Artificial intelligence (AI)

Artificial intelligence (AI) is a broad branch of computer science that creates smart machines capable of performing tasks that typically require human intelligence. Artificial intelligence is an interdisciplinary science with many approaches, but advances in machine learning and deep learning are creating a paradigm shift in every field of technology.

Artificial intelligence allows machines to model and improves upon the capabilities of the human mind. From the development of self-driving cars to the proliferation of smart assistants like Siri and Alexa, Artificial intelligence is a growing part of everyday life. As a result, many technology companies in various industries are investing in artificially intelligent technologies.

Definition of Artificial Intelligence:

Artificial intelligence refers to systems or machines that mimic human intelligence to perform tasks and can iteratively improve themselves based on the information they collect. Artificial intelligence manifests in a number of forms. A few examples are

• Chatbots use Artificial intelligence to understand customer problems faster and provide more efficient answers

• Intelligent assistants use Artificial intelligence to parse critical information from large free-text datasets to improve scheduling

• Recommendation engines can provide automated recommendations for TV shows based on users’ viewing habits.

Artificial intelligence is more about the process and capacity for dynamic thinking and data analysis than any specific form or function. Although Artificial intelligence captures the world with images of high-performance, human-like robots. Artificial intelligence is not intended to replace humans. It aims to significantly enhance human capabilities and contributions. This makes it a very valuable business asset.

The major limitation in defining artificial intelligence as simply, “building machines that are intelligent” is that it doesn't actually explain what artificial intelligence is and what makes a machine intelligent. Artificial intelligence is an interdisciplinary science with multiple approaches, but advancements in machine learning and deep learning are creating a paradigm shift in virtually every sector of the tech industry.

Future of Artificial Intelligence:

When one considers the computational costs and the technical data infrastructure running behind artificial intelligence, actually executing artificial intelligence is a complex and costly business. Fortunately, there have been massive advancements in computing technology, as indicated by Moore's Law, which states that the number of transistors on a microchip doubles about every two years while the cost of computers is halved.

Although many experts believe that Moore's Law will likely come to an end sometime in the 2020s, this has had a major impact on modern Artificial intelligence techniques, without it, deep learning would be out of the question, financially speaking.

Recent research found that Artificial intelligence innovation has actually outperformed Moore's Law, doubling every six months or so as opposed to two years. By that logic, the advancements artificial intelligence has made across a variety of industries have been major over the last several years. And the potential for an even greater impact over the next several decades seems all but inevitable.

Artificial intelligence can make all our dreams come true, or destroy society and society as we know it.

It is already known that human jobs are constantly eaten away by software, specifically artificial intelligence algorithms, which can analyze huge amounts of data and control better process management decisions with more efficient outcomes.

The Bank of England estimates that 48% of human workers will eventually be replaced by robotics and software automation. And it’s more than low-skilled factory workers losing their seats to software intelligent robots. Even Wall Street is being disrupted: cloud-based software technologies, such as Blockchain, are displacing sales/trading and settlements professionals and increasing price discovery and transparency on the sell side of the Street, while data analytics is helping quantitative trading eliminate the fundamental mispricing of securities, formerly the mission and exclusive domain of active managers.

• Robots will keep us safer, especially from disasters
• We all will become cyborgs.
• Artificial intelligence will turn us into superhumans.
• Very smart computers may solve our problems, even changes in the climate.
• Improvement in medical care.
• Super intelligent computers may also make internet access available to people who don’t have it now.

If computers are able to converse in natural language and really understand what people are asking and give sensible answers, it might really have a big impact on all of these people that currently don't benefit from the kind of technology that we do.

Artificial intelligence could give us more time to be creative and to think broadly because it can relieve us from stressful jobs. The sad part is, robots will take away most of our jobs.