What Is Artificial Intelligence (AI)?

Sounding no less than a science-fiction movie, this most talked about tech term of the decade Artificial Intelligence has brought humans so close to machines with many benefits. So, what is artificial intelligence, exactly? In Fact it is something which has now become an inherent part of our lives and has changed our lifestyle and communication completely. Every time one uses Siri or Alexa,it’s nothing but a part of AI, and that’s just the beginning of its practical applications.

Unfortunately, there is no precise definition of AI, but we can say that AI is a simulation of human intelligence. Previously, the purpose of technology was to develop computers to facilitate human labour, but now computers (robots) are equipped with technology that enables them to think like humans. The informal definition of AI is whatever machines cannot do yet but humans can. Few would argue against computers playing chess or recognising images, but whenever a new technological barrier is broken, the definition and concept of AI change. If a person cannot tell the difference between a human and a machine, then the machine is considered intelligent. This standard is also known as the Turing Test. Despite the fact that AI has different versions and its algorithms have been known for a half-century, AI is currently receiving so much attention. The graph below illustrates the size of the global AI market from 2015 to 2024. (expected). We can now imagine the robustness of the AI market and demand.

87% of organisations believe that Artificial Intelligence is required for security controls. The authors of Artificial Intelligence: A Modern Approach approach the field of AI by discussing intelligent machines.

AI vs Human

AI does not get exhausted like humans (ex- cctv vs guards)
High consistency with AI (Robotics)
Multiple Decision making without break (Self driving cars with AI vs human drivers)
High accuracy and database is required with AI as compared to humans
Humans are better at creativity as compared to AI as of now
Humans have cognitive ability which separates machines from humans
Machines cannot fully map the full spectrum of human emotions as humans do.

Examples Of AI

Siri, customer support using catboats (customer service)
Online game playing (entertainment)
Intelligent humanoid robots
Early-stage virtual tutors assist human instructors (education)
Boosting vaccine development (medicine)
Automating detection of potential fraud (defence)
Improvements in the accuracy of diagnosing patients( healthcare)
Recognising plagiarism and developing high-definition graphics (media)
Social media monitoring
Algorithm trading (finance)
Travel recommendations and interface (tourism)
Google Maps (transportation)
AI-driven algorithms personalise the user experience (e- commerce)
Predictive maintenance (public sector)
Adopt fast and accurate credit scoring (banking)

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Types Of AI

Reactive Machines: perceives and reciprocates to the world in front of it as it performs limited tasks.
Limited Memory: stores past data and trends to prophesy of what may come next.
Theory of Mind: make decisions based on its perceptions of how others feel and make decisions.
Self-Awareness: operates with human-level consciousness and understands its own existence.

Pros Of AI

AI is poised for growth and intellectual development of all sectors.AI technology can enhance business productivity by up to 40%.
Identifying patterns through the analysis of the enormous data stored.AI implementation in consumer packaged goods has led to a 20% reduction in forecast errors.
Using natural language processing (NLP) to engage with people in a realistic way like humans. (passing Turing Test)
Expanding human capabilities, which will help to create new development sphere. In the same way machinery helps humans to simplify tasks such as lifting heavy objects .84% of global business organisations believe that AI will give them a competitive advantage.
Allowing companies to be human bias free and upscale security measures for enhanced transparency.
Creation of jobs to improve automations. As expected AI will generate $15.7 trillion for the economy by 2030.
AI will maintain and strengthen global competitiveness.Google’s Machine Learning Program is 89% accurate.
It has given birth to new concepts of metaverse, Web3.0 and Industry 4.0

Cons Of AI

For starters, as AI capabilities accelerate, regulators and monitors may struggle to recuperate, potentially slowing advancements and setting back the industry.
AI can turn out to be prejudice, such as training or coding, which can give rise to discrimination.
Ethics is also challenged while AI is into play because intelligence has no connection with ethics.
Job replacer- AI may make 375 million jobs obsolete over the next decade.

(For example, toll booths that were once run by humans have been replaced with AI that can scan licence plates and mail out toll bills to drivers. Travel sites run by AI that can find the best flight or hotel for your needs have almost completely obliterated the need for travel agents).Intelligent robots could replace 30% of the human workforce globally by 2030.

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How does artificial intelligence function?

AI operates by combining data chunks with rapid, iterative processing and intelligent algorithms, allowing software to analyze data trends or characteristics. AI is a vast field of study that encompasses numerous theories, methods, and technologies, in addition to the following subfields:

Machine learning (ML) is about analytical model building which adopts neural networks, statistics, operations research and physics to discover hidden insights in data without explicitly being programmed.
A neural network is a type of ML that is made up of interconnected units (like neurons) that processes information by responding to external inputs.
Deep learning (DL) is a subset of ML which indulges an array of neural networks with multiple layers of processing units to learn complex patterns with enormous data. To name a few- recognition of speech and images.
Computer vision relies on pattern recognition and DL to identify a picture or video. Since machines can understand images and videos it can capture everything in real time.
Natural language processing (NLP) is the ability of computers to analyse, interpet and generate human language, including speech. One step forward to it is natural language interaction, which allows humans to communicate with computers using normal language such that it cannot differentiate between a human and a computer.
Robotics which designs robots which are able to assist humans because robots are inexhaustible.

Artificial Intelligence In The Future

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