Since the inception of computers, scientists have aimed to create machines that can imitate human abilities of learning, logic, reasoning, perception, and creativity. Today, this is known as artificial intelligence (AI). And using artificial technology, computers and systems think and act like humans without human help.
In 2020, the AI market size was valued at USD 51.08 Billion, and it is further projected to grow to USD 641.30 Billion by 2028, growing at a CAGR of 36.1% from 2021 to 2028. Meanwhile, different software companies like DeepMind, Exposit, Neurons Lab, and many others are investing in this technology to accelerate technological advancements.
Defining Artificial Intelligence
It is an advanced branch of computer science used to build systems that can perform tasks that typically require human intelligence. It usually performs speech recognition, decision-making, and visual perception. In the meantime, modern Artificial Intelligence can perceive the surrounding environment and make real-time decisions. Technologies like Computer Vision and Natural Language Processing allow artificial intelligence systems to grasp pictures, videos, and voice.
It uses voice to understand human language and interpret them into readable texts. This system is integrated into voice-based search or voice-activated systems. For instance, SIRI is a popular voice assistant for Apple that offers users hands-free voice assistance.
Now, let’s look at a few examples of this technology in daily life. Google’s DeepMind studies machine learning, a subset of artificial intelligence, by applying algorithms to an extensive data set to train systems to make predictive results. Intelligent assistants like Alexa supports controlling daily appliances and performing simple tasks like playing music, searching the web, and more.
Different Sectors Impacted This
AI is so common these days that it is being used globally across several sectors, including healthcare, entertainment, education, and finance. From the food people order to the cab they book, this technology is involved in every aspect of one’s life. As such, this technology is rapidly changing every walk of life, and the different sectors it revolutionized include:
- Transportation: Although it’s far from perfect, autonomous cars are already here. Tesla’s autonomous vehicles allow the car to be driven anonymously, but it requires the driver to monitor at all times.
- Manufacturing: Industries and warehouses have AI-powered systems and robots that work alongside humans to keep operations running. Besides, there is cloud-based software that can automate all tasks in day-to-day operations.
- Healthcare: The healthcare industry generates a lot of data. Doctors and healthcare providers use artificial intelligence and machine learning to assess patient data and provide the best diagnosis and treatment.
- Online Shopping: The technology uses algorithms to understand consumer preferences and behavior to offer them a personalized shopping experience.
- Customer Service: Different platforms use this technology to improve customer experience and give them a hassle-free experience. And by using chatbots and virtual assistants, customers can get their doubts cleared in case of any hiccups.
Besides these sectors, this technology is making advances in other industries. From cell phones to laptops, all devices are integrated with it to provide users with a convenient experience.
Prepare for a Future
The primary goal of artificial intelligence has always been for machines to reason, logic, and understand like human beings without human help. And today, it has not only been achieved but the extent to which the technology can perform tasks make the future scary. Moreover, artificial intelligence has become an integral part of our lives.
Researchers believe many professions will be computerized, and the age of AI will rapidly transform our world. So, it’s time to educate yourself and become a part of the transformation.
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