History has shown that revolutions have always been our second nature as we constantly look for ways to understand and change our environment. In essence, we are not wired to leave events to chance, and that has fueled the majority of innovations that have brought us this far. Artificial intelligence, in particular, is gearing to become one of the most important innovations in history.
AI is definitely not a new concept as the possibilities of having machines that can take on complicated tasks with little or no supervision have been pondered about for decades. To be more specific, the concept was officially introduced some 75 years ago. However, the strides made in the last decade have been crucial to the emergence of AI as one of the most utilized technologies in the world. In this article, we will focus on three important facts you need to know about artificial intelligence.
AI Is a Disruptive Technology
We can safely say that AI is one of the driving forces of a new industrial revolution that’s centered on speed and efficiency as the world we live in today has become nearly fully digitized. As a result, we are constantly tweaking and upgrading AI technology in order to meet customers’ demands.
According to Nikola Djordjevic, the primary author of the following infographic we found ontechjury.net, the AI market is expected to worth $60 billion by 2025. Clearly, we have come to realize that AI is indeed the solution to some of the flaws and limitations of existing traditional systems. Companies that fail to react or accept the disruptive power of this technology will remain on the sidelines when the cash starts flowing. Therefore, the disruptive nature of AI technology will be witnessed in every sector since its potentials are virtually limitless.
Presently, the technology is gradually becoming more utilized in the healthcare sector, the automotive industry, and other industries that are interested in fully automated systems.
AI Will Start a Chain Reaction
The ability of AI to perform difficult tasks in a record time puts countless jobs at risk. Already, skeptics are basing their arguments on this factor and in a way they are right. The emergence of AI has offered companies a cost-effective way of doing business, and the logical thing to do is to replace workers with AI-powered systems that can do their jobs faster and more efficiently.
The worrying statistics are perhaps better illustrated in the comprehensive AI infographic, which reveals that the increase in the adoption of AI could result in the loss of nearly 40% of US jobs by 2030.
In reality, the ability of an AI system to seamlessly and effectively carry out tasks heavily depends on the quality of the data at its disposal. This is because the decision-making and learning processes of AI are fueled by timely, relevant, and error-free data. The flaw is probably most evident in trading bots which still depends on effective trading strategies, market indications, and price patterns for optimum performance. Until these conditions are met, it is impossible to guarantee their profitability.
The AI craze is at an all-time high and insider trends show that the buzz surrounding the technology will persist. AI’s unlimited potential, its dependence on quality and timely data as well as its controversial elimination of the human factor will continue to be some of the major talking points in the coming years.