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All That You Need To Know About The Future of AI

All That You Need To Know About The Future of AI
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Future of AI

Technology moves at lightning speed, and all the individuals now have more power in their pockets than the ones who had in their homes in the 1990s. Artificial Intelligence has been quite an appealing concept of science fiction since many decades. However, many of the researchers think that we all individuals are finally getting really close to making AI an actuality.

As per Gartner report, it is estimated that by the year 2020, many of the companies will dedicate up to 20% of the workforce to the neural networks. These need to be monitored, retrained, and maintained constantly to achieve the most happy results.

In this blog, we will be covering all the aspects of Artificial Intelligence, it’s benefits, and its future aspects in the lives of human.

Before we get any deeper, let’s understand what is Artificial Intelligence and its benefits to the human kind.


 

What is Artificial Intelligence?

 

To cut the long story short, AI is a combination of technologies and concepts that mean different things to different individuals. Machine learning, robots that impersonate humans, & the applications of AI are just everywhere you look. The basic typical definition of AI looks like:

 


Why Is Artificial Intelligence Important?

 

AI performs high-volume & computerized tasks reliably and quite efficiently without getting tired. Also, this automation doesn’t involve humans and can happen without human involvement to setup the system & ask the right questions. Conversational platforms, bots, automation, and other smart machines can be combined along with the large amounts of data in order to improve many of the technologies at home and at the corporate place.  

 

Artificial intelligence can prove to be of great help to the humans world wide. Since the AI systems are efficient enough to reduce the human efforts in various sectors, more and more software development companies are embracing this new technology worldwide. It is important to have bots at your home or your business since they perform all the necessary and important tasks quite effectively.

Hence, in order to reduce the manpower and human efforts, many of the sectors like Healthcare, Finance & Banking, etc., have started making use of this technology. This following image shows some of the applications of Artificial Intelligence.

 


 

Future Of Artificial Intelligence

When we talk about the future of AI, there are quite many possibilities. This technology has all the power to transform almost all the industries. Starting from the automated chatbots to the online deliveries, AI is playing an important role on a daily basis. As these technologies advance more, new levels of the business possibilities are being evolved that drives high productivity. With its popularity, AI is becoming more popular & global at a tremendous pace & is going to have a big impact on how the individuals perform their routine tasks.

Artificial Intelligence is going to have its impact on almost all the sectors. Let’s discuss them in detail,

 

  • Impact of AI in the healthcare sector:

 

 

There are many areas in medical science where AI is being used to achieve an incredible value. The best of the opportunities for AI in the healthcare industry in the coming few years are like hybrid models, where the clinicians are being supported in treatment planning, diagnosis, and even identifying the risk factors, however, retain the ultimate responsibility for patient’s care. This will result in the faster adoption by all healthcare providers by mitigating the perceived risk, and start to deliver the measurable improvements in patient outcomes & operational efficiency at scale.  


  • Smart Processing:

Today, the technology seems to remove individuals with bots as it interacts in  human-like ways. Hence, it can be noticed that these days’ the AI powered machines are already responsible for much basic work across many of the industries. Right from robotic handling process to fielding the customer service orders, machine processing is becoming quite smarter and also more capable due to the AI integration.

With such evolution, many of the organizations are choosing to implement AI technology to the business mechanism. In such case, level of implementation must make sure that all the employees are comfortable with AI. Though AI helps employees understand the work process and business better by enabling the machines to augment the human’s capabilities.


 

  • Advertising:

 

Instead of spending thousands of dollars on a particular campaign to test if it will be effective a set pool of the target audience, AI-powered systems will efficiently simulate these campaigns with past data in hand and also deliver precise results. This will be a game changer in the marketing realm as businesses and brands will surely have an avenue to place their money in. Reaching out to the potential clients, generating leads and then converting them to sales, identifying market share of a specific new product before its launch and also the competition research may all become easier with the smart sentiment analysis techniques and tools.

With such evolution, many of the organizations are choosing to implement AI technology to the business mechanism. In such case, level of implementation must make sure that all the employees are comfortable with AI. Though AI helps employees understand the work process and business better by enabling the machines to augment the human’s capabilities.

Hari Mankude, CTO at the Imanis Data, suggests that Artificial Intelligence is going to impact almost every vertical, “anywhere where the primary customer and also operational data is the lifeblood of an enterprise”.

“Not surprisingly, retail, healthcare, and financial verticals are at the forefront, and here AI seems to be helping not just the intelligent backup & restore of data after the human error, but also deliberate the insider threats and of course the ransomware, which can wipe all the data very effectively.”

Not only the above two sectors, AI is going to impact the other sectors as well like Finance & Banking, imaging and diagnostics, etc.


Conclusion:

AI has already made its place in our lives. With certain advanced integrated features such as cloud computing, Artificial Intelligence may be used to discover new and trending information & deliver the outcomes quite instantly & efficiently.

The future seems to be full of AI and machine learning solutions or techniques that may be used to predict the actions of clients. Hence, it is going to help every size business to analyse the information and communicate at the right time through the proper digital network.

 

Varun Bhagat is a technology geek and works with PixelCrayons as a Sr. Technology Consultant. He possesses in-depth knowledge of different web development technology and helps our clients to choose the best technology as per their needs.

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