Artificial Intelligence: A Force Disrupting Many Sectors
Several factors have impacted the proliferation at which the research and development of AI is developing. The increase in computational resources, the explosive growth of data which stands at 48% year-on-year, based on Mary Meeker’s 2017 Internet Trends Report, along with the decreasing cost of data storage, and the surge of open source frameworks, in addition to the shift from broad AI to industry-focused AI, have enabled Machine Learning and Deep Learning to therefore accelerate the evolvement of AI.
Today, different stakeholders are betting on the capacities of AI in transforming the world as we know it. In fact, Global Forecast 2022 report expected the AI market to be worth $16 BN by 2022, which will evidently increase the investments in the technology.
AI is already on the track of empowering different sectors. In this article we will be underlining the main sectors where AI is already having or is projected to have the greatest impact: automotive, healthcare, education, and banking.
What Does AI Stand For?
Known as the father of Artificial Intelligence, English mathematician John McCarthy, coined the term "Artificial Intelligence" in 1956 when he held the first academic conference on the subject. He presented his definition of the word at a conference on the campus of Dartmouth as such "the science and engineering of making intelligent machines".
A number of dictionaries define AI to be an area of computer science that emphasizes the creation of intelligent machines that work and react like humans. AI can rationalize and take actions that have the highest probability of achieving a specific goal. The technology bases itself on the idea that human intelligence can be mimicked by a machine that is wired using approaches from mathematics, computer science, linguistics, psychology, and more.
It is important to mention that Artificial Intelligence is not merely one technology; it is a group of correlated technologies including natural language processing that ensure a normal interaction between computers and human, machine learning that allows computer to evolve once exposed to data, and expert systems that are softwares programmed to provide advice.
Going Back in Time
AI's Impact on the Automotive Sector
Stay tuned for the next installment of Artificial Intelligence: A Force Disrupting Many Sectors next Tuesday to learn more about how AI is impacting the automotive sector.