What is Artificial Intelligence and Why is it Really Going to Change our World? 

 August 31, 2021

If you haven’t been living under a rock, you might have already heard or read about artificial intelligence in recent years. You might have even read or heard a debate or a discussion on how AI is going to save the world or end civilization as we know it.

It is certainly true that AI has attracted many different predictions about its future and that has created a lot of hype. However, much of the hype surrounding AI is completely justified, unlike most technology trends. AI is trule a revolutionary technology, one that can dramatically change the way we do things in our real lives.

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Do you ever wonder about artificial intelligence, how it works? In this article we will talk about Artificial Intelligence (AI), what it is and why it is going to change our world.

What is AI?

As indicated above, AI stands for “artificial intelligence” and the term is used when a computer does a task that would require human intelligence. In other much simpler words we could also say AI is anything that mimics human intelligence, whichever way helps you understand better.

Most people don’t realise it but they probably interact with AI on a regular basis. For instance, search engines like Google make use of AI to determine the best results for a search. Netflix’s recommendation engine is powered by AI. Even when you’re unlocking your phone with the face ID functionality you’re interacting with artificial intelligence.

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To understand how AI works you don’t need to ask questions like what is AI programming and how does AI bring efficiency and optimum benefits to different parts of people’s lives.

We will discuss briefly how AI works but it is important that you remember that AI refers to the ability of machines to interpret data and make decisions to act or carry out tasks based on that data, a lot like human beings.

How does AI work?

AI (artificial intelligence) uses machine learning, which allows the machine or the computer to learn how to respond to certain actions. In order to mimic human intelligence, the machine or the computer uses historical data and algorithms to create something called a propensity model. Propensity models can then make predictions and allow the machine to act accordingly.

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However, these are just the common uses and functionalities, in reality AI can do a lot more than this. It is important to note that while it does sound like the machines are ready to take over, much of the work done still requires humans.

Most businesses or organizations that deploy machine learning models are looking to save time and bring efficiency. If you’re still not convinced, here are a few reasons why we believe AI is going to transform the world we live in.

AI is everywhere

As mentioned above, most people interact with AI without even realising. Ever passed through a public space that uses facial recognition technology, or browsed potential dating partners on a dating app or a dating website, or asked Alexa for the morning weather report, or bought a product recommended to you on the internet, or paid for something using your credit card?

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Many of us do at least one of these things on a daily basis. All of these tasks and processes are powered by data and AI. AI enables the credit card companies to determine, almost instantaneously, that the transactions users are performing aren’t fraudulent and fits their spending patterns.

For instance, Mastercard processes more than 70 billion transactions every year on its network with the help of AI algorithms. So, to tell you the truth, AI is already deeply embedded in our everyday lives, and it’s here to stay whether you like it or not.

AI is transforming entire industries

AI is already very influencing, or shall we say impacting, in a wide range of industries around the world, including banking, retail, healthcare, manufacturing and even farming. AI in healthcare can help predict and identify diseases, which helps healthcare professionals and the patients make better lifestyle decisions and choose the best treatment available.

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When it comes to predicting or identifying diseases, AI could even outperform medical professionals. In January 2020, Google Health developed an AI software that could spot signs of breast cancer in mammograms and the clinical trials of the AI software confirmed that it was more reliable than radiologists.

AI augments us

Machines becoming more intelligent does not mean that they will rise up and take over, as some people might say. However, they will be able to carry out more tasks much more efficiently, which should lead to a rise in automated processes across different industries.

However, this rise in automation could have a huge impact on human jobs. While automation can lead to the displacement of jobs, it should also create new jobs. As AI makes our working lives better, even investors are starting to look for the best AI companies to invest in.

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For instance, AI is revolutionizing the journalism industry for better. AI can help journalists identify trends and write stories accordingly. For instance, Forbes has “Bertie” which is an AI-driven content management system that identifies real-time trending topics, identifies relevant images and suggest changes to headlines. This makes things easier for human journalists, who can focus on just telling the story.

AI is becoming more affordable

Previously, working with AI would mean that you would need a team of professionals and expensive technology. However, that is no longer the case. Recent technological advancements have made AI readily available as a service which can easily be accessed with the help of an AI development company. The service solutions are available for businesses of all sizes.

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For instance, Amazon launched “Personalize” in 2019, which is an AI-based service that helps businesses offer search results and recommendations to their customers. There are not a lot of technicalities and costs associated with training and deploying the technology.

AI enhances other technologies

AI is paving the way for many new technology trends. As if it wasn’t clear enough that AI really is transforming the world. What this means is that without AI, we might never have seen recent technological advances in areas like facial recognition, chatbots, virtual reality, robotics, autonomous vehicles and so many more. 

AI is playing an important role in many of the recent revolutionary technologies. For instance, with the help of AI, researchers can read and sequence genes very quickly which allows them to determine at the right time which treatment would be more effective for different patients.

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