Artificial Intelligence is changing the world. It’s thrown around like a common household name, and most of us have a general idea about what AI is and what it means. But fewer of us understand what we can expect in the years to come. Let’s take a deep dive into the concept of AI and see what experts are predicting for the future.
So what is AI?
Artificial Intelligence is a type of computer science that focuses on the behavior of machines. In other words, it simulates machines to imitate human behavior and response patterns. Algorithms make these processes possible by creating a code that machines follow to imitate our behaviors and responses.
You may be trying to think through your day-to-day activities to see if you’ve interacted with AI technology. Chances are you have- from the time you’ve woken up to the time you’re reading this article. Have you talked to Siri or Alexa today? Has Facebook tagged you in a photo using facial recognition? Has Google tried to help you respond quicker in an email by suggesting responses as you type? All of these are small, simple ways that AI is impacting our everyday lives.
As a developing field that continues to make long strides in our personal lives, AI is also making waves for businesses. Business leaders understand how valuable technology is for achieving high levels of productivity. Humans are limited as to how much output they can produce for a company. Likewise, physical manpower requires salaries and overhead costs to support these employees. These costs have an overall effect on a company’s net profit. AI, on the other hand, has the potential to produce unlimited outputs without needing to account for the cost of human labor. AI’s future is enormous as it interjects into major industries like banking, tech, social media, medical, transportation, and manufacturing – just to name a few.
We can all expect to see major shifts in technology as AI integrates itself more fully into our personal and work lives.
AI could give you a full-time virtual personal assistant to help keep you on task and predict what you need at all times. It could serve as your personal ID by allowing machines to recognize your face to complete transactions. AI could even give you better medical care by creating wearable devices that measure more than just your heart rate but also your blood sugar levels and other important vitals.
We’ve only hit the tip of the iceberg with AI. It’s clear that over the next few years, we will see some incredible advances in technology that most certainly will affect our everyday lives. “Success in creating AI would be the biggest event in human history. Unfortunately, it might also be the last, unless we learn how to avoid the risks.” –Stephen Hawking, Theoretical Physicist
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Derek Rundell, is a successful business leader, operator, and serial entrepreneur. Derek has founded, managed and sold businesses in the technology, media and finance industries. He sits on several boards and serves as an advisor/investor to numerous established businesses and startups. Startups are Derek’s real passion, and in addition to building his own portfolio of technology, media and financial ventures, he invests in and mentors startups and entrepreneurs. He is passionate about sharing his knowledge and helping other businesses succeed.