AI. Whenever you enter the desired location, it predicts various ways to reach your destination efficiently. Some applications effectively combine Google Maps with VR to create a more immersive user experience.
How Will AI Impact Our Future?
Healthcare
AI is going to increase the accuracy in healthcare as it can play a vital role in preventing 86% of mistakes in this industry. AI’s integration with health-tech can be extremely beneficial. A combination of predictive analytics and AI can help the healthcare industry recognize factors that influence an individual’s health. Hence, AI can power healthcare systems to predict and diagnose future diseases and suggest preventive measures beforehand. It will also help doctors and surgeons to perform their operations more efficiently.
According to experts, AI is going to be a game-changer in the healthcare field, as it will help provide better medical care to people. You can even expect to see robots’ involvement in the system. With several types of research already underway, these are the few major predictions about AI’s impact on healthcare in the future.
Business Functions & Processes
Artificial intelligence can accelerate the workflow by automating many business processes and functions. In the future, organizations will use robotic process automation with few AI capabilities to take over many repetitive, day-to-day operations. AI will make business processes and functions more efficient, cost-effective, accurate, and transparent.
This automation can help companies save a lot of time, leading them to invest in other productive tasks. Companies will also use Hyper Automation, a developed version of robotic process automation (RPA) that enables robots to adapt to more complex tasks without any human supervision by using process mining, natural language processing, machine learning, and AI cloud computing. Hyper Automation is predicted to be the future of banking, finance, etc.
Society
Artificial Intelligence will have a high impact on society. Experts not only expect it to increase the productivity of people by solving the traffic congestion and streamlining the processes, but they also believe it can lead to discoveries in the medicinal field as well. They believe that AI can be an ideal solution for many R&D centers looking for new medicines, reducing the cost and time of this tedious process.
AI can already predict synthesized compound properties based on molecules’ data consisting of their structure, attributes, and more. If AI can discover new molecules to create medicines for lethal diseases, it will completely transform society.
With facial recognition technology already a common sight, AI will further improve ways of uncovering criminal activities and solving crimes. The judicial system can also benefit from effectively integrating AI without crossing an individual’s privacy. Every individual will be significantly impacted by AI, and while you might face new challenges with the emerging applications and technology, AI will mostly have a positive impact according to expectations.
Economy
AI is expected to impact every aspect of our lives, including the economy. There are mixed evaluations about its impact on the economy. Where it is expected to increase economic activity by an additional $13 trillion by 2030, or 16% higher GDP according to McKinsey & Company, people also fear that it is going to increase unemployment.
Companies will most likely adopt AI technology to automate many processes, leaving the manual workers without their jobs, which can affect the economy.
Final Words
We have discussed some of the major applications of AI in current times and we have discussed its major impacts in the upcoming future, it would not be wrong to say that AI is the future of this world. If you are subscribed to one of the best internet deals, like Spectrum Triple Play then you can use these AI-based applications with absolute ease.
Artificial Intelligence is continuously evolving and transforming our lives. Just like any other technology, it also has positive and negative impacts but the positive ones outweigh the negative impacts by a huge margin. Although some of the major predictions like automotive vehicles are yet to become a reality, AI is already integrated into many of our daily operations and we can see its presence everywhere.
