Rise of the Machines: Artificial Intelligence redefining the Future of Humankind.

Published by Inn-FinIQ | 05th August 2022 | Artificial Intelligence, Machine Learning, Milestones in Artificial Intelligence, Benefits of AI, Risks of AI, Robotics, AI beating Humans, Future of AI.

Artificial Intelligence

AI is the simulation of human intelligence in machines to think and act like humans (Wang, 2019). The term AI is applied to machines that exhibit the traits of a human mind that has abilities such as learning, problem-solving, and rationalizing (Nadimpalli, 2017). AI has the ability to evaluate alternative options and select the best course of action to achieve a particular goal.

Milestones in Artificial Intelligence

Types of AI

  1. Reactive AI – Is fairly static and purely reactive, unable to learn or adapt to new situations and use algorithms to optimize the output. The output would be the same for identical inputs. E.g. – Chess playing AIs.
  2. Limited memory AI – Has the ability to adapt and store limited past experiences and update itself based on new observations and data. g. Self-driven vehicles.
  3. Theory-of-mind AI – Completely adaptive and has an extensive ability to learn from past experiences. Demonstrates human intelligence but is not self-aware. E.g. – Chat-bots
  4. Self-aware AI – Still a science fiction, some AI experts believe that AIs will never become self-aware or “alive”. These AIs would become aware of their existence, know about their internal states and respond to the feelings of others (Johnson, 2020).

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Industries that use AI

Benefits of AI

#01. Automation

#02. Smart Decision-making

#03. Medical Advances

#04. Enhanced Customer Experience

#05. Research and Data Analysis

#06. Minimize Human Errors

#07. Manage Repetitive Tasks

#08. Solving Complex Problems

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Drawbacks of AI

#01. Unemployment
#02. Privacy Violations
#03. Weapons Automation
#04. High Cost
#05. Program Bias in Decision-making

Conclusion

AI has fascinated the scientists and the public alike around the globe. Some experts believe that AI would overtake the Human Intelligence in the near future  (Karamzadeh & Moharrami, 2015). AI is considered as one of top trends in modern business and would become an essential component in future organizations (Liu, et al., 2018). Certain industries such as healthcare and pharmaceuticals have made significant advancements with the use of AI. Humankind could achieve the unimaginable with the advancements in AI. On the other hand the inappropriate use of AI could lead to disruption. 

Author

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References

Johnson, J., 2020. 4 Types of Artificial Intelligence. [Online]
Available at: https://www.bmc.com/blogs/artificial-intelligence-types/[Accessed 11 August 2022].

Karamzadeh, K. & Moharrami, H., 2015. Survey of robust artificial intelligence classifier proper for various digital data. IJCT, 15(1) [Accessed 12 August 2022].

Liu, J. et al., 2018. Artificial Intelligence in the 21st Century. IEEE [Accessed 12 August 2022].

Nadimpalli, M., 2017. Artificial Intelligence Risks and Benefits. IJIRSET, 6(6). [Accessed 12 August 2022].

Wang, P., 2019. On Defining Artificial Intelligence. Journal of Artificial General Intelligence, 10(2) [Accessed 12 August 2022].