AI has the potential to bring about tremendous benefits for future generations. It can help us solve some of the world's most pressing problems, such as climate change, poverty, and disease. AI-powered tools can analyse massive amounts of data and identify patterns that humans may not be able to see, leading to more accurate predictions and better decision-making.
In the field of education, AI has the potential to revolutionise the way we learn. Adaptive learning technologies can tailor education to each individual's unique needs and abilities, helping students to learn more efficiently and effectively.
AI-powered chat-bots and virtual assistants can provide personalised support to students, answering questions and providing feedback in real-time.
However, AI also poses some challenges and risks that we must consider. One concern is that AI could lead to job displacement, as automation replaces certain tasks and roles traditionally performed by humans. This could create significant economic and social disruption, particularly for those in lower-skilled jobs.
AI’s influence on technology is due in part because of how it impacts computing. Through AI, computers have the ability to harness massive amounts of data and use their learned intelligence to make optimal decisions and discoveries in fractions of the time that it would take humans.
AI has come a long way since 1951, when the first documented success of an AI computer program was written by Christopher Strachey, whose checkers program completed a whole game on the Ferranti Mark I computer at the University of Manchester.
Since then, AI has been used to help sequence RNA for vaccines and model human speech, technologies that rely on model- and algorithm-based machine learning and increasingly focus on perception, reasoning and generalization. With innovations like these, AI has re-taken center stage like never before — and it won’t cede the spotlight anytime soon.
Nearly 86% of the mistakes can be prevented in the healthcare industry and AI will play a vital role in this. The future of AI in healthcare is a step towards democratizing healthcare for the benefit of patients and healthcare professionals alike, while at the same time making it less costly and more accurate through AI-powered predictive care. Predictive analytics coupled with artificial intelligence can help understand various factors (place of birth, eating habits, local air pollution levels, etc) that influence a person’s health. In future, we can expect AI-powered healthcare systems to anticipate when a person is most likely to develop a chronic disease and suggest preventative medication to cure it before it worsens.
With several types of research underway on developing AI-powered applications to help doctors diagnose and treat patients, AI will definitely be a game-changer in imparting better medical care to patients. You can expect a totally different future for healthcare as robots interact with patients, check on their health condition, and evaluate the further need for an appointment with a doctor. We will still need doctors, nurses, scientists, and the list goes on. However, AI will simplify our lives by making the clinical and healthcare data we generate more actionable.
The global market for Artificial Intelligence in Retail grows over $5 million by 2022.
These statistics are a clear proof of evidence that AI promises a great future for retailers with diverse usage possibilities for better business decision making. In future, you can expect delivery of up to 5-pound packages in less than 30 minutes, all thanks to AI-powered drones. Amazon is already working on it to determine proper safety and reliability of operations for delivering packages but there is no tentative date yet on the commercial use of these drones. However, in the next decade, you can anticipate the autonomous delivery of goods and food immediately with drones.
Not just autonomous delivery but the future of AI in Retail is more autonomous and individualised with realistic scenarios that include virtual racks customized according to data-defined persona, connected dressing rooms with screens, and a lot more personalization based on previous history and trends making consumer choices less stressful and chaotic.
According to IHS Markit’s AI in Banking report, the global business value of AI in Banking anticipated reaching $300 billion by the end of 2030. Artificial Intelligence is all set to take centre stage in the next decade in verticals like business intelligence and security with reduced cost, increased productivity and enhanced customer experiences. Robo Advisors in wealth management will become a common sight and game-changers in the banking space-saving significant amounts of time for wealth managers and customers. The banks of the future will not just personalise their services and products but will use AI to personalise customer experiences. A great example of such personalisation would be removing the need to produce an ID card when you walk into the bank branch and still continue to be greeted with your name and complete knowledge of your entire bank account history.
“Artificial Intelligence will take our jobs!” is the most common fear surrounding artificial intelligence in the future. With artificial intelligence automating all kinds of work, we can think of a more comfortable future for ourselves that will create new jobs and not displace them. According to a report on the Future of Jobs by World Economic Forum, AI will create 58 million new artificial intelligence jobs. There is an excellent chance that by 2030 AI will outperform humans in most of the mental tasks but that does not mean it will take away jobs.
Artificial Intelligence Future is coming – coming soon! Now is the time to prepare for the age of AI by investing in education and training. The choice remains with you – will you upgrade your skills to stay ahead of the curve or will you remain still and stagnant in the industry. Aren’t you eager to be a part of this fourth industrial revolution?
In conclusion, AI has the potential to bring about significant benefits for the next generation, from improving education to solving complex global problems. However, it also poses challenges and risks that we must consider and address. By prioritising responsible development and use of AI, we can help ensure that this technology brings about positive impacts for our future generations.
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