General Management
Indian Institute of Management, Calcutta
Open For AdmissionArtificial Intelligence is the talking point in every technology-based company. Technology should be aimed at making lives easier for people so that they can devote more time to the things they love doing such as spending time with family. However, the effects visible are quite the opposite. That is where technology fails to be a part of human life in all its forms. Therefore, before raving about technological advancements, we should remember the reason why we had embraced technology in the first place.
Whether AI will be able to change that in the future, or it will be able to bring back what technology was actually meant to be that is the question. Hence, before delving deep into what effect AI will have on human experience, let us briefly understand what AI actually is.
AI or Artificial Intelligence is a branch of computer science that aims to create ‘intelligent’ machines— machines that can work and behave like human beings. Activities like learning, planning, decision-making and problem-solving— would all be done with the help of artificial intelligence. Machine learning, knowledge engineering, and robotics are the three core aspects of AI.
For a machine to behave like a human it has to have access to a lot of information about the objects surrounding it— the properties of each their relationships, and their behaviour. Making a machine that possesses reasoning and planning capabilities is a tedious and a very complex process. Machine learning intends to make your machines learn without/with little supervision, that is, learning and improving from one’s own experience. The primary aim is to make machines learn automatically and adjust actions accordingly.
Since you have already gotten a little idea about what Artificial Intelligence is, let us discuss how it can bring with it a plethora of changes in the technology world and human lives.
To sum it all up, Artificial Intelligence is the reality of what we watched on the screen as science fiction. It will bring with it the concerns of declining job opportunities, robots infiltrating the human space, loss of human intervention etc.
However, on the positive side, AI will completely change the way we think about problems.
AI will not replace the human mind but it should be able to scale its power. The human brain, which is an amazingly developed machine (when complemented with another computer with problem-solving or decision-making skills), will enhance the entire way we look at problems. AI, when coupled with human knowledge, will definitely have a huge social impact in the best way possible, as Ginni Rometty, CEO of IBM said,” Man and machine always get a better answer than man alone or machine alone.”
AI is also widely related to IoT or Internet of Things, where lifeless machines will interact with one another to get things done, leaving us with more leisure time. Companies are raving about finding ways to outperform each other in the levels of automation achieved-autonomous cars, smart doorbells, smart ACs etc. These are all by-products of the concept of AI and IOT.
Instead of spoon-feeding machines with instructions, we want them to learn on their own, which might seem to be a lot to expect from them initially.
This sector undoubtedly has proved to be the forerunner in utilising the benefits of AI. These days, with the development of advanced and smart health monitoring devices such as heart rate monitors, insulin pumps etc., it has become easier to diagnose diseases with knowledge of only symptoms and patterns of lifestyle. Several apps have been created that can help monitor your body statistics without the intervention of a doctor.
Agriculture can have a huge impact on the economy of a country, and hence, aiming to improve its conditions through AI is the noblest of all tasks. Nowadays, drones are being used to monitor the soil conditions— determining whether seeding or watering is to be done. Cameras keep a constant check on the trees and crops and in the future can be made to learn to check for irregularities or defects. All this information will help the farmers save their time and energy and yet produce healthy crops and cattle.
Banking sectors have suffered a setback from those companies that have come up with digital banking options that are customer-friendly, hassle-free, and always available. Nowadays, banking apps for smart-phones have been developed where emotionally intelligent robots deal with customers and their queries in the most efficient way, making the process of creating an account or withdrawing money a very simple job.
This is one sector that has infinite possibilities in terms of using AI to its best ability. However, it is still in its infancy. Nevertheless, in certain countries, AI has already peeped into transit sector. Sensors are present in buses and trams that can predict of any wear and tear to avoid accidents. AI is deployed to provide real-time information to the driver about the traffic jams, alternative routes in case of roadblocks, weather conditions, approximated time of arrival etc. The cleverest application of AI can be done in the transit sector for sure.
All of this sounds exciting for the future, just like when any new technology floods the market. However, rushing towards automation and smartening an enterprise just to get ahead of your competitors can spell disaster if you are not sure of how and why you need Artificial Intelligence to gain value from it. Remember what the great mind Stephen Hawking said, “In short, the rise of powerful AI will be either the best or the worst thing, ever to happen to humanity. We do not yet know which.”
Keep yourself updated.