Artificial intelligence is with us everywhere today and it is hard to imagine life without it. It is used in everyday items, such as telephones, vacuum cleaners, or watches, it works in internet search engines, is responsible for personalizing advertisements or helping in shops and hotlines. It can contribute to increasing cybersecurity and reducing disinformation, improve logistic processes in the company and even help diagnose patients in medical facilities. Artificial intelligence can facilitate our work and increase productivity, as well as help in the analysis and management of data.

Artificial Intelligence – a handful of data and statistics

The artificial intelligence software market is developing at a dizzying pace. However, it is not limited to the software industry itself, but has a positive impact on other industries and can leave a positive mark on economic development. The forecasts of the World Economic Forum from 2020, predict that the contribution of artificial intelligence to the global economy by 2030 will amount to $ 15.7 trillion. Global GDP would increase by 26% over the same period. North America would have the largest market share in artificial intelligence, and the retail industry could feel a significant increase in revenues. What is artificial intelligence? How is the algorithm supposed to improve our daily life and can we expect any changes shortly?

What is Artificial Intelligence?

Artificial intelligence is a system or machine designed to mimic human intelligence when performing tasks. By collecting the right amount of data, they can improve their decisions and take part in such activities as planning, learning, or problem-solving. Research on artificial intelligence algorithms contribute to recreating the human perception of reality, reacting in an appropriate way to certain situations, and learning as effectively as possible. These systems are autonomous, and the analysis of large amounts of data allows them to recognize patterns and forecast events. They are used primarily as solutions to facilitate users’ functioning. The best known to us are those introduced by Amazon and Apple, i.e. Alexa and Siri and the Google assistant. We can also come across chatbots when visiting various websites or in customer service departments when we try to settle matters by phone, e.g. with an internet provider or in telecommunications services.

According to research conducted by the Pew Research Center in the USA, 46% of respondents use voice assistants, and 39% of users believe that they properly solve their problems. Algorithms are also used on streaming platforms. After analyzing the movies and series watched by the user, they can offer him more similar propositions. Netflix, the streaming platform giant, reports that 75% of users’ choices on the platform are suggested by an algorithm. Algorithms are constantly developing and improving so that the technology on which they are based could be innovative and effective.

Artificial Intelligence in business

Artificial intelligence has the greatest room for development in business. Adapting it appropriately can improve productivity, give a more accurate analysis of information, or forecast the effects of implemented actions. AI ceases to be an innovation for a few and becomes mainstream in marketing, customer service, and sales. This technology also saves money. 50% of the companies surveyed met the cost-saving target with the help of artificial intelligence. The main application of AI in business is the detection and prevention of cybercrimes and solving technical problems. It also helps to improve the decision-making process, productivity, and customer experience during service.

It is expected that by 2025, 95% of customer service tasks will be performed by artificial intelligence. Along with these predictions, there are questions as to whether artificial intelligence in any industry will be able to replace humans well. Contact with a real person is more convenient than contact with a machine. The client should feel that his case is important, which is why an individual approach is better. Artificial intelligence and algorithms offer a lot of room for the development of various industries, but you have to reckon with the fact that technology is not infallible. A man can help to avoid mistakes and correct the ones that are made by the machine. 

Artificial Intelligence – facts and myths

There is still a lot of misinformation around artificial intelligence. Although it is widely used in companies and enterprises, some are still not convinced to implement it. First of all, we need to be aware that AI will not immediately provide magical results. It takes time, a proper plan, and clearly defined goals to see the genuine outcomes. Artificial intelligence is also not about robots taking humans’ jobs. Its greatest value is that it increases the capabilities of employees and gives them time to perform more complex tasks. AI is designed to increase productivity and help with data analysis. It should be applied to these activities while maintaining current employment. The constant technological advancement is also an important issue. The tools used in the company should be scaled and updated to be able to meet system requirements. However, the most crucial thing is the data that AI learns. They need to be varied and up-to-date, otherwise, the analysis may be inadequate. 

Artificial Intelligence and moral dilemmas

If you want to constantly develop the possibilities of artificial intelligence, it is worth considering how it can react when it is let into an uncontrolled environment. Microsoft, which opened the Tay chatbot account on Twitter in 2016, became convinced of this very quickly. The chatbot was supposed to interact with other users and be the next milestone in the process of improving the algorithm. Twitter users, however, significantly verified the company’s aspirations and in less than a day made the friendly chatbot a follower of controversial theses, a supporter of violence and extremes, aggressively responding to other users. Microsoft blocked Tay’s account, and observers of the situation raised serious questions. How are we supposed to teach AI without passing on questionable morals? How can algorithms learn morality? The adventure with Tay has shown that we have to wait a bit longer for a breakthrough in this matter.

Since the failure with Tay, Microsoft has been trying to come up with new ways to use AI innovatively. The latest one is a patent for a conversational chatbot of a specific person. The personality of the chatbot would be created by enabling access to correspondence, messages, photos, or social media accounts. There is also the possibility of reconstructing a person’s model in 2D or 3D technology. The media immediately picked up on this concept and started talking about creating a way to talk with the dead. Although the idea of a virtual ghost seems a bit peculiar, it could have many positive uses, e.g. therapeutic help in working through grief and coming to terms with the loss.

What else can we expect?

What is the future of artificial intelligence? Experts admit that we have to wait a few more decades for scenarios straight from science fiction movies. Algorithms are no longer static but are evolving. Over the next few years, we can expect them to automatically update and fix their behavior. We can also expect an increase in the trust we will feel towards AI. At the same time, there will be many ethical doubts that we will have to deal with. Raising moral issues by academics or politicians will become more and more visible. Despite the emerging doubts, it cannot be denied that artificial intelligence is a source of new opportunities and a field for enormous development for everyone. 

Artificial intelligence has changed our lives for good. It facilitated our daily operations, significantly influenced the activities and strategies of companies, and helped to increase competitiveness. AI also has a significant impact on cybersecurity and its improvement. Using the full potential requires the right resources of knowledge, but it is worth implementing the right strategy to gain as many benefits as it is possible.

Image source: (1, 2, 3, 4)

Related Post

Leave a Comment

Fully-Verified was created as answer to its founders collectively losing over $150 000 to various types of fraud in their eCommerce businesses.