THE FUTURE OF AI- Technology is the future of human lives. Over the years, advancements in this field have continued to reshape the world we live in, and it is not stopping now. On a daily basis, developers are working relentlessly to create new software and algorithms that will transform the way people communicate, treat patients, do business, fight crime, and generally exist. AI is at the core of this technological future. With AI, some aspects of the fantasy-world projected in science-fiction movies will soon become a reality.
Although, a new phenomenon in the mainstream environment, AI technology dates to early civilizations when Egyptian and Chinese engineers invented automatons. The modern beginnings of AI are traced to 1956, the year it was formally established. Since then, AI has undergone several development phases. Presently, it refers to machines with the abilities to carry out human-like activities, solve difficult problems and enhance the decision-making process. This technology can also perform advanced functions and tasks that would otherwise be overwhelming to humans.
AI is poised to radically improve data collection and analysis, business operations, manufacturing processes, politics, household tasks, and so much more. The effects of AI are far-reaching and will impact every human domain.
What is AI: Where are We Today and What Does the Future Look Like?
Despite the frequent mainstream and online reports and coverage of AI technology, many people, especially in America, do not have a clear-cut understanding of what this technology is and the ways it is revolutionizing their world.
Technically, Artificial Intelligence (AI) is a broad spectrum of computer science concerned in developing smart machines capable of replicating and simulating and human intelligence. In other words, AI is an umbrella term for machines that can think, behave, and perform jobs like humans, without human intervention or input. Sometimes with better precision, accuracy and effectiveness, all AI devices operate using different levels of machine and deep learning technology.
Today, AI is all around us, it is integrated into our daily lives, even though many people are oblivious to it. Think of Facebook, how this platform connects everyone from everywhere, facilitates communication in real-time and provides features and packages that meet specific consumer needs.
The application of AI software makes all these possible. Through machine learning technologies, Facebook fetches personal data of its users, such as behavior patterns, tastes, lifestyle and interest and uses them for exorbitant gains. AI technology has also been adopted by popular companies such as Apple (Siri), Amazon (Alexa), Telsa (semi-automated vehicles), Nest, Pandora, Netflix, and much more.
This widespread acceptance is also reflected in the current market value of AI software. A report has revealed that, in 2019, the global artificial intelligence market was worth 28.42 billion USD and is projected to reach 40.27 billion USD in 2020. The same report also postulates that by 2023, the AI market will be valued at 99.98 billion USD with a compound annual growth rate of 34.86%.